GREY:DULMF - Post by User
Comment by
miningfundion Jan 23, 2014 3:25pm
295 Views
Post# 22126776
RE:RE:RE:RE:NEED for Finances? when does DM run out of $?
RE:RE:RE:RE:NEED for Finances? when does DM run out of $?Management have advised that the resource report is expected in the Spring and the PFS by mid-year 2014. I am guessing that the FS will take a further 12-18 months i.e. by mid-end 2015.
The burn rate is high: exploration, G&A, etc. seems to be running at about $4.5 to $5.5 million per quarter (seems awefully high - needs to be cut back!) and project cash calls seem to be about the same level (but should be less during the PFS and FS phase?). DM had cash of about $10.9 million at the end of October 2013 so a new financing should be close. Management is probably hoping to defer it at least until the resource report (not too exciting?) or, ideally, until the PFS (hopefully very exciting?) - push the sp up.