Post by
GorgeLop on Apr 10, 2015 11:21am
Botswana acquisition + diltuion
Just for clarification: Peregrine basically acquired DES Botswana for a 1% royalty and dismissing the $450K owed to Peregrine. So they get in return 8 properties, and the technically skilled people working there. Also warrants diluted shares from 226m to 282m (adding 56m). Correct?
Comment by
mrrbc on Apr 10, 2015 11:48am
GorgeLop you've got it just about right. Here are the specifics of the Bots deal on Peregrine's website... https://www.pdiam.com/s/PressReleases.asp?ReportID=701751 Also check ekim's blog for a treasure trove of good PGD/Chidliak info... www.chidliak.blogspot.ca
Comment by
GorgeLop on Apr 10, 2015 12:18pm
Of the 71m warrants, 56m were issued. Why did not issue all warrants? Lack of interest from the markets?
Comment by
mill44 on Apr 10, 2015 12:34pm
The warrants were issued. They were not exercised.
Comment by
mill44 on Apr 10, 2015 9:38am
Might have read a few reasons here. Some did not want to risk more, others had no money left, maybe others just did not want to add to the dilution and chose tobuy on the open market.
Comment by
mill44 on Apr 10, 2015 12:39pm
Might have read a few reasons here. Some did not want to risk more, others had no money left, maybe others just did not want to add to the dilution and chose tobuy on the open market.
Comment by
mill44 on Apr 10, 2015 12:55pm
If you do the math, you might be right. Maybe the interest wasn't the greatest since around half of the outstanding warrants were exercised, if you discount the big 3. But again, you had a chance to buy as much as you wanted under 20c in the 4 months before expiry. That could have curbed the enthusiasm.
Comment by
Kidlapik on Apr 10, 2015 1:13pm
Mill you must be hoping to trade the range again huh? Whats your bid in at? 27? 28?
Comment by
mill44 on Apr 10, 2015 1:59pm
This frigging market is an option seller's dream. I have to unlock some value tied up in this for way too long. There are better ways to make money, not to mention easier. At least I won't have to worry about the Friedlands coming up with other nice ideas before the results come in.