RE:RE:Consolidation Usually Followed by Private Placements Greenday has been consistently wrong about all things FCU, no reason this comment should be any different. Expect a future of further and significant equity raises with a corresponding fall in our share price over time. It is a shame what has happened to this company. JMO
Greenday wrote: @ ybacuo - FCU had almost $45M in cash as at March 31, 2023 and the development work being done currently isn't that capital intensive. The cash burn will increase this winter when exploratory drilling of the property resumes but a $15M program would still leave about $30M in the treasury. I don't see a need for raising capital in the immediate future.
"At March 31, 2023, the Company had a working capital balance of $44,201 as compared to $40,860 at December 31, 2022. The increase in working capital is primarily due to net proceeds from sales under the Company’s ATM facility, partially offset by PLS program expenditures and routine administrative expenses."