- Joined
- 19 October 2005
- Posts
- 6,261
- Reactions
- 9,617
@Telamelo so a wait until Thursday. Initially a cynical reaction from me, but while it won't be done for the benefit of retail shareholders, the outcome for us might be ok. Better to raise after a positive price move, however manufactured, than risk the gold market running out of steam for a while.
Just as a scenario, maybe they generate 50m new shares to bring in around $20m?
The current number of shares quoted is about 217m + 7.5m options about to exercise @ 0.20 (bringing in $1.5m) There's a balance of approx 8m opts that are well out of the money plus 5m perf shares.
So we have effectively 225m fpo shares quoted plus there are the 5m perf shares
Add in the hypothetical 50m shares placed = 275m fpo shares for a company that might then have enough cash to start mining the pittable resource at Coyote and get the mill going. Or am I being too optimistic? Maybe they'll just raise enough to get a jorc reserve defined.
If the market likes the deal the price dip might be short lived as I noticed was the case recently with Arizona Cu/Au explorer EM2.
Held
Just as a scenario, maybe they generate 50m new shares to bring in around $20m?
The current number of shares quoted is about 217m + 7.5m options about to exercise @ 0.20 (bringing in $1.5m) There's a balance of approx 8m opts that are well out of the money plus 5m perf shares.
So we have effectively 225m fpo shares quoted plus there are the 5m perf shares
Add in the hypothetical 50m shares placed = 275m fpo shares for a company that might then have enough cash to start mining the pittable resource at Coyote and get the mill going. Or am I being too optimistic? Maybe they'll just raise enough to get a jorc reserve defined.
If the market likes the deal the price dip might be short lived as I noticed was the case recently with Arizona Cu/Au explorer EM2.
Held