cash $5.5m!11 Nov 2015 08:19
A year on year reduction of $0.7 million in net losses to $2.6 million for the nine months ended September 30, 2015, from $3.3 million for the nine months ended September 30, 2014, along with a year on year reduction of $0.7 million in net cash outflows.
As at September 30, 2015 the Company had cash and cash equivalents of $5.5 million and estimates to have sufficient working capital to fund its exploration and administration obligations for the next 12 months.
In September 2015, the Company announced the grant of a total of 15.7 million stock options (each an "Option") to directors, employees and consultants, with each Option entitled to purchase one common share of the Company (each a "Common Share") at an exercise price of CAD$0.02. Each Option vested with immediate effect and will expire on September 2, 2020.