GREY:ADEXF - Post by User
Post by
HVAN1on Aug 29, 2012 12:43pm
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Post# 20274736
SillyExpense
SillyExpense $240K to mobilize and $19K for camp costs, both charged to Anik in Q2, as preparation for exploration programs that have now been deferred.
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Let me get this straight. AXI spends $259K to prepare for 2012 exploration programs at Anik (VTEM survey, hyperspectral survey, drilling program etc), that they have no money to pay for. They press release their ridiculous plans (check out the press release about hyperspectral: https://www.advanced-exploration.com/newsroom/press/May0312.html Can you be more long winded, Gingerich?). Predictably, no cash infusion comes in to pay for these ridiculous programs, and they're cancelled. And that $259K goes down the drain.
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These clowns have no idea what they're doing.