OTCPK:MAGNF - Post by User
Comment by
HonestAbeon Sep 19, 2012 2:39am
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Post# 20383840
RE: drilling
RE: drilling Management took the initiative earlier this year to enter cash preservation mode due to the difficult and challenging equity markets for junior explorers in raising capital. Therefore no exploration drilling was conducted for most of 2012. Their intentions is to begin drilling at Coringa late 2012 to early 2013 and at Cuiu Cuiu in first half of 2013. As of Jun 30, 2012 financials they had working capital of $4M.