RE:RE:RE:Fsx groundhog,
Last known cash balance was mentioned as "in excess of $25 million" in the May 20 press release.
Gawd only knows what the company has spent in the subsequent 2 months, with drilling commencing at Moormbool, and restarting at Golden Mountain, plus some other targets
referred to in news relesses. I would hazzard a guess that by end of Q2, FSX still had more
than "$21- $22 million cash. Burn rate, who knows ? .All depends on how many meters of diamond drilling has been completed and paid for, and if assay lab(s) have been paid .... (if results were already back), time frames for yearly concession fees, any acquisitions of additional properties etc .
Time will tell I suppose, but it seems like quite a few people have thrown in the towel with the share price back down to IPO levels. Not overly concerned, but the length of time for assay results indicates serious problems with assay lab backlogs and/or onerous working conditions pushed onto companies by moronic government officials ...... or it is simply poor results that will be buried in a news release if/when the company can report some sort of decent headline numbers.
Not very encouraging at the present time.
groundhog wrote: Tad,
Good and interesting comments on FSX.
Just wondering if anyone knows the present cash level in the Treasury and the company's burn rate.
Thanks.
GH
GLTA !