As at December 31, 2015, the Company had approximately $17.9 million of cash and cash equivalents and, for the year ended December 31, 2015,Ugg Ugg mini bailey button bling damen kurzschaft schlupfstiefel the Company generated positive cash flow from operating activities. While the Company considers that it has sufficient capital to support its current operating requirements based on its current capital resources and expected cash flows from ongoing operations, there is a risk that commodity prices decline or other factors may cause the Company to be unable to continue generating sufficient cash flows to sustain operations or to be unable to fund planned capital projects, including expansions and potential acquisitions.
In addition, the Company may require additional capital if the costs of its capital projects are materially greater than the Company’s projections. There is no assurance that the Company will be able to obtain additional capital when required.Ugg Ugg mini bailey button bling damen kurzschaft schlupfstiefel Failure to obtain additional financing on a timely basis may cause the Company to postpone acquisitions, expansion, development and exploration plans, or even suspend operations.
These occurrences could result in environmental damage and liabilities,Ugg Ugg mini bailey button bling damen kurzschaft schlupfstiefel work stoppages and delayed production, increased production costs, damage to, or destruction of, mineral properties or production facilities, personal injury or death, asset write-downs, monetary losses and other liabilities. The nature of these risks is such that liabilities could exceed policy limits of the Company’s insurance coverage, in which case the Company could incur significant costs that could prevent profitable operations.