MGMT Plans /CASH Positiion/FUNDING NeedsThe MGMT, which had a slight change, should communicate with investors their plans going forward for the Property, further exploration and potential production
Currenct Cash position end of 3rd quarter was $550,000 (rounded), based on Sedar filings, no indication how much of these funds were spent in the 4th quarter? OMM just raised $271,000, 9 flow through). Towards the endof 2013, reports on Sedar, showed cash position was $1150000 (rounded). ( To MGMT of OMM if I am incorrect on these numbers please advise)
In prior public statements and comments by Tim Termeunde, on the funds required to buid a mine, Tim noted a number of $10 mil plus was required ( add in cost over runs and the new updated costs). the question I have and investors have where will these funds come from, especially in this tight Financial MKt for Resource Companies and MKTS. Issue 100 mil shares at 10 cents??
Other companmies are putting out statements about costs and future plans, await OMM's, perhaps put them out when you post and file the Annual Audti for 2014?
all the above in my humble opinion and based on Sedar filings/comments made by Tim Termeunde and FNR on CVG/OMM.