PG and SS Some real facts from Sedar. Chew on this info and spend the next 100 days telling us how RPM will not make it now that they have a low cash balance. This worries me more than all you babbling.
Liquidity
As of
March 31, 2013
, t
he Company had cash
and cash equivalents
of $
816,605
compared to $
1,867,832
as of
December
31, 20
1
2
. The Company had working capital of $
613,621
at
March 31, 2013
(
December
31,
20
1
2
-
$
1,201,472
)
.
During the
three months ended March 31, 2013
,
the Company
received
gross
proceeds of
$
300
on the exercise
of
1,500
options.
During the
three months ended March 31, 2013
, the Company incurred
a total of
$
79,713
in acquisition and
holding costs, spent
$
160,344
i
n exploration expenditures on
its
properties
,
and
incurred
$
977,477
cash outflow
in
other operating
activi
ties (see
“Results of Operations”).
The Company’s current treasury will allow continuing exploration efforts and reso
urce definition work through
201
3
. If market conditions prevail or improve, the Company will make adjustments to budgets accordingly.
Historically, the Company’s capital resources have been limited to the amount raised
from the sale of equity. The
Company has relied upon the sale of equ
ity securities for cash required for exploration and development
purposes, for acquisitions, and to fund the administration of the Company. Since the Company does not expect to
generate any revenues in the near future, it will continue to rely primarily up
on sales of its equity to raise capital.
There can be no assurance that equity financing will always be available to the Company in any amount, on a
timely basis or terms acceptable to the Company. Mining exploration is a capital
-
intensive business with pe
riods
of many years from initial exploration to any prospect of revenues. This nature of the mining business increases
risks of
insufficient capital resources above the risk level of many other businesse