RE:Weekly Stats And Late Sunday CoffeeDoumDiDoum wrote: Q3 production results were published this week with Point-Rousse producing 5k ounces during the quarter. Let's hope Argyle will allow us to extract the remaining gold without hicups. We have 12M$ ca$h in the bank which should be enough to avoid going to the equity market for financing at this low SP level ...
I am really praying that we can finally generate meaningful cash from Argyle in Q4, because I'm afraid we are running pretty low on cash. At the end of Q2, we had around 11M$ cash in the bank, but we had a lot of short term debts, leaving us with a working capital deficit of -1,5M$. With the production numbers we got for Q3, I don't think we have much AVAILABLE cash from that 12M$ to drill while working to advance Goldboro towards production and paying for administrative expenses.
I'm pretty sure Kevin is hoping for the gold market to turn around, allowing for a share price increase, because we will surely need to do a financing before we can initiate any kind of meaningful drill campaign.