How can cash on hand be irrelevant to a company gearing up to go into producton in 6 1/2 months ? Sorry I am missing the logic here.
I agree let's look at their financials : yes signficiant portant of expenses are non cash and company apparently has shown creativity in meeting these epxenses.
Last 10q shows actual cash required for operations at $46,802. I think we can agree as company proceeds towards operating a mill etc these expenses wont decline ! Second, another $43,805 spent on asset acquisition.
They financed this by proceeds from a convertible note,$105,000,just like the year before.
It is January 25, financials were as of November 30, no new convertible has been announced. Therefore it does not seem an illogical question to ask how they have financed the company during this period. The bigger question IMO is whether this trend indicates they are on track to a re-start of production.
CFO may be working on some big financing potential thinking as many seem to think moment they get conditions removed off permit financing will be available,and in meantime delaying cash flow impact of expenses.
I admit this is possible, just seems so unlikely they can finance this company quarterly with beginning cash on hand as prior quarters do not indicate this. Second concern is why hasnt CFO brought in another convertible yet to keep things moving forward.
