RE: RE: MarkSorry but your "rumour" makes no sense....are you implying the company does not have cash to pay their bills??? That is not consistent with their news release earlier this month.....
The Company is also pleased to announce that Peninsula Merchant Syndications Corp., along with affiliated underwriters, have exercised a total of 5,300,000 warrants of the 23,363,800 warrants priced at CAD
.65 during the past three working days. The exercise of these warrants has increased the Company's working capital to CAD$6,180,000 as of this date. The exercise of the additional 18,063,800 warrants would add an additional CAD$11,741,470 to working capital. These warrants are callable within 30 days if the closing trading price of the Company's common shares on the Toronto Stock Exchange is $1.00 or more for a period of 30 consecutive trading days.
Based on today's production rate and gold at US$1,300 per ounce, the Company projects to increment its working capital by US$10 million from production by December 31st.