MD&A Jan 2023 So the new MD&A was just posted and as suspected there was a massive warrant dump. Roughly 5M warrants were exercised, specifically after the Permit news. Sure they brought in around $8.5M into company coffers but our stock price suffered.
Another interesting highlight is that they added 250km2 land to their claims, bit can't recall seeing any NR about it. Hmm... transperant management?
Some other info:
- compensations ballooned 3x so they are rewarding themself
- Design is still 50% Front End done (based on paid fees), so Detailed design is months away so is construction. Just a note they were supposed to fund FE with the Nov 21 PP so to be ready now, obviously it's not
- Still have $27M in the coffers
- To date deficit of $47M.. so that's how much they have spent with no revenue
- Some drilling results that we know about
- No mention of financing which is odd
Verdict: not happy, particularly since the Front End Design is not done!!! This will delay the construction further IMO