That is precisely the point,neither I are any other investors can judge from the company's disclosures and projections whether they have sufficient funds to meet their projections.All I know is that they had $5,000 or so in the bank, and apparently some arrangements ( which you well pointed out)that may have been available for some funding via convertible notes.
Based on their lack of an 8k re March 6 events, and releasing a report stating they met NI43-101 criteria when they did not, I do have doubts as to the credibility of their forecasts.Again if I understand their 10k, they forecast all other requirements necessary without the mill rehabilitation costs, and all these exceed the amout they had available from their convertible note arrangements- so the company itself stated it did not have funds or funding arrangements available to meet their projections.Since they have announced no new funding, I can only assume logically they are in the same position today.
You are correct I dont know costs to rehabilitate the mill and meet permit conditions, nor their other cash requirements. I can only make my own best estimate, which as of now tells me they will not be in operation as of September on a profitable basis.Just my opinion of course based on limited information. Who is responsible for creating such doubts ? It is the company which is supposed to disclosure material events.
How could they need less money this year than last year if they are re-opening a mill and putting it into operation ?
Guess 10q will answer some of these questions.Since they havent announced what happened March 6, I bet they will have to jump through hoops to try to determine what disclosure to make on their 10q.
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