TSXV:AAA.P - Post by User
Post by
Fertimanon Feb 02, 2015 11:46am
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Post# 23388271
Cash burn ... as asked at the AGM...
Cash burn ... as asked at the AGM...According to Farhad the big expendatures are behind them and they will be reducing cash burn to 400-500k starting in February.
Farhad reported 10 million in the bank and also said they have reduced the number of people on the site as well as reducing pay by 30% starting in February.
He said he figured that they have enough cash on hand for the next 12-18 months and hopefully enough to last while they secure the financing.
It was also make clear that they believe all the obstacles have been cleared for funding and will be takiing the results from the water stress test and the large scale cavern testing to the financial institutions and pressure them to release the funds.