Banks Island Gold Ltd BKSLF

ME -UBC's finances

[miningman]

I  Luv you guys.  With very few exceptions posters on this board must be looking at the world with incredibly rosy glasses.  But try this one on for size , using UBC's own projections at 1636 ounces per month,  paying off approx $530,000 per month on a $ 4 million loan ,  if all goes according to plan,  the debt is paid off in 8 months.  But wait!!.  BOZ has previously indicated that they only have 6 months production in sight.  Where is the cash coming from to diamond drill and develop the new reserves that will be necessary to continue operations??  Does anyone here think that 1636 ounces per month is adequate to break even???  Try at least 50% more than this.  And remember , even if  monthly production is inadequate to break even ,  the loan payment comes out of cash flow before any other bills are paid.    How long are suppliers expected to wait for outstanding invoices to be paid. ?  The good thing is that flow thru money can be used for diamond drilling expenses but posters here seem to have problem with the increased dilution.  Where is the cash coming from unless production rises to 80 or 100 ounces per day??   But hey , things are so rosy that UBC thinks the operators can leave ore in place today ,  even if it is part of the 6 months supply that management is counting on.as mill feed for next month.