with the current exploration cost this quarter at 1.5mil and...

with the current exploration cost this quarter at 1.5mil and 400k administration we would be left with around 15.5mil so yes they are trading at cash backing.... granted they are burning cash fast especially on administration fees but one would have to assume they find something of meaningful value without having to buy something else and when that time comes to will be much higher. i don't hold but am waiting to enter around .015 -.02 cent range if I'm lucky.