RE: RE: 009, come on downSole,
Surely you must understand - IF assays come back less than stellar - then the future of the company is in doubt. You can't keep raising money to drill based on empty drill holes ... or paying off drillers with shares.
Soner or later the company has to hit bonanza grade near surface in sufficient quantites to satisfy creditors or they will revolt.
The latest financials show cash on hand of $3,667 and receivables $448,139 - yet the company is burning through about $160,000 per quarter before drilling expenses.The company owed over $4,002,000 at the end of the period - that's a debt to cash ratio of almost 9 to 1 up from the 6.4 to 1 ratio at year end. That ratio is heading in the wrong direction.