posted on
Apr 20, 2012 06:04PM
At January 31, 2012, the Company had a working capital of $2,021,736 and a deficit of $14,567,593 and had incurred a net loss of $554,254 for the three months ended January 31, 2012. During the quarter ended January 31, 2012 the Company received $6,239,000 in proceeds on private placements and the exercise of options. While these funds may be sufficient to complete the current planned activities, the Company may need additional equity in order to develop the property. I dont see a strong inclination by Management that they are going to plan more drilling, although I see they mentioned it in your post Prospekt. I believe There is enough for feasibilty and buyout...I sure would love to seeore potential areas of resources proven because they are there.