Maple Gold Mines Ltd V.MGM

Denial is not a river in Egypt

[Angelique01]

Most investors are still in shock. I sold my remaining shares this past week  and wouldn't touch this stock again with a ten foot pole.
Technical damage done to stock price will be difficult to fix. 
Tax loss selling later this year will keep price down.
Company has a history of over promising and under delivering.
Departure of two key individuals says volumes.
Difficult to simply say solution is new geologist.  Certainly AEM technical expertise was involved in drilling programs yet IMO the drill results the last 2 years failed to hit anything of significance.
Working capital at the end of March 2023 was $6.7M and the monthly burn rate appears to be around 900k per month. I highly doubt AEM warrants will be exercised.  Will simply expire.  You do the math as to what working capital balance will be by end of year.
We are almost 2/3 into this year's AEM funding with next year 2024 being the final year of funding from AEM with $5M being allocated for expenditure next year.  Then what?

[Yonexx]

This post has been removed in accordance with Community Policy

[E30S14]

Hornor's outrageous and unjustifiable salary will continue to eat up that remaining cash balance. Still waiting for that Christmas present from a number of years back..start putting your money where your mouth is.

[Angelique01]

This post has been removed in accordance with Community Policy

[Yonexx]

Cash was 8,000,000 CAD at the end of March. With no drilling, the burn rate is more like 300,000 CAD per month. So cash currently 6,000,000 CAD plus minus.   Agnico still has to spend 9.5 million CAD this year and next.    So I think we can roughly say we are funded for at least 1 drilling campaign for each of the 3 projects, well into 2024. Especially now their have most

[Angelique01]

Please provide some backup for your $300,000 per month burn rate guestimate given that they currently spend $500,000 per month on non exploration costs.  As for AEM funding the $9.5M was valid at the begining of this year but we are now in August.  Surely AEM has incurred expenditures in the first 8 months of the year that reduces that commitment.  How can AEM's remaining

[Yonexx]

Exploration stopped mid April. And from the 1.500.000 general 550.000 is share based compensation. So thats how I got to +/- 900.000 for a 3 month period. Getting back at you about Agnico.

[Yonexx]

You are correct, 9.5 mil end of jan.    Financial Statements Q1 this year under exploration and evaluation expenses you can see that 900.000 CAD has been spend in Q1 on Douay + Joutel. So lets say 600.000 since 31th of Jan. Some weeks in April, another 100.000. Spend 700.000, so there is 8.800.000 CAD left.    For Eagle, working capital wise (you where correct in your

[Angelique01]

I'm out but best of luck to you!!!