Hi @Nate_5000, This figure is always going to look bad for a...

Hi @Nate_5000,

This figure is always going to look bad for a near term miner looking to start mining soon. If you want strong retained earnings then you need to go blue chip stocks. The accumulated losses just means that since inception PGO has invested $20M in its entire business. The main thing to look for if you have an appetite for the small cap high risk miners is cash on hand. They have to report that quarterly before they start production. PGO had $1.3M on hand as at 31 Dec 2016 and the drill for equity deal means that the major cost of drilling out the JORC has been offset by issuing shares. A subsequent CR bought in $8.5M so a good amount to get them through for a while. By following the quarterly cash on hand figures you can work out the cash burn rate and see when and if the company needs a CR and judge your share trading accordingly.

cheers

ece