Kirkland Lake Discoveries Corp V.KLDC

Alternate Symbol(s): KLKLF

Metals & Mining Gold

Kirkland Lake Discoveries Corp. is a Canada-based mineral exploration company engaged in the acquisition, exploration and evaluation of resource properties. It has a prospective land package in the Kirkland Lake Gold Camp in Ontario, Canada. The properties are hosted in the Abitibi Greenstone Belt. Its properties assembled include the Lucky Strike Property, Arnold Property, KL Central (KLC), Goodfish-Kirana and the optioned KL West (KLW) Properties. Its land position comprises approximately 38,000 hectares (ha), over 1,338 claims, and 29 patented claims. The Arnold Property comprises 28 claims covering a total area of 1,225 ha. The Lucky Strike Project is located immediately to the east of the Company’s Goodfish-Kirana Project, in Kirkland Lake, Ontario, and consists of 644 unpatented mining claims covering approximately 11,506 ha (116 square kilometers). The KLW land package comprises 107 mining claims. The KLC land package comprises eight mining claims for an aggregate of 115 claims.

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Kirkland Lake Discoveries Corp

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Post by Kantenahon Dec 19, 2008 10:29am

738 Views

Post# 15656875

Burning Cash

Based on the latest press release, WAR has $2.7M in cash reserves as of December 15th. According to their financial statements, they had a little over $3.4M in cash at the end of September. Doing some rough math, it looks like WAR is burning about $300K of reserves per month.

At this rate, they have sufficient reserves for another 9 months of operations. The big question is, will they have any new revenue sources coming online in the next 9 months? If not, dilution is probable.

Any thoughts?

-K

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