Just a little disinformation to clear up. The company does not have a office in Calgary to close. Staff that were layed off, were drillers at the project site. They had completed their drilling, and the contract ended. As far a running out of money, they are financed to the end of the year. The company's expenditures were high at the start of the year, but the cash drain (Drilling for permits) has been completed. Current burn rate is about 300K/month. So we are financed to the end of the year!
What we are not financed for is the construction of the mine. Management is busy trying to get the best deal for the shareholders.
The release today was excellent news. Like the release of the Bankable, it will take a few days for the market to notice. Calls have to be made, meetings held etc.
Comments
Kapboy