virtually no money

ASX Release today shows only $60k in the bank from the 31st Oct. Other costs would have consumed much of this in the past 6 weeks. Although the Perth office is closed there is still a sign out front trying to lease it - are they still paying for office space until they can find someone to lease?

Coming up to Christmas isn't a good time to raise money as people like to get through the Christmas period and new year before they start to spend.

The financial pain experienced by KalNorth is really a sign of the times to come for similar cash stricken juniors. Hopefully they get enough shareholders to support the capital raising, although not too sure that any money will be sufficient to continue into any lengthy period.