Advanced Explorations Inc. ADEXF

Latest Financials on SEDAR

[HVAN1]

Working capital of $3.2 million as of September 30th (including latest debenture). 

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Tuktu 2 drill program cost $1.9 million. 1500 meters drilled, so that comes to $1266 per meter. Total cost per meter drilling in southern Canada is around $300 per meter. 

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628K wasted at Anik in 2012 mobilizing and paying salaries for exploration programs that were never executed (hyperspectral, VTEM surveys, Dr. Ronald Scott etc).

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Going forward: 275K due to Roche Bay plc in Q4. 107K for office rent in Q4. Working capital should keep the lights on and the salaries paid until the end of Q1 2013. Exploration programs of any kind in 2013 will require further equity issues or XinXing debentures.

[Shlinker_]

HVAN, hate to say it, but your right. Things just dont look good at all folks. Ginger pulled a fast one imho. He and the team didnt know what they were exactly getting into here. Another equity raise in spring of 2013 to try and get XDIP on-board (again)....thats terrible.