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31, 2011, the company had spent $74.2-million of qualifying expenditures toward the feasibility study. The company will require additional capital to complete this study and to provide for the administration of its Vancouver and Calgary offices. The company believes that it will be able to raise the capital required through the continued exercise of its outstanding options and warrants or through the public market. Although management has been successful in raising capital in the past, there is no assurance that these initiatives will be successful in the future. Circumstances that could affect liquidity include early positive or negative results from the feasibility study, the general state of the equity markets for junior exploration companies and the overall state of the economy.
We seek Safe Harbor.