and currently it keeps moving down. The question is how far it would go.CMIN is an exploration-stage company focused on developing gold projects in Nevada and Peru. It has built a quite impressive website, though, the last news on it dates back to July this year. Since that time, the company has not released any announcements on its business, apart from the promotional newsletters published by some other websites. However, it appears that despite the promotions CMIN price remains low, while its volume keeps its high values.
By the end of this June the company has registered much higher operating loss and expenses, and its accumulated defict totaled over $22 million. CMIN cash flows have increased, though the company should cover a higher net loss.[BANNER]
The management of the corporation believes that they have sufficient cash to continue operating by the end of this year. However, the team claims that: “if the Company is unable to raise additional capital in the near future, due to the Company’s liquidity problems, management expects that the Company will need to curtail operations, liquidate assets, seek additional capital on less favorable terms and/or pursue other remedial measures”.
Based on these conclusions and on the unstable position of the stock, the future of Constitution Mining Corp. remains quite dull.
