GREY:NWSKF - Post by User
Post by
goindeeperon Jun 27, 2014 10:39am
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Post# 22700356
Operational expenses are only $172 000/month
Operational expenses are only $172 000/monthat current burn rate (9 month operating expenses of $1 547 167 shown on page 17 of June MD&A).
The rest of the expenditures since July 31, 2013 were variable and discretionary expenses in land aquisition ($874 602) and exploration ($5 731 233) (pg 16 of June MD&A).
The current exploration expenses are much less now since the intensive drilling program for the updated 43-101 is complete.
Current cash balance as of April 31, 2014 was $7 584 909 (cash-current payables).
Assume a still significant aquisition and exploration program expenditure of $300 000/month. Add $172 000/month operating expense = $472 000/month
Therefore NES still has cash for a minimum of 16 more months from April 31/2014 to continue operations.