RE: RE: RE: RE:(reply)Agreed Eigen337
If management has any INCH of credibility left they would certainly not be moving forward with the "Rail SPUR" at this time, as they can wait and ship for now by truck. Therefore, conserving the $20,000,000 million dollars (part of the $86,000,000) in the financing, to use if needed as a reserve - this would be on top of the remaining CASH still on the balance sheet from the financing which is now being used to progress with production.
The key here is if I am right and approx. $5-6 million or less is spent a month on operations - this reserve will give us an addittional 4 x months of internal funding, on top of the intended financing amount they were gonig to use. The financing was done I believe in mid-June, so July, August and now September has pasted...out of $86,000,000 million dollars how much has been used to-date??? I cannot see more than 18M for operations, and say 8M for the other 2 x miners etc, So CMK should still have approx. $40,000,000 million left + 20,000,000 million for the Rail Spur - if they delayed the SPUR it would be $60 million....again IMO, 8-10 months or around April of next year.
Anyone want to comment......the reason I want to open this up is if CMK has cash in the bank and no debt they can weather the storm over the next 8 x months......
Cheers!