Tudor Gold Corp V.TUD

Financials

[Larry60]

Gottta luv the Friday night NR!

Good News:  Cash still around $7 million, only burned through $24 million or so last year, less than previous year

Sources of Cash - about $3.3 million:  approx $1.6 million from tax credit receceivable nother $1.8 million from the exercise of options that were expiring (I think around 30 cents/share)

Exploration and Development:  Around $500,000 +, next to nothing

ATM:  while they do not need to explicitly refer to it, comparing Year end with Q3 shows NO shares were issued (at least nothing more that a few hundred thougsand which migh not be discernable).

So where are we?  After YE (March 31) exploration starts.  WIth $7 million in the bank and now other liquid assets that will bring in cash.  We are well into explortion season so ther $7 million is likely close to all gone.  Nd we are only in July

Opinion?  TUD needs to raise $$$$$

all imho

[karlschranz]

At some point, even you will be right. You have been writing since the beginning of May that Tudor has no more money.

[Larry60]

Kawwwlllll, Its not a matter of being right.  We've known since begining of March that TUD had approx $7M as of Dec 31. We know that in the past few years TUD has spent $22M o $25M a year on exploration and develpment and that overhead runs around $5M a year.  We also know most exploration money is spent  SPring and SUmmer. SO no surprise that they did not burn a lot of cash

[karlschranz]

But even you should know that 2 rigs cost less than 6

[Larry60]

While tud may only have 2 rigs now, possibly due to lack of $$$$, they also have a large insfrastructure cost setting up camp on the glacier................it aint cheap........which is how TUD has spent over $25 million in one or more prior years!!!! 2 rigs onsite plus settin camp is probably gonna suck up most of the cash.  There is still ongoing overhead.  And Id hope TUD is spending

[remucker]

between fuel costs and drills and camp and geology crews . choppers and flights and core processing i would say they have pretty much chewed up a very good chunk of the 7 mill . more than likely a large financing news realease coming soon . maybe after some drill result news release 

[cskhurasu]

Consider this on the financials Larry60: No drilling in the quarter ending March 31 but cash dropped nearly a million in the quarter despite $1.6 million in option exercises. So the overhead burn is sucking up the cash. Just $500,000 in exploration expense which is likely all salaries. Maybe some Met work? You are right about the risk of running this close to the line. But if the results are

[Larry60]

csk you make sense. TUD got lucky in that the $3.3 million came in during the quarter frrom option exercises (30 cents) and tax credit refund.  No such lifesavers will be forthcoming in the next 8 months left in fiscal year.  Only way to raise money is by issuing shares. Maybe Natalie left cuz she had enough of gettin a significant aomount of comp in the form of options..........that