RE:RE:A POORLY CONSTRUCTED RIGHTS ISSUEThanks for your constructive comments.
To clarify, I have no influence over any of the insiders. I and family have relative large holdings and in the case of the last rights issue, we did exercise most of our rights. Stupid us!
As to the current issue, I am not sure that I will exercise unless we get some indication that the amount raised will get us comfortably through the reopening of Mount Polley. Had I had any say, I would have insisted that the amount raised would be perhaps double the amount currently being contemplated. That would take a bit of the risk out of the deal. And certainly, the engagement of an investment banker who could get this company on the radar screen of more investors.
Your comment about frightening smaller investors is interesting. Perhaps that is their strategy but a strong share price is is a wonderful asset when raising money. Discouraging smaller investors generally produces poorer liquidity and lower share prices.
I simply do not understand their strategy.