RE: Toasted / losvegasFirst off, I totally agree with Toasted's comments regarding how undervalued the equity has been when deal have been done... and the "2 for 1" sale on the deal last December was probably the worst. I think the problem is that BUK has been backed into a corner twice now where they've needed money virtually right away and have had to put shares on offer at fire-sale prices in order to get the cash quickly. I think it's safe to say that the lesson has been learned and that we won't see BUK in that situation again, particularly with all this cash coming at them from Durango iin short order. It's my understanding that much of the first placement was mostly to retail investors, while this latest placement was likely more institutional. Which brings me to losvegas' point....
I get what you're saying losvegas about the optics of he market action and the recent PP, but remember that even on this bullboard there was rumour of a convertible debenture. Converts always put pressure on the stock price, so the stock dropped. That's not manipulation, or "dumping", that's just how the market reacts to any hint of a convertible debenture. Antrim would be a case study on that recently.
As for your view that there are these dime-hungry, stock-flipping, don't-care-about-the-business-plan-or-future-prospects traders/pumpers out there, I think you're being a little too cynical. Do people like that exist? For sure. Are they going to be the ones still with BUK 2 years down the road when this is a $500+ million company (Piper aside of course!)? No way. Over time, the flippers that can't see that they own a real company with serious growth potential will be weeded out of the shareholder base and those with an understanding of the company's assets will get a nice long ride as the company executes on its business plan. It's like Oilexco #2 for me... I was in that stock and went through all of the same gyrations when that stock was in its early days. We always thought the PP's were too cheap and hated the warrants, but grumbled and moved on.
I take comfort in the fact that this is "it" for new shares for BUK until the huge cash starts flowing in a few months time!