RE:RE:RE:RE:RE:Financials out NEWS NEWS NEWSThis news just reinforces how cash burn is now the main issue with this company. An investment here, drilling there, and a PEA in another place, and soon the bank account is running low. Oh yeah, and a special dividend that consumes nearly half of the cash. This seemed less problematic when they had over $20M, but now they are approaching the "E" on the fuel gauge, and some decisive direction will emerge, depending on who has to fund the next round of investments and exploration. If they have to go to market, look out below.
In terms of drilling, does anyone think the market will care about copper found at depth east of Dease Lake, even if they find something worthy of a NR? Explorers are in the dog house and most are doing their best to minimize spending cash to survive. CUU has spent this past year like it was 2011 again.
This company has a market cap far beyond it's level of activity and operation. It operates like a $5-10M exploration company, and has one additional large asset that is controlled by a partner. If the partner telegraphs continued disinterest in prioritizing the project, the market will revalue CUU accordingly,which has been going on steadily for the past year. With the share count, what does a $5-10M market cap equate to? I assume people can do the math.
I read in some copy paste somewhere about a tax return that would help out the financials here? When has this company paid taxes to get a return on? They are an explorer with no revenue and probably have just amassed a large credit towards future income. Maybe I don't fully understand what is being discussed with this issue. I would appreciate comments if someone knows otherwise.