New Omai Financing coming Why did the CEO say the quote below. They had $1m in working capital -$2m in cash at the end of June and they burn at least $1m a quarter and we are now going into November. They are out of cash and need to raise $5m plus to add real value. This is going to be extremely dilutive as it will be at 5 cents or less. "In addition to more than doubling our Resource Estimate in nine months, we were able to accelerate and exceed our goal of bringing the Gilt Creek Gold Deposit and a Wenot Deposit expansion into the Company’s MRE before year end 2022.” - Elaine Ellingham, CEO
that means the 300 million shares outstanding is now 400 million. I understand why they did not drill Gilt creek. I think with fuel costs it will cost $300,000 to drill each hole. At gilt creek I read that there is water there and difficult to drill due to all the water. If they mine underground how will they manage all the water inflow to pump out water as there is no electricity at site.