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News Focus
Freegold Intersects 2.72 g/t Au over 139.9 metres at Golden Summit (click to learn more)
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Bullboard - Stock Discussion Forum Engold Mines Ltd V.EGM

Alternate Symbol(s):  GWRRF

Metals & Mining Industrial Metals & Minerals
EnGold Mines Ltd. is a copper, gold, silver, and magnetite exploration company. The Company is focused on its 100% owned Lac La Hache property in the Cariboo region of British Columbia (BC), which hosts the Spout Copper Deposit, the Aurizon Gold Deposit, and the G1 Copper Deposit and other targets within a large porphyry mineralizing system. The 25,750 hectares (94.4 square miles) Lac La Hache... see more

TSXV:EGM - Post Discussion

Engold Mines Ltd > Proceeds to be used for exploration ?!?!?! LOL
View:
Post by KozmoT on Aug 01, 2024 7:30pm

Proceeds to be used for exploration ?!?!?! LOL

Lets do some math ...

The PP was for a whopping $320K 
As per last Financial Statements (period ending March 31) they had Accounts Payable of ... $379K

Assuming they had virtually NO expenses in the ensuing 4 months (which of course they did) then the funds they have available from the PP to fund exploration works out to ...  (-) $50 K

Can someone explain how they are going to explore with Negative $50K?
Comment by jambon379 on Aug 05, 2024 12:53pm
This post has been removed in accordance with Community Policy
Comment by jambon379 on Aug 07, 2024 11:17am
They aren't
Comment by KozmoT on Aug 08, 2024 12:55pm
Well then they flat out lied in the news release.
Comment by jambon379 on Aug 11, 2024 11:05pm
Maybe they don't pay there bills.  I'll bet that Brett gets his $10,000 per month though
Engold Mines Ltd