Post by
Red_Deer on Nov 28, 2022 4:05am
September 30th Quarterly Financial Report,,,,,,,,,,,,,,,
Financials just reported on SEDAR__and they generally are consistent with the Year Low
share prices we have seen the past month.
Without the SPROTT $$$$ recently announced, it seems that Trigon would be in a VERY DIRE financial Going Concern situation__with hardly any cash left at end of September
Most NoteWorthy was that Trigon reported for the 6 Month Period ending September 30th Total
pre-production Revenues of $807,971__BUT it Cost $1,322,635 to mine and produce the copper concentrates from the Open Pit Contract mining.
Simply put with copper concentrates at Less than 20%__such concentrates will remain UNECONOMIC and thus putting the mine into Care and Maintenance Mode last August was
likely the correct move.
One other figure that jumps out is the ONGOING large expenditures on "Consulting Fees"__to the
tune of 1,010,984 for the 6 Month Period ending September 30th__which by itself ATE UP almost
all of the 6 month Revenues.