1.5 years of operations - still burning cash This comment on CEO:
"Interesting data on explorers vs producers. I’m assuming GMTN is somewhere in-between as their model for a startup mining company is unique. Production is improving and eventually so will their SP. Bullish"
Production is not improving. Rates are down. This company should be achieving much higher production rates based on their PEA. How long does it take to blast and remove rock and load ore?
They continue to burn cash and mislead shareholders.
They have no way to raise cash without extreme dilution. They are no closer to increasing ore rates at the capacities indicated in the PEA. The PEA is wrong. What the leadership team has done to the shareholders is criminal.
$50million burned. High accounts payable. Extreme strip ratio. Bankruptcy pending. Shareholders continue to be pissed and lied too.