Looking back on the interim financial statements 2015-02-27From the
Interim financial statements/report on february 27,2015: --------------------------------------------------------------------------------------------------------------
"As at December 31, 2014, the Company had a
working capital of $9,330,124, had an
accumulated deficit of $16,195,698 and incurred a loss of $1,755,960 for the six months then ended. Working capital included cash and cash equivalents of $11,748,024 of which
US$2,500,000 is reserved for the next payment to Quinto Mining Corporation (note 5).
Management
believes that the Company has sufficient funds to meets its obligations and planned expenditures for the ensuing twelve months as they fall due. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least, but not limited to, twelve months from the end of the reporting period.
The Company’s ability to continue future operations and funds its exploration and evaluation activities is dependent on management’s ability to secure additional financing in the future, which may be completed in a number of ways including, but not limited to, a combination of strategic partnerships, joint venture arrangements, project debt finance, royalty financing and other capital market alternatives. Management will pursue such additional financial sources when required, and while management has been successful in securing financing in the past, there can be no assurance it will be able to do so in the future or that these sources of funding or initiatives will be available for the Company or that they will be available on terms which are acceptable to the Company." --------------------------------------------------------------------------------------------------------------
From the above the company says "it believes" it has sufficient funds but there is no certainty and they say they have no assurance or be successful to get additional financial sources going forward. Furthermore, its coincidental that the SP has slowly started dropping after the
Interim financial statements/report on february 27,2015. Do you DD and check the chart.
You got to understand that the graphite ressources from Mason is not what is at stake, its the capacity for management to bring to market their projected plans which seems not so certain from what I read above. imo.