CUU never had any "income". Most junior companies don't have any "income".
Tax refund, private placements, etc. it is incoming money for operations.
Why did you invest in CUU in the first place if you're so worried about money?
For SC, negative copper, salazar, the seemingly shortly approaching conclusion after the BFS, etc. Definately not for VD or Eaglehead. We could have never forseen what has actually happened so far. Did you invest for VD and Carmax? What were your carrots?
We talked about dilution many times already, I really wish you're not becoming another Canadagrant and repeat the same opinion over and over again (CG's statement of we spent $90 million and got $20 million back).
The tax refund cashed us up and put us in a great position to ride this out. All my concerns with cash were removed. As long as we keep Carmax spending in check I'm happy. Do you think we clearly know what the 2015 Eaglehead work plan will consist of (and cost)?
Aside from that, we have $4 million in the bank right now, have you tried figuring out how much this money will last for us? IMO, I feel it's enough for us to wait till we monetize SC or VD. What is your opinion?
It is hard to figure out how long it will last as we don't know what Carmax will cost this year. Without that info how can any realistic projection be made? How long did our last 4 million last? That may be an indicator.
We do know about 1 million a year for SB and salaries, office expenses, etc. $750k for the VD PEA. So approx 1.75 million spent till next spring - excluding Carmax expenses. Not much can be done that will make a real difference for 2.25 million can it? I suppose the core re-logging and sorting out the mess there with core handling could clarify the picture at least, and be of some benefit.
So with no further source of income aside from raising funds through PPs or?? Would that 2.25 million be better used for the ability to take us to 3 years down the road instead? Could that put us in a stronger bargaining position with Teck as it would be clear we have the funds needed for a few more years? Maybe, maybe not.
Not my decision, but I am allowed an opinion?
Shortly after our cash position was solved - our SP climbed significantly. Can you discount that cash (or lack of it) may have been a bigger drag in our SP than we may have thought?
You asked my opinion, and there it is. An unpopular one, but it is what is on my mind. I really believe SC holds 95%+ or our value. I fully realize I could be completely wrong about everything as expert.m not an
