Battlefield Resources Corp (BFM) was Indomin (IRL) Message Board

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Gold/Mining/Energy : Battlefield Resources Corp (BFM) was Indomin (IRL)

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To: russwinter who wrote (555)	1/1/2000 4:45:00 AM
From: baystock	Read Replies (2) of 584

I did look over the most recent financials which are for the 9 months ending Sept 30, 1999. This shows $964K of cash used in the 9 months, or $320K per quarter. It also shows that they have only $217K of cash left. This tells me that they will most probably have run out of cash by now, unless they have taken drastic action to reduce their burn rate. But I see no evidence of this. I didn't realize the Zimbabwe mine was mothballed...I don't believe there was any press release to that effect. Their website still says the following: <<Battlefield is developing a 720,000 tonnes per annum carbon-in-pulp treatment plant to produce almost 35,000 ounces of gold per annum from Phase I processing of open pit ore and tailings. Cash costs are forecast at less than US$170 per ounce and total costs at less than US$200 per ounce. Production is scheduled to commence in the fourth quarter of 1998 and reach full capacity during 1999.>>

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