Cash Position = Buy Out TimingA review of the offering scheduled to close next week and Victoria's Statement of Cash Flows indicates that the company should be cashed up to about $25 million after the proceeds are received. A very back of the envelope calculation indicates that gives them about 9 months of cash for operations. Now I doubt that they would draw down to the last minute on cash. I also would be surprised if they came back to the market for more cash given the dilution factor, so I'm inclined to think we will see a deal within the next six months, plus or minus.
The other factor of course is what happens to the price of gold. If we are currently in the beginning of a big run up in the price of AU it may be the factor that pushes a deal to close quickly.
I have added to my postion here in the $.45 range.
GLTA