OTCQX:BALMF - Post by User
Post by
goldhunter11on Dec 17, 2019 8:17am
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Post# 30462575
$4.5M Quebec FT
$4.5M Quebec FTPeople have been saying that BAR does not have enough cash to mount any respectable drill program. They had about $6M before this FT which brings their cash hoard to ~$10M which is a nice sum to be able to do some decent drilling in 2 years or so. Or, they can do an intensive one in one year, just to groom the company for a take-over by a larger entity.
It's good for BAR was able to arrange a FT with a premium roughly 50% above the current SP (0.335/s). The investors will get back their cost from the tax refunds, but the company will pocket this premium. Nice. Not too much details were given with respect to the investors. Was Uncle Eric in there with a large chunk?
If it were a regular PP, the offer price would be below the current SP and with perhaps some wts attached, then the SP would be expected to drop to below the current SP, due to the dilution of apprx 5%. However, in this FT case, it would be a surprise to see the SP surging above the current SP to may be just below $0.51?
We shall see in about 1 hour.
GH11
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