RE:Is it Time for A Rights Offering?pigbruinmcveid wrote:
Money will be required. So, why not a rights offering? I see th Yellowhead Mining just issued 24.751 shares under a rights offering at 0.045 cents per share (about 25% participation).
Just might happen, eh... so all you happy longs who here would participate in a 7 cents rights offering? so please do share thoughs :)
Well, Boris, I'm thinking that the $1,113,795 that Yellowhead got from their rights offering wouldn't go very far for BGM and its grandiose plans (Snowden, in its March 31, 2015, NI 43-101 filing suggested exploration expenditures of $9.5 million in the year ending February 28, 2016, and that doesn't include any overheads).
It's looking like a no-go for gold production in fiscal 2015/2016 and a rights offering at seven cents, even at likely unattainable acceptance rate of 25 per cent, would only raise $3,9555,000 (226 million shares @ 25 per cent is 56.5 million @ seven cents is $3,955,000).
Nope, a rights offering likely wouldn't cut it. What else has BGM got to flog? The mill in Revelstoke? The mill in Quesnel? The millstone around the shareholders' necks. No, NO and
NO!!!! Unka Ernie!!! Unka Errneeeee!!! Where are you hiding???? It's that time again, Unka Errnneeee!!!! Pretty please, Unka???