Post by
Canbea on Mar 27, 2023 8:23pm
PP
From their corporate presentation(see below). They are about to run out of cash. Unless they have an operating line of credit that we don't know about. $400,000 don't last long in this business and beens almost 8 weeks since the presentation was put out.
I for one do not want to see a PP. I want to see the exercise of all the warrants at $.44.
To do that they need to release the rest of 2022 drill results, release more GM results, release 43 reports and or sign a JV. Those would help take the price up. Exercising the warrants would keep all insiders and institutions at the same ratio as they are right now. I could live with that. But more flow through shares and special purchase warrants as it gets diluted is unacceptable at this point. I guess Chuck could always try to take it private, that may work out well too for current holders.
Hopefully(again the worst invetment startegy is hoping) we get some sort good news soon.
Issued and outstanding 86,654,561
Warrants outstanding (average strike price $0.44)
24,494,510 Options outstanding (average strike price $2.40) 1,846,000
Recent share price $0.225
Market capitalization $19.5M
Cash position $400K (Feb 10, 2023)
Comment by
carter2 on Mar 28, 2023 11:53am
You think Cantex is in financial trouble you think CD runs on a line of credit ? Then you don't know Chuck or what he has done to keep this exploration company operating. You sound scared maybe you should sell and buy something safe.
Comment by
Massivesulfide on Mar 28, 2023 5:54pm
Yeah what MK and Carter2 said again! ;)
Comment by
pennymaker69 on Mar 29, 2023 12:35am
I think the lab results are already paid for. Hopefully with the release of that news the price will go up. Any drill program would be a smaller one. and not a large expense. It wouldn't take much for the price to move back up.