OTCQX:BGMZF - Post by User
Post by
GoldExecuteon Jan 29, 2014 1:55pm
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Post# 22148728
Page 15 MD&A
Page 15 MD&AI read the MD&A to say that as of end of November, that BGM only has cash on hand of $1.39 Million and that they have also a capital def. of $14.8 million.... That have already gone through $13.61 Million of the money received from sprott and no capital to move all the projects forward.
Any of the longs have any suggestions as to how you start a mill with so little cash to move forward, especially when you have such high overhead as BGM seems to have (overhead comment is my opinion based on review of the MD&A). The submitted Assays will eat up a large portion of the remaining cash.
Obviously, BGM has options to raise money, but is all that stipulated by approval of Sprott?
Have I mis-read the Liquidity statement?