Kiska Metal Corporation KSKTF

Quarterly results

[oddykog]

The September 30th report is now available on the company's website.  There is nothing very new in the information on the projects in that report, though they do say that they expect another 15 drill holes at Whistler in the spring, which is quite a bit.

More interesting is the financial information, since this is now the first quarterly report of Rimfire and Geoinformatics together as Kiska.  Cash on hand at the end of the quarter was about $4 million and as expected Q3/09 was a heavy spending quarter due to the exploration work in Alaska and the expenses of combining the 2 companies.  Since the winter quarters are at lower expense level it looks to me as if they will have enough cash to get to the spring, but one must anticipate another issue of shares before the work on the Whistler property is complete for the Kennecott decision on whether they want to back in again. 

I am conflicted as to whether it is good for Kiska to have Kennecott come back in.  On the one hand the cash they would need to pay would fund the company for years to come.  On the other there is no guarantee, I believe, that Kennecott will not just exercise the back in option and warehouse Whistler for 5 or 10 years, which would not help Kiska become a miner in the medium term.