RE:RE:They are broke again..gold_diggers1 wrote: Treetop2 wrote:
Maybe that's why FS is stalled indefinitely - no money to pay consultants or contractors. We have seen this situation before with many other companies, where they cannot move ahead because they cannot pay for any work to be done, or even pay for work that has already been done.
A few items from Sept 30 financials, out today:
Cash: $571,912
Current liabilties: $1,257,934
Working capital deficit: $574,294
But that was on September 30, what about now?
"Management estimates operating expenses for the remainder of 2015 of approximately $300,000 and property expenditures to amount to $100,000. As such, AGG does not have sufficient funds to meet its cash requirements for 2015."
Also: "The Company is close to completion of test work associated with the Feasibility Study, and the only element outstanding is filtration test work required for the selection of filtration units necessary in the leaching circuit. This is important for the finalization of operating and capital cost estimates. It is hoped that these results will be released early in 2016."
So even management is living on hope now, because they don't have the means to advance the work. And they are only talking about test results, not the FS itself, which now seems to be slipping away again after being promised with a firm deadline more than once.
So either another financing is immiment.. or what?
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It's simple Treetop2. It's either another PP diluting current shareholders (to death) or time to turn belly up?
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T2, You believe AGG will go bankrupt???? That is not good news for jdn55 and the long and whoever bought in PP at 5 cents?