RE:RE:⛏️ MGM 🍁 Morris Property? "The Morris property is located approximately 30 km east-northeast of the town of Matagami, or approximately 110 km northeast from the Douay camp. Historical work has shown that the volcanic units hosting the high-grade zinc-copper deposits of the Matagami mining camp are present at Morris and recent work by the Company showed evidence of strong hydrothermal alteration and associated conductors typically encountered around VMS deposits."
During the three and six-months ended June 30, 2023 and 2022, the Company incurred $884,852 and $2,439,656 (2022 - $1,263,378 and $2,890,432), respectively, in exploration and evaluation expenses as detailed in the table below.
The Company’s contributions to JV expenditure during the three and six-months ended June 30, 2023, was $Nil and $0.5 million (2022 - $2.4 million and $3.25 million), respectively.
As at June 30, 2023, the Company had cash and cash equivalents of $6,159,785 (December 31, 2022 - $9,758,175) and working capital of $5,159,621 (December 31, 2022 - $9,179,411).