Post by
GoldInsect777 on Mar 30, 2023 1:41pm
Cash on hand vs. expenditures
From their period ending Dec 2022 financial statement, they spent $620,000 in exploration and evaluation costs at Big Balds and Sandman properties and also booked a $700,000 loss in expenses. Their cash on hand as of Dec 31st was 1.35 Million. At the rate they went through their cash in 2022, they could be less than 6 months away from running dry. I smell dilution on the near horizon.
Also, their stake in Raiden from their sale of their Bulgarian properties seems to be all but worthless after the last month.
Comment by
yortmic on Mar 31, 2023 12:42pm
No Dilution, as mentiontened by the company next big chunck of funds will be to start the mining process . Momey will be a bank loan at that point . Company has adressed this many times on podcast as well as interviews . Paybck will be 1 year on 33000 expected ounces