financials are outi just glanced but it looks like they have just less than 7 million left working capital as of Sept 30. So I'm guessing that with all the drilling that has been happening, they are down to about 5 million working capital.
The net loss for last quarter was 5.5 million.
Thankfully they got the 3 million from the sale of pointe rousse.
So they have about 5 million working capital. But they have to maintain a mininum of 2 million in cash to meet the requirements of the nebari credit facility. because interest rates went up, that is costing 5 million a year in interest alone on that financing.
The corporate administration costs are up about 10% year over year.
So they have about 3 months worth of money left is what I figure. That is why the share price is tanking. Because... what are they going to do.... raise money at .10 cents?
I hope that they have a great drill results from the current program if they can finish it.
They have about $5 million, but can only spend 3 million of it.
Good thing that they got that Nebari financing for $15 million this year. And raised $7 million in private placements, and 3 million from the sale of pointe rousse. $25 million since the beginning of the year.
$3 million to spend doesn't last long.
I feel sorry for shareholders of mae when the Signal shares become freetrading. Because unless they get a major hit, they are going to have to sell that million dollars in shares.