Be reaistic mate.
A capital raise has to happen.
Quarter ends 31st Dec.
There will only be $1.1 million in cash left at end of this quarter.
Administraion and corporate costs for this quarter are $352000 to run the co.
The administration costs could be higher next quarter with extra heads to feed.
By the time drilling starts (the drilling time lines have been changed 3 times to date),
drilling is completed and assay results are recieved the next quarter will most likely be over.
There may also be a delay on exploration permits.
No co lets their cash run dry. The co wont be able to run.
Normally, $1million is cut off and CR is executed.
As far as the new guys loosing money, its just tough luck. Its a risk when dealing with a co with a poor performance for the past 10 years.
GPP Price at posting:
0.4¢ Sentiment: Sell Disclosure: Not Held