Do you have any idea how much cash they had after the recap? I'll give you a hint...it was in the 10K. Do you know how much their annual payments are for claims, the NCJV, etc...?? I'll give you a hint....it is in the 10K. Of course, you have to take the time to add it all up. Do you know how much G&A will be for 2017? Again, it was in the 10K and in the PR. If you add up all the known bills, not including any costs for exploration drilling, you will find that they do not have enough funds. That is why they go into very great detail to tell the public about a $2mil loan, an ATM facility that had approx $4M available. So....no, they are not fully funded.
Next, they just filed a new prospectus with a 2nd ATM facility allowing for $3.25M to be raised.
BTW - ATM means "at the market". This is a MUCH MUCH MUCH better deal than a public offering, but it is still dilution. They have had the first one in place since early summer last year and have utilized only a small portion. Which is good news. It means that they have been very careful with the cash they have.
It is just foolish to say that they are funded when they have clearly put forth, not once, but twice, the intention to raise funds via these various facilities which will increase the share count and thus dilute existing shareholders. Let's not forget the drilling deal with American Mining. Oh, and interest payments on the debenture (which you should not be all that happy about, btw) and then there would be the repayment on the $2m loan if it was exercised.
You don't take out loans and file registration statements if you have enough cash to make it through the next 2-3 years. It's not rocket science.
As for me being on the sidelines....you clearly don't know me.
