RE:RE:$4 lb CopperNewbie, you seemed to talk yourself out of your initial position.. When I got to the end, I agreed with you. By the way, Eagle is a piece of krap, will probably go bankrupt unless gold rallies hard. Trouble is, it was always a marginal project, low grade way up in the arctic. I know, I know, low strip oxide, but the gold:oil ratio recently compressed by a third to 16, which is quite bearish for these low grade high op-ex open cast mines which are basically an exercise in churning dollars, burning up tanker trucks full of diesel to move rock from A to B. Of course it was a dilutive financing, because the banks wouldn't lend too much, as they're taking significant risk as is. The streamers will probably do okay, since they'll get cash flow even if the mine is restuctured. The share price was low (still overvalued to my eye, near fantasy NPV5) so the equity tranche took a lot of shares. To keep my life simple, I don't touch these projects with a 39 1/2 foot pole. Anyway, whether or not IVN rises before financing, I don't see why the boys in London can't do an accretive offering, like CNL did to NEM at a 40% premium to market. If they're worth their salt, they'll sniff out a good deal.