Why is this stock at an all time low?Besides a couple thousand dollars worth of shares on the bid at .04, the bid is really at .035.
You all might not care. But I do.
That $8 million they raised... well they had to have almost a million forwarded to them in August to pay for insurance etc.
they have a few hundred thousand dollars of that $5 or $6 million they have left planned for drilling lol 3000 meters. That's about $20 million raised in the last year and a bit, and they have a few hundred thousand to spend on exploration.
The mill they acquired... with all it's potential. Has only been a money drain so far.. That $175 000 or so they received last quarter for recovered gold. How much did that cost them?
They have enough cash to survive until the spring. With the quarterly burn rate.
These guys have done nothing since I invested about 18 months ago. And the price is lower.
I don't care aboiut all these posts saying how rosy everything is.
Wait till spring.. when they run out of money and have a whole bunch of money owed coming due in the summer.
I've been holding it... but so far the only... I mean the only people getting rich off this stock is management and traders.
Call me an annoyed investor.
Unless they do something in the near term... Maritime will go bankrupt, then Dundee will take over and make deals with Firefly or NFG.
It's 18 months I been watching this play out. And it was going on for years before this.
They do nothing to increase shareholder value.