Post by
cigarbutts on Feb 04, 2019 2:59pm
Tough Economics to Earn a RESPECTABLE ROE
Yeah that IS a big roll of paper to be FLOATED on the market between now and Sept. 2019 Option Expiry.
Also, I looked at the Income Statement. Almost $3M in G&A for the September 2018 Q.
That is a Pretty HIGH BURN RATE IMO. $12M annualized on a $135M Market Cap.
Your almost at a double digit hurdle rate on return on your investment BEFORE you even recover the cost of SG&A here!!!!
My buddy thinks that maybe Financing the DRILL BIT with money from Sprott could be the kiss of death for these guys, and the beginning of the long downward Death spiral.
Think I'll look again IF it gets cheaper!!
Comment by
kkkrrr on Feb 28, 2019 5:12pm
nonsense..after the bankable FS this company will bought by a major..no question ... nothing to fear here ... 0.7-0.8 AU$ takeofer will come this or next year...