Latest financials just released Over a period of six months, as a consequence of the high share price, warrants and options brought in ~$2m for a total of $334,276/month on average.
Cash position was $862,589 as of 30 June, 2021 despite the fact that expenses have gone up substantially from all the mining and purchasing of new equipment. Things are going to look very good once we are paid by Ocean (should be at least $2m for the initial deal) and get re-rated as a full-fledged producer. Tinhos believes that this will happen soon on the basis of the numbers which you can see on the big bags (up to 50).
ceo.ca appears to miss the fact that the company does not usually have a large burn-rate and that it is only higher now because they are mining. Last year for example it was $250,000 a month, and that was itself an exceptional year. It costs $750,000 CAD a month to mine at 100 tpd according to Graeme. https://ceo.ca/bhs?2fd57c944ae9 Current burn-rate of $500,000 CAD/month would therefore lead us to presume that the company may be producing up to 66 tpd (~1300 oz/day after 90% recovery at 21.64 oz/t). We can see all the big bags in the pictures as the presumptive reward for all the work, now we simply wait for payment to get received.
https://www.sedar.com/GetFile.do?lang=EN&docClass=5&issuerNo=00021975&issuerType=03&projectNo=03267284&docId=5030378