Cantex Mine Development Corp V.CD

Alternate Symbol(s): CTXDF

Metals & Mining Industrial Metals & Minerals

Cantex Mine Development Corp. is an exploration stage company. Its principal business activity is the exploration and development of mineral properties for commercial mineral deposits, and it is considered to be at the exploration stage. It is focused on its 100% owned 20,000-hectare (ha) North Rackla Project located about 150 kilometers (km) northeast of the town of Mayo in the Yukon Territory, Canada where high-grade massive sulphide mineralization has been discovered. Over 60,000 meters of drilling has defined high grade silver-lead-zinc-germanium mineralization over 2.3 km of strike length and 700 meters depth. It has a 100% interest in four mineral properties in Nevada. It has two projects in Yemen: Al Hariqah (Gold) and Al Masna (Nickel, Copper, Cobalt). The Al Hariqah is a near-surface gold deposit located about 130 km northwest of Sana’a, Yemen. The Al Masna’a nickel, copper, cobalt project is located in the Saadah region some 205 km north-northwest of the capital city, Sana’a.

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Cantex Mine Development Corp > Use of Funds?

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Post by Oregonduckon Apr 17, 2023 11:05am

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Post# 35398361

Use of Funds?

Chuck doesn't tell shareholders the amount of Flow-Through (FT) funds that will be used for drilling Rackla, and the Non Flow-through (NFT) funds that will be used for working capital. The financing is fairly small and there is a big working capital deficit leaving little for drilling.

It is uncommon to not delineate the Use of Funds in an underwriting. It is also customary that the stock will likely drop after financing,

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