RE: RE: RE: New Drill program at RG/MNV property a I don't mean to criticize but you have misinterpreted the financial statements of this company quite seriously.
-As of the end of December 2011 the company stated that they had $3.1 million in hard cash but they also raised flow through funds of approximately $950,000.00. This is required to be reported separately from the hard dollars apparently, but is in the financial statements I was told. (The flow through money must be spent on exploration). The total is just over $4 million (cad).
Their cash burn rated is stated in the MDMA (Management Discussion and Management Analysis) as $50,000.00 per month. (This obviously doesn't include exploration expenses which fluctuate throughout the different seasons).
We will see the payables and receivables soon, as the quarter is almost over and the company will be releasing their quarterlies. Then you can say for sure what they spent over the past three months, and what may have been prepaid etc.
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