Stick a fork in this SCAM, because it's going nowhere!!
Cassiar Gold Corp.
Management's Discussion and Analysis
For the three-month periods ended December 31, 2022 and 2021
GOING CONCERN The Corporation incurred a net loss of $567,606 for the three-month ended December 31, 2022 (2021 - $359,286), had negative cash flows relating to operating activities of $2,819,447 (2021 - $726,240), and had a working capital of $4,304,801 (September 30, 2022 - $6,529,507). As such, there is a material uncertainty related to these events and conditions that may cast significant doubt on the ability to continue as a going concern and therefore, it may be unable to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Corporation as a going concern is dependent on the ability of the Corporation to achieve positive cash flow from operations and/or obtain necessary equity or other financing to continue exploration on its exploration and evaluation assets. The Financial Statements do not reflect any adjustments to the carrying values of assets and liabilities, reported expenses, and balance sheet classifications that would be necessary should the Corporation be unable to continue as a going concern, and these adjustments could be material. The Corporation intends to raise the required funds through the
issuance of equity, by securing strategic partners or assuming debt. The application of the going concern concept is dependent upon the Corporation's ability to generate future profitable operations and receive continued financial support from investors. Management is actively engaged in the review and due diligence of new projects, is seeking to raise the necessary capital to meet its funding requirements and has undertaken available cost cutting measures. There can be no assurance that management's plan will be successful. If the going concern assumptions were not appropriate for the Corporation's financial statements for the three-month periods ended December 31, 2022 and 2021 then adjustments would be necessary to the carrying value of assets and liabilities, the reported expenses and the statement of financial position classifications used. Such adjustments could
be material. The business of mining and exploration involves a high degree of risk and there can be no assurance that current exploration programs will result in profitable mining operations. The Corporation has no source of revenue and has significant cash requirements to meet its administrative overhead and maintain its mineral interests. The recoverability of amounts shown for exploration and evaluation assets is dependent on several factors. These include the discovery of economically recoverable reserves, the ability of the Corporation to obtain the necessary financing to complete the development of these properties, and future profitable production or proceeds from disposition of exploration and
evaluation assets.
Bearish
