Cash on hand vs. expendituresFrom their period ending Dec 2022 financial statement, they spent $620,000 in exploration and evaluation costs at Big Balds and Sandman properties and also booked a $700,000 loss in expenses. Their cash on hand as of Dec 31st was 1.35 Million. At the rate they went through their cash in 2022, they could be less than 6 months away from running dry. I smell dilution on the near horizon.
Also, their stake in Raiden from their sale of their Bulgarian properties seems to be all but worthless after the last month.