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KENNADY DIAMONDS INC V.KDI

"Kennady Diamonds Inc. is a Canada-based diamond exploration company. It is engaged in the exploration, discovery, and development of diamond properties in Canada's Northwest Territories."


TSXV:KDI - Post by User

Comment by MrBiggeron Jun 12, 2015 8:04am
85 Views
Post# 23823393

RE:RE:I would wait to buy

RE:RE:I would wait to buyThey had 10 million in April according to their own presentation. They burn through 3-4 million a month. They will need cash soon. "The Company’s budgeted expenditures for the winter/spring 2015 programs is approximately $18 million to $19 million. The recently completed financing plus the available cash at December 31, 2014 will be sufficient to settle all liabilities at March 31, 2015 and the remaining costs associated with the winter/spring 2015 exploration program, but will not be sufficient to cover general and administration costs for the next 12 months. Depending on the exploration results of the winter/spring 2015 program the Company intends to raise additional funds for the planned summer/fall 2015 program."
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