RE:Anyone Paying Attention?Hi Rational47, been trying to figure this out as well.
My theory is that Pala setup the October 2022 restart financing package in such a way that they can support Nevada Copper through ramp up while reducing their average price per share which sat at around 2.48 CAD / share before financing was complete.
Before Pala exercised 350,000,000 warrants June 26, 2023, they held 468,798,163 shares at a total cost of $488,910,134 CAD. This averaged around 1.04 CAD per share. After the latest warrant transaction, their average SP now sits at around .71 CAD per share.
Pala holds about 54 million warrants at a strike price of .34 CAD and another 50 million warrants for (compensation of services, and other which have other higher strike prices).
So even after / if those remaining warrants get exercised, their average SP will be around .66-.68 CAD a share.
What's the rush for them to do this? I think their may be a merger or sell in the works for a strategic investor to help get the OP studied and developed, as well as expedite the exploration of this huge land package. Because if we continue to move at the rate Nevada Copper Corp has been going under the control of Pala Investments, we may never see an open pit in production…