Financial condition of companyA little over a year ago, they raised $80 million as part of the merger agreement, and now they are strapped for cash?
BTW, the Press Release is full of BS.
For example:
"...a critical part in the drying circuit caused the mill to be shut down for repairs. It will reopen as soon as possible. In the meantime Small Mine Developers, SMD, the ore subcontractors, has demobilized its equipment and personnel."
"...demobilized its equipment and personnel." Hmmm...the way they wrote that it sounds similar to a defeated army making a "strategic withdrawal".
Separately, who will reopen the mine as soon as possible?
"The pre-feasibility study at the Company's Ketza River Project in the Yukon Territory is continuing on schedule."
Do they have any money left to continue with the pre-feasibility? The tone of the Press Release suggests to me that the company is broke, even though they are trying to give the impression that it's just the Jerritt Canyon operation that has financial difficulties.