Cash balance now down below $6 million ... so half of the funds raised in the IPO have been spent.
LVX shares worth about 6 pennies .
Would be nice if shareholders got some sort of exploration update after more than 4 months of silence ..... considering how much money they're spending .....
Note 7 :
7 EXPLORATION AND EVALUTATION ASSETS (cont’d…)
During the period ended December 31, 2021, the Company incurred exploration costs as follows:
Exploration Expenditures
............ Avoca Project / Timor Projects / Total
Assay - $ 37,749 - $ 85,636 - $ 123,385
Data compilation - 16,664 - 16,664 - 33,328
Drilling - 168,234 - 505,868 - 674,102
Equipment rental - 11,532 - 3,733 - 15,265
Field expenditures - 54,111 - 59,071 - 113,182
Geological consulting - 84,241 - 74,417 - 158,658
Geophysics - 39,233 - 39,233 - 78,466
Project administration - 2,760 - 21,668 - 24,428
Rehabilitation - 9,218 - 9,218
Report Preparation - 858 858
Project management - 45,000 - 45,000 - 90,000
Salaries and wages - 81,774 - 153,109 - 234,883
Tenement administration & fees - 14,636 - 7,358 - 21,994
Travel - 13,115 - 4,154 - 17,269
.............. $ 569,049 / $ 1,025,987 / $1,595,036