Rumors from Wall Street and Bay Street on ITHNow that some of the largest gold funds in the world will soon have exposure to the company the stock is "in play". ITH could raise several hundred million dollars but is limited to only 25% dilution, any more that that would require shareholder approval. There is always the open market and that's the only place where additional shares can be purchased after the financing closes.
Feb 25 2009 Osisko closed 403 million financing the stock was at 4.30. The stock traded as high as 15.13 since then. Look for the same type of action on ITH in the near future. Furthermore the Cardero group will have raised more that 200 million dollars this year, and I anticipate double that next year. Let there be no mistake with a dozen of the super stars that have joined up from Anglo American and Anglo Gold with mine builders and PhD’s on their resumes that the future acquisition of more projects will continue. There are at least 10 companies in the Cardero group now worth watching. More on that later!
Takeovers like ID Biomedical, Corrinte, West Timmons, and present winners like Mag Silver the future of the Cardero group is already written in stone to the trained eye. It must also be noted that Cal Everett of the famous Axemen Resource Capitol Group have an office not 20 steps from the head honcho of the Cardero group. The Axemen Group has raised well over a billion dollars in the last few years. In summary there is no shortage of money or projects in front of this group and many of the top people in the industry are lining up to get involved.
Of the top 30 Gold Mining funds the majority of these are fighting to get a position in this powerhouse. It is that simple. As I said before the naysayers will simply disappear through their own embarrassment. I have also stated that the collective market cap of the Cardero group of companies will easily pass the billion-dollar mark. I'm now setting my sights on plus two billion dollars between 2011 and 2012, with at least 3 more takeovers to add to the list.
Congratulations to all longs we’ve hot the big time.