Fact is they are spending more than they are making. Nothing has changed there for the last few years. Further to this, more $ need to be spent to reduce costs/increase scale and get new projects (albeit, re-hashed marginal operations) cash flow positive.
To be honest, the best "asset" Westgold has is its large tenement holdings. Maybe they should be spending a bit more on exploration - isn't cookie a geo with a history in the Murchison? That's the lottery ticket...but the clock is ticking, probably have another quarter or two left before they are out of cash or have to raise more.
Ann: Quarterly Activities Report, page-19
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