OTCPK:MEAOD - Post by User
Comment by
TomyHHon Mar 02, 2011 12:32pm
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Post# 18219583
RE: MD&A delayed from 2010 release date?
RE: MD&A delayed from 2010 release date?MD&A is out
There will be lot of drilling this year ($11Mio)
"The cash and cash equivalents totalled $3,588,522 as at December 31, 2010 compared to $2,873,226 as at December 31, 2009. The Company is committed to spend $11,330,567 in exploration expenses relating to flow-through financings closed in 2010. These expenses must be spent before December 31, 2011."
They revolving credit was reimbursed in January
"On December 31, 2010, the Company had a net negative working capital of $3,563,061 compared to $5,914,668 on June 30, 2010. The negative net working capital is mainly due to the reclassification of the revolving credit in current liabilities due to the expiry date which is November 30, 2010. On January 31, 2011, the Company reimbursed the total amount of the revolving credit, following the Sandstorm agreement (see page 13)."