RE: Roll Back?
Over the last couple years, the Company has been able to raise some significant cash (about $12M). Last year they spent $3.7M on exploration, while the previous year they spent $8.2M on exploration. Looks like they wrote off both the Alaskan and the Mexican properties last year, but kept their BC property (Trapper). The recent SEDAR report indicates the Company has cash equivalents of $1.4M left (which are held in redeemable guaranteed investment certificates maturing on June 20, 2013). They picked up three new properties last Nov - one in BC (Jesse Creek) and two in ON (Rous Lake and Toothpick), with exploration commitments of $1.4M before the end of the year, so that's the rest of the cash they have. Seems like they are going to run out of money before year end, so they will have to raise cash again to keep going in 2014. Considering their stock is at 3 cents and they have 81M shares out, I would have to agree a roll back will occur sometime this year. I doubt it will happen at the 20 for 1 you suggest though. I would think a 10 for 1 would be more than sufficient, which would bring them down to 8.1M out and a chance to raise new cash at 20-25 cents.