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Granada Gold Mine Inc V.GGM

Alternate Symbol(s):  GBBFF

Granada Gold Mine Inc. is a Canada-based junior natural resource company. The principal business of the Company is the acquisition, exploration and development of mineral property interests. The Company is engaged in developing and exploring its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, which is adjacent to the Cadillac Break. The Granada Gold Property is located five kilometers south of the mining community of Rouyn-Noranda, Quebec. The property includes the former Granada Gold underground mine. The Company owns about 14.73 square kilometers of land from a combination of mining leases and claims. The Granada deposit is a quartz-vein mesothermal gold deposit hosted by late Archean Timiskaming sedimentary rock and younger syenite porphyry dykes.


TSXV:GGM - Post by User

Bullboard Posts
Post by tomgraniteon Aug 30, 2017 9:29am
118 Views
Post# 26636272

Oooooops, FT funding disappeared

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.
Bullboard Posts