RE:RE:RE:AGG CLOSES OVERSUBSCRIBED $4.6 MILLION PRIVATE PLACEMENT
Nice to see an oversubscribed placement and management participation.
The Australian dual listing makes very good sense and is consistent with where AGG's new investor base is now forming.
The Australian institutional investors "get" Kobada's geology (and potential) in Mali/Africa ie highly weathered (oxidized) free-dig geology formed over millions of years of intense sun and rain weathering the rock, nuggety gold, which is very similar and just like is the case with much of Australia's mining geology. Hence you also have expert gravity mining plant designers like Gekko based out of Australia and their understanding of how highly profitable these lower grade / lower cost shallow deposits can be.
London financiers are next on the list in terms of their understanding of Kobada's geology and potential. Hence Cannacord UK is advising AGG and it was Cannacord's London office which issued the recent report with an 80 cent per share price target based on a 750k ounce reserve.
Last on the list are the Canadian institutions - these are mostly hard rock and blast, diamond drill, high grade, deep underground mining guys who are experts at Northern Ontario type mining geology and mine financing, but weak in their understanding of Kobada's geology.
Also good to see that Hybrid Financial has been kicked to the curb, saving their $60k per month cost - another FM special, which has been a spectacular failure given the share price trajectory since Hybrid's original engagement of a year ago.