KEY FACTS FROM latest MD&ADGO Jan 31 20222
Source: www.sedar.com
Cash & receivables 346,563$
Current liabilities 149,909$
Net cash available 196, 654$
Monthly burnrate 104, 176$
MD&A as of Jan 31, 2022
Liquidity and Capital Resources The ability of the Company to meet its obligations as they come due is mainly dependent on its ability to continue to fund operations through equity and/or debt financings.
The Company has a cash balance of $92,798, GST/QST recoverable of $253,765 and working capital of $181,540 as at January 31, 2022, enough to maintain corporate capacity and complete planned exploration activities.
Key management personnel compensation
For the period ended January 31, 2022
Consulting fees with a company controlled by the President of the Company $ 60,000
Consulting fees with the CFO of the Company 12,000
Director's Fees 8,000
Total: $80,000
As at January 31, 2022 and 2021, amounts due to related parties were owed to the CEO, CFO and directors of the Company. The amounts due are non-interest bearing, unsecured, and due on demand.
As at January 31, 2022, the Company was holding cash of $92,798 to satisfy accounts payable and due to related parties of $149,907.
The Company plans to obtain cash inflows from share capital financings. There can be no guarantee that management’s efforts to raise additional funds will be successful