RE: too much paper printed now"Look for a 1 new for 10 old reverse split and not 1 new for 5 old..bet they wish bruce was still on board as he was able to promote it and keep share price in the teens...ps take a look how much cash they have on hand...scary stuff "
After paying for the Airborne Magnetic and TEM Survey, along with expenses for the past 3 months, I'm guessing they have approx $400K left. Definitely not enough.
I really don't think there will be a rollback at this time (of course, I've been wrong before). I'm thinking there will be another 30M shares at $0.06 to pay for a drill program and see them through the fall.
With respect to drilling, I suspect they are waiting for Fipke, since Metalex recently completed their airbourne survey and they will be looking to drill soon. My reasoning: Fipke is operator on both, Metalex property is close by, and probably looking for a deal with drilling company(s) to do both properties. All IMHO.