RE: Agnico Eagle mines News Release The good news is we're well cashed up for 2013 exploration season and we have a very interesting strategic investor on board who is probably going to sit on those shares.
The bad news is we had to raise money at $1.35 which is a lot more dilutive than if we raised this money at $3. This is not a finger point at ATC management but is a reflection of a very broken market for the junior resource sector. Let's hope the market fixes itself in the next 12 months or we have a milestone year with a great initial resource calc that the market just can't ignore. Maybe if we can advance things enough this year we can start selling off some of the discovery blocks of Rackla while maintaining bluesky potential with new discoveries instead of diluting ourselves into oblivion which is what will happen if we keep having to raise money around a $1 a share.
GLTA