Liquid Cash As of the end of the last quarterly report we had the following cash and liquid cash equivalents..
Cash.................................... ,...........................................................$10.25 million US
Excess of Gold Dore over Streaming liability..........2000 ounces = $3.7 US
From Sale of Murchison"...................................................................$30 m US
From Sale of Tuckanara in USD........................................................$3.75 m US
Total cash and liquid cash receivables...............................................$47.7 million US
Expected cash from Q2 Production....................................................$1.0 m US
Total available cash and liquid cash equivalents ................................$48.7 million US
Converted to CAD "..............................................................................$63 million cad
20% of the Burnakura JV with ODY.............$8 million in cad.
Now, you might ask why this management team want to finance $20 million US for their unsupportable installation of a Floatation unit for a market that they have not researched nor computer as providing an acceptable IRR.
Obviously, we have the cash to do that and provide for the $ 7.0 million US for the Murchison project....a total of $27 million in total .
Well, is it possible that they want to finance that $20 million US with an equity based financing provided at very generous terms to their friends and supporters that would ensure their majority support in any proxy battle ?
Would they be that transparent and is that their initial empirical demonstration of veiled transparency to shareholders whom they may consider too dumb to notice ?
Stay tuned..