Future dilution on his way…Not really a surprise... but worth mentioning... MD&A – Page 15:
“Management considers the working capital insufficient to meet the Company’s obligations and budgeted expenditures through November 30, 2015. Consequently, management must secure additional funding to ensure timely exploration and evaluation of its properties (Montviel and Anik) and pay for general and administrative costs. Global economic uncertainty remains and contributes to the volatility in the capital markets, which makes equity financings for exploration companies difficult. Any funding shortfalls may be met in the future in a number of ways including but not limited to the issuance of new equity or debt financing.”
So, let’s further explore our “ground-breaking Anik discovery", appoint additional management team, etc… but how to finance it?
Debt financing… Are you joking?