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Douglas Lake Minerals Inc DLKM



GREY:DLKM - Post by User

Comment by stockarchangelon Aug 15, 2011 11:10am
196 Views
Post# 18942358

RE: RE: RE: CAN DLKM Marriage

RE: RE: RE: CAN DLKM MarriageWithout going back to check the EXACT figures, CAN had already spent about $13 million of those funds as of May 31. Their current expenses seem to run about $2 million per month in drilling (as per today's NR) and about $1 million per month in administrative expenses (as per SEDAR). In 13 months, from May 2011 - June 2012, they will spend at least another $36 million. Add in $4 million thrown at Tigray, plus other expenses (building an on-site assay lab, etc), and they will easily burn a minimum 50% of that cash pile by end of June 2012. No, I don't think they will have enough to start mining. That is not to say they won't do another PP or other means of financing.
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