Oooooops, FT funding disappearedSo there is $1.8mil of FT that has to be spent by Dec 31, 2017. There is $484k in the bank as at March 31, 2017 so how much is left by now after 5 months of consultancy fees is anyone's guess.
Could any financial whizz kid explain how you can spend $1.8mil, when you only have $484k in the bank?
Cash , end of period 483,768$
13. Contingencies (cont’d) b) During the nine months ended March 31, 2017, the Company received $3,184,000 from flowthrough share issuances. According to the tax rules, the Company has until December 31, 2017 to spend this amount on qualified exploration expenditures. As at March 31, 2017, the Company had an unspent amount of approximately $1,797,000.