GREY:CRXEF - Post Discussion
Post by
smithgee on Jun 23, 2011 11:55am
MD&A Out on SW
Looks like some serious cash has to be raised:
Liquidity and capital resources
The Corporation has no long term debt and a working capital (current assets less current liabilities) of
$2,032,665 as at March 31, 2011 as compared to $3,869,191 on December 30, 2010. Management
estimates that these funds will not be sufficient to meet the Corporation’s obligations and budgeted
expenditures through March 31, 2012. The Corporation will have to raise additional funds to continue
operations. The Corporation is pursuing financing alternatives to fund its operations and to continue its
activities as a going concern. Although there is no assurance that the Corporation will be successful in
these actions, management is confident that it will be able to secure the necessary financing through the
issuance of new equity. While it has been successful in doing so in the past, there can be no assurance it
will be able to do so in the future.
Advanced exploration of some of the miner
al properties would require substantially more financial
resources. In the past, the Corporation has been able to rely on its ability to raise financing in public or
privately negotiated equity offerings. There is no assurance that such financing will be available when
required, or under terms that are favourable to the Corporation. The Corporation may also elect to
advance the exploration of mineral properties through joint-venture participation.
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