RE: Smokin' Blow " how many other people will he take down with him?"
Lots of MSQ paper was sold to friends of Cruz and the Kid over the years. I expect that those still holding (waiting for $5 by Xmas, fer sure, fer sure) are way under water, and I can't see that changing before the inevitable roll-back, which has to occur if the BOD isn't removed (and likely even if the dissidents win).
At March 31, 2012, net cash was about $3 million (receivables, recoveries, paper and inventory are dubious).
Cash burn, with no drilling, is about $300,000 per month. April to September (when the year-end financials will be released) is six moths of $300K per month, or $1.8 million.
That leaves $1.2 million, or 7,270 feet of drilling (2,215 metres). The 2012 drilling program calls for 20,000 metres of core drilling and 50,000 metres of reverse circulation (229,656 feet of drilling). That leaves 222,386 feet of drilling which is unfunded.
Tap city...again.
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