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Providence Gold Mines Inc V.PHD

Alternate Symbol(s):  PRRVF

Providence Gold Mines Inc. is a Canada-based mineral exploration company. The Company is engaged in the process of exploring and evaluating its mineral property located in California, United States. It owns 100% interest in Tuolumne Property. The Property includes over six parcels and approximately thirteen 20-acres of mining claims. It consists of over nine claims contiguous to the existing claims for a total of over seven patented and approximately 22 located mining claims, encompassing an area of approximately 324 acres. It owns 50% interest in the Providence Mines Property, which is situated in the Summerville Mining District, Tuolumne County, California, upon the eastern belt of the Mother Lode District. Its subsidiary is Providence Gold Mines (US) Inc.


TSXV:PHD - Post by User

Post by KozmoTon May 01, 2023 5:00pm
101 Views
Post# 35423731

Thanks for the warning Gamble! and Holy Schitte!! WTF??

Thanks for the warning Gamble! and Holy Schitte!! WTF??They spent only $10k on Exploration in all of 2022 (Note 5) but awarded themselves (Realted Party Transaction - Note 8) $60K in Accounting fees(?!?!) $84K in "Consulting Fees" $36K in Management fees and $72K in "Geologic costs"  I can't be reading that right ... anybody else have a different take?

To top it off they ended they year with an Expense burn rate of $322K (which makes no sense given how little they spent on exploration) and only $4800 in Cash but $77K in Trade Payables.
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