Resource Capital Gold Corp GDPEF

low value above 5c

[LeftBook]

Damian, I recall that you and your group wanted to do a $2M private placement at 5c. Are those the correct amounts ? what was the time frame  ?

I suspect that $2M was interesting but the per share price was too low. It probably had to be closer to Sprott's 9c private placement. Your price needed to be a better estimate of value.

And why didn't you buy in the public market when people were dumping shares ?
The last $2M of trades went for an average of 4.1c. Range 1c to 13c.

[damianchosenone]

I'm not going to get into this! It is infuriating! They did a private placement in March for 5 million and only had 2+ million subscribed for. Why didn't they take the other 2million months later when they were desparate?

[LeftBook]

I am suggesting that the per share price you guys wanted was too low. I recall you were at 5c. Sprott was at 9c Perhaps they thought they could do better by running the ship into the ground and taking bids than to die a death of thousand cuts by diluting at $2M blocks at 5c. Also other private placements, debt for shares  were higher. 9c to 20c with a 14c average "common shares"

[damianchosenone]

Why woudl anyone finance at 9 cents back then, when the share price was below 5 cents when they offered to do so? RCG had nothing going for it and closed down the propert. With 2 extra million they could have got the gold out fo the tailings and then some out of the stopes and been able to operate longer.  This bankruptcy, in my opinion was pre meditated.! How does Gibson quit in November

[LeftBook]

Two different markets. RCG need cash, and lots of it, to mine. It needed knowledgable long term investors willing to invest Traders and speculators traded on what they thought of the price and value of company. They picked up shares of ex-shareholders. Two markets diverged. The long term investors had invested at an average of 14c. The public market side just kept on falling. 80M shares,