OTCPK:CTNXF - Post by User
Post by
adirondackon Nov 24, 2015 1:49pm
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Post# 24320518
Alive.....but 4th Q needs good news.....
Alive.....but 4th Q needs good news....."Due to current economic market conditions the Company has been unable to attract equity investment so far in 2015, as a result of which we have continued to reduce costs by closing the office in Mount Pearl, Newfoundland at the end of November as well as closing the Quito office and laying off most of the Company’s staff. Keeping its mineral concessions in Ecuador and Chile beyond March 2016 when annual concession fees are due in advance is dependent on further financing being obtained (except for the Company’s 15% interest in the Cascabel joint venture in Ecuador, 100% of the costs of which are being financed by partner SolGold Plc). While the Company has been successful in raising financing in the past, there can be no assurance that it will be able to do so in the future."