I don't expect anything to happen for a while but this company does have some money (maybe $2 to $3 Million). I base this on the Nov. 30, 1998 financial statments which I got off of Sedar. Attached is the balance sheet:
Donner Minerals Ltd.
Consolidated Balance Sheet
November 30, 1998
1998 1997
ASSETS
Current
Cash $ 1,046,012 $ 299,240
Short term investments 3,721,943 5,280,232
Accounts receivable 891,602 181,056
Deposits 250,273 135,736
5,909,830 5,896,264
Funds in trust - 2,295,504
Investments 796,342 427,175
Due from Denstone Resources Ltd. - 3,400,000
Resource properties 14,186,913 8,498,887
Capital Assets 87,524 46,681
$ 20,980,609 $ 20,564,511
LIABILITIES
Current
Accounts payable and accrued liabilities $ 2,076,541 $ 2,299,357
SHAREHOLDERS' EQUITY
Capital Stock
Issued 28,923,260 20,826,566
Shares to be issued - 2,140,117
Contributed Surplus 46,900 46,900
Deficit (10,066,092) (4,748,429)
18,904,068 18,265,154
$ 20,980,609 $ 20,564,511
Approved by the Directors
“DAVID PATTERSON” Director
“HARVEY KEATS” Director
Sorry about the format but looks to me like they can start drilling but clearly has to be some focus which has been sadly lacking. By the way, I am not investing any more. I have a few thousand shares of DML and thats the way it will stay.
Regards TommyD |
