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Providence Gold Mines Inc V.PHD

Alternate Symbol(s):  PRRVF

Providence Gold Mines Inc. is a Canada-based mineral exploration company. The Company is engaged in the process of exploring and evaluating its mineral property located in California, United States. It owns 100% interest in Tuolumne Property. The Company’s gold mines consist of seven patented stake mineral claims and 22 located claims, encompassing an area of approximately 324 acres, which includes Bonita, Consuelo, FairPlay, Good Enough, McCarthy, Mexican, and Providence. The Providence Group of Mines is located in the Summerville Mining District, Tuolumne County, California, upon the eastern belt of the Mother Lode District. Its subsidiary is Providence Gold Mines (US) Inc.


TSXV:PHD - Post by User

Comment by KozmoTon May 03, 2023 10:16am
46 Views
Post# 35427336

RE:Ignore the bashing that is @kozmot

RE:Ignore the bashing that is @kozmotLOL, "didn't read the financials"?!?!?  Where did you think the numbers I posted came from Einstein? ... I even gave you the Note numbers they came from!! ... they are beyond flat broke.

"They spent only $10k on Exploration in all of 2022 (Note 5) but awarded themselves (Realted Party Transaction - Note 8) $60K in Accounting fees(?!?!) $84K in "Consulting Fees" $36K in Management fees and $72K in "Geologic costs"  I can't be reading that right ... anybody else have a different take?

To top it off they ended they year with an Expense burn rate of $322K (which makes no sense given how little they spent on exploration) and only $4800 in Cash but $77K in Trade Payables."
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