Post by
rockmoney on May 28, 2019 11:25am
LATEST FINANCIALS ARE UGLY
Just looked at the FS for period ended March 31. Cash: $1.99 million Current Liabilities: $0.763 million Real Cash: $1.22 million Then take a look at the G&A burn - it is truly insane for a small company like PLU. These guys are gouging $216,000 PER MONTH!! So today they have about $800,000 cash or less which means another stupid dilutive financing is coming real soon. These junior managers act like they are with big companies and happily milk the treasuries dry. All I hear is a big sucking sound from PLU.
Comment by
UraniumBull23 on May 28, 2019 11:38am
Most recent financial statement didnt look great as far as free cash goes but the amount of company progression justifies spending. They doubled the resource with the drill program and are finishing the PEA. Burn rate per month is always relative to forward progress. At least we arent waiting two years to advance the 43-101 to PEA.