GREY:WFEMF - Post by User
Comment by
74volframon Nov 26, 2014 2:59pm
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Post# 23166908
RE:RE:financials
RE:RE:financialsAs at June 30, 2014, the Company’s cash balance was $2,617,802.
Net cash used in operating activities during the current year (ending Jume 30) was $1,423,870 (2013 – $3,443,071) - so their burn rarte is considerably slower than last year.
It looks to me they have enough to get to the end of the year. But Dec. 15 is the day. Which is when they either: 1) get IMC on board with the new plan and start the mine, 2) get the IMC loan extended and a new $4M share placement, 3) ....
I think it will be (2), but I am hoping for (1) on the reasonable chance that the drillilng program, revised resource assessment and new mining plan were all worked out with Dundee's KZ's and IMC's concurrence.