Sculpin good points!
Since Oct 18, 2012 when the Company received notice of the Dissident Nominees, we have seen I believe 16 News Releases. All of these, IMO, drove shareholders further apart from Management, not one bit closer. Very Unfortunate!
The very large proposed PP, the AGM cancellation & resheduling, the Goergson group phoning us, the ISS NR, Another AGM cancellation, exploration NR on work that should have been complete by now, etc, etc.
Now, back to the NR you posted about, the drilling of 3000 - 5000 Meters, and requiring more capital. I just went back through some financials, and this is what is listed for "Cash & Cash Equivalents":
- Aug 31, 2011 = $5.41 Million
- Nov 30, 2011 = $8.97 Million (that was the $1.80 PP)
- Feb 29, 2012 = $5.37 Million
- May 31, 2012 = $3.56 Million
- Aug 31, 2012 = $2.18 Million
- Nov 30, 2012 = Not out yet, but you do the Math, especially with all the legal costs as of late?
Lots & lots of cash burn, and, we have only completed approx 60% of the planned 20,000 Meters drilling?
Where did Our money go?
Time for a change (Green), IMO
