Financial report to Sept 30The quarterly re[port for the three months ending Sept 30 is on SEDAR.
The good thing is that the company has about $2.4 million in cash and is not going to dry up and blow away. Timely filing for a junior is always a good sign.
I hope that the price of gold srengthens but with the grade at the Elk property hey would be profitable at todays prices but patience until the market srengthens is probably a good path for the time being.
There is an incentive for management to use the 2012 drilling to update the resource calculations before Feb 2016 but this would certainly use up quite a bit of capital. I did not get a direct answer to my question to managemen other than that staffing has been reduced and they are doing he miimum in the way of spending pending an improvment in the market.
Because the executive is connected to Copper Mountain I suppose the copper price has an indirect but substantial influence on the risks that the company is willing to take. Almadex is the major shareholder but seems to be letting the management call the shots at this time.We'll see what happens at he AGM if Almadex wants to see the plans change.,