Euro Sun Mining Inc T.ESM

Cash Burn = More dilution

[Bentouttashape]

They are burning cash at the rate of 800k - 1mil a month. At this rate there is not enough cash to get through the next quarter. Another dilution coming before Sept. me thinks

[digrdan]

Of course - this is the whole game plan - just keep kicking the can down the street with a bunch of meaningless approvals and the management makes way way way more than the should in comparison to others with this market cap - and all of this and no insider purchases 

[Bentouttashape]

That,s why we need to remove this group now. Each dilution makes it a lot harder. Last year 35% voted to remove Moore. Just needs a few more shareholders this year to get it done.

[digrdan]

This news was strategic I think - unfortunately management will make it through - if so, it's crystal clear what is going on here. 

[Bentouttashape]

Management may make through alright, but in market circles a vote in 90% range is cause for reflection and concern for a company. When it is in the 65% range for Moore as it was last year, this indicates a major dissatisfaction in the leadership of the company. If I read this board correctly, there is significant dissatisfaction again this year. I think the company needs to take note and begin to