Post by
marpip3 on Mar 16, 2015 8:56am
The $2 million raised by NES will only last a few months
NES cash burn rate is over $800k a month. That in itself won't stop the deal. The majority shareholders already approved the deal including the Lundins.
Comment by
pdcon1 on Mar 16, 2015 9:04am
i would like to see where a non producer spends 800 k per month . unless its going towards previous debt and they are probably done with drilling . thats almost 10 million on office expences per year
Comment by
terryow on Mar 16, 2015 11:16am
Actually they were spending up to $1.5 million a month at one point and blew through over $30 million dollars in only a few years.