burn rate
posted on
Mar 01, 2011 10:55AM
not sure what the burn rate is for the drilling going on at borden lake but 3 million isnt a huge amount to be working with. in the past david palmer has been reluctant to issue new shares to fund exploration and that is part of the reason we are in such good shape right now. in the coming months something has to give because we are burning through our cash. so either new shares get issued or he knows of a revenue stream about to come on line for us. either goldex or the sale of the chromite. something has to happen soon.