RE: 9 month reportNot so good...........
While the mining is going well, the financial end was unexpectedly disappointing.
A $7.8 million dollar loss for the quarter. Warrants equal to 5 million shares exercised at no cost to CREDE depriving the company of $4.6 million in funds and the main reason for the large quarterly loss. Then there was the $2.7 million dollar loss on their derivatives related to the gold loans! WTF?? Still holding gold loans worth $7.9 million. How many derivatives tied to those?
Dilution.....as of July shares outstanding rose 40% over last year and is now 195 million shares. This better be a one time thing.
Cash burn was almost $12 million leaving just $1.4 million in reserve. I haven't broken that down any further.