Read this from the auditorsReally you should. So I am not crazy or bipolar. This is from one of the biggest accounting firms in Canada. From the audited results published yesterday. Note that it states their opinion has not changed.
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Material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern For the year ended December 31, 2022, the Company had a net loss of $11,677,264, (year ended December 31, 2021 – $7,136,219), and had a working capital deficit (current assets less current liabilities) of $4,556,223 as at December 31, 2022 (December 31, 2021 – working capital of $1,397,113). The working capital deficit is mainly attributed to the current portion of loans balance at year-end of $11,235,775. The Company will no longer generate cash flow from its Point Rousse operations once the Argyle mine transitions to care and maintenance in Q1 2023, and cash as at the balance sheet date of $9,251,062 was insufficient to meet its planned expenditures for the next twelve months. In February 2023, Signal Gold completed financing with Nebari Resources for a credit facility of up to US$21,000,000. This credit facility provides for an initial draw of US$16,000,000 and a second tranche of US$5,000,000, at the election of the Company, subject to satisfaction of certain conditions precedent. Proceeds from the initial draw will be used to progress critical pre-development activities for the Goldboro Project and repay the existing US$8,000,000 senior secured facility (note 17). The Company’s ability to advance the Goldboro Project, which includes planned pre-development in excess of the funding currently obtained, is dependent upon its ability to raise additional funds from equity and debt markets, however there is no assurance that this will be successful. These factors indicate the existence of a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern.