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Unigold Inc V.UGD

Alternate Symbol(s):  UGDIF

Unigold Inc. is a junior natural resource company. The Company is in the business of exploring its mineral concession properties in the Dominican Republic (DR). It is focused on exploring and developing its significant land position in the DR, within the highly prospective Cretaceous-age Tireo Formation. The Company’s Neita Concession encompasses 21,031 hectares (ha) of the Tireo Formation, a thick sequence of intermediate volcanic and volcanoclastic rocks produced by island arc volcanism that are highly prospective for Porphyry Cu and Cu-Au deposits; High to low sulphidation Au and Au-Ag epithermal deposits, and Volcanogenic Hosted Massive Sulphide (VHMS) Au-Ag-Cu-Pb-Zn deposits. Its Candelones Project is located south of the town of Restauracion in the northwestern Dajabon Province of the Dominican Republic. Its Candelones oxide gold deposit is within the 100% owned Neita Fase II exploration concession located in Dajabon province, in the northwest part of the Dominican Republic.


TSXV:UGD - Post by User

Bullboard Posts
Comment by Buzzard64on Jun 17, 2014 7:31pm
107 Views
Post# 22668888

RE:RE:UGD has 4million cash = 2cents per share?

RE:RE:UGD has 4million cash = 2cents per share?As at March 31, 2014, the Company had cash balances of $3,900,847 (December 31, 2013 – $5,015,425) and working capital of $3,798,614 (December 31, 2013 – $7,916,973). The above quote is from the May 21/14 news release. So between December 31/13 to March 31/14 they have burned through $1,114,578 or about $371,526 a month. Maybe all those incentive bonuses came due....LOL. So we take that same rate and apply to April, May and 1/2 of June that leaves about $2,972,039.50 of Cash or 2,869,799 of working capital. That is if they've burnt the cash at the same rate. Looking pretty slim now wouldn't you say. Plus there has been no drilling to boot. Maybe this is what the Anon thinks they know or figured out. At this burn rate they will be broke by January or February 2015. I say plug a hole down close to where those miners died, whatever was there was significant enough to be mined by hand and enough for them to risk their lives for. Drill baby drill!!! B
Bullboard Posts