Providence Gold Mines Inc V.PHD

Providence Gold Mines : Management Discussion & Analysis

[MrGoldinvest]

https://m.marketscreener.com/quote/stock/PROVIDENCE-GOLD-MINES-INC-49479143/news/Providence-Gold-Mines-Management-Discussion-Analysis-for-the-Period-Ending-September-30-2021-37085866/

[KozmoT]

OUCH !!! For an exploration company that is almost broke they sure do pay themselves a lot of money and yet somehow manage to do very little exploration. According to their Financial statements they... -   awarded themselves over $235,000 mainly as "Management Fees" Consulting Fees" and "Accounting fees" -  spent only about $233,000 on actual exploration

[KozmoD]

This post has been removed in accordance with Community Policy

[KozmoD]

This post has been removed in accordance with Community Policy

[givemeabreak1]

Lots of ouches on this one! Other big ouches is they are spending money to earn 50% of the property.  If they spend all this money and prove up everything they get to buy the property for another 5 million in cash.  Heck they could of owned the property for less in the first place.... That said, the biggest ouch on this one is what I have always said it is the following part of the

[KozmoD]

This post has been removed in accordance with Community Policy

[2021Gamble]

Thanks for this link MrGoldinvest - much appreciated (and you have a DM waiting)

[KozmoT]

Why are you thanking him - he posted damning evidence of the mess the company is in. Not to point out the obvious but wouldn't anybody invested in PHD want to NOT have a link to the company's disastrous financials posted here for others to see?