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Bullboard - Stock Discussion Forum Multi-Metal Development Ltd V.MLY

Alternate Symbol(s):  MLYCF

Multi-Metal Development Ltd is a Canadian mineral exploration and development company with mineral rights interests in the United States of America and Austria. The Company operates in two geographical areas, being Canada and the United States. The Company’s flagship project is the CuMo molybdenum project (the CuMo Project), located in Idaho, in the United States. The CuMo Project has two... see more

TSXV:MLY - Post Discussion

Multi-Metal Development Ltd > read the financials from march 2021
View:
Post by babymines on Jul 09, 2021 1:22pm

read the financials from march 2021

Cash used in operations was $1,353,679 for the nine months ended March 31, 2021 (2020 used $1,070,518) and represents expenditures primarily on mineral property exploration and general and administrative expenses. 90% used to pay Dykes managment and consulting fees

Look at the increases in consulting fees that go to Dykes and family. 2020 to 2021
Look at the defaults in land purchases 3.2 million wasted

Is this sound management of investor money.
Comment by Journalist1 on Jul 09, 2021 1:46pm
This may be right or wrong. I dont know. But the simple fact of the matter is that advanced assets like Cumo's are really scarce in the market. That is a fact and you can ask any NorthAmerican investment banker about the lack off assets in the market due to the decade long  zero interest fed policy. CuMo is, for a change not in a shithole jurisdicition but in mining friendly Idado, and ...more  
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