Interim Financials and MD&AInterim Financials and MD&A for the nine month period ending 30 November 2013 were posted to SEDAR today. Not much new, but a couple of items of interest to me:
1. At the time of the original agreement to purchase Opunake Hydro (May 13, 2013) the estimated purchase price was $5,584,000 (based on 14,461,567 shares having been issued at the volume weighted average price of CRD shares for the 20 days previous to May 10, 2013...a price that computed to ~$0.386/share)...that purchase price has since been lowered to $4,049,239 (based on the value of the 14,461,567 shares having been issued at the closing price of CRD shares on the closing date of September 27th, 2013...a price that now computes to ~$0.28/share). I'm sure that investors who are long CRD would prefer to have their shares worth either of these two amounts rather than the trading prices of today (i.e. $0.16-0.125/share). Wonder how long it takes to see CRD shares return to those levels...
2. Subsequent to November 30th, CRD received $596,638 as ~85% of estimated eventual payment for a shipment of concentrate that had been shipped from the Madison Gold property during the previous quarter...but, since the shipment, the mining crew has been laid off and the mine put on maintenance. There are still about 1,000 tons of ore awaiting milling once a nearby facility can be located to perform the task, and then what becomes of the Madison Gold property...?
Still at least as many questions as answers in these documents...but the intended future direction seems clear...gas-fired power generation.
GLTA