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Quarterly Activities Report: Galleon Gold Cash Balance increases 32.3%

Jul 03, 2020 - News Bites Canadian Markets


Corporate Wire Date: 02 July 2020 16:26 EDT

The Cash Burn of operating activities was CAD487,857 in the quarter ended February 29, 2020. This corresponds to an average Cash Burn Rate of CAD162,619 per month. To support this Cash Burn Rate, the cash balance of CAD2,118,081 as at February 29, 2020 should be adequate till March 26, 2021.

Quarter ended 29 Feb 2020 CAD Cash and cash equivalents at beginning of period 1.6 million Net cash from / (u...