The big question!We know that Farshad has come down from the site to do a private placement of convertibe notes for the amount of $100,000.
Now the big question! Why?
Is it because he drilled a few holes and on the last one after seeing that it ended in mineralization he needs the extra money to drill deep?
Is it because he has found something good at target B and he needs the extra money to do a stepout hole to prove to the market what he has believes is there?
Is it because his first few holes were disappointing and he needs the extra money to try out another hole out of desperation to be able to raise more money for further drilling?
Farshad owns approx 15.7 million shares. He is a geo and knows this area very very well since he was one of the initial geos in this area and kept what he believed was the best property! We know our well know reputable neighbors who just came off a very successful project wanted to take our property. After doing some work and doing an aeromag flyover, their curiousity lead them to overfly our property (must be because they saw how good it got on the edge of their property and flowed onto ours). Farshad saw just how hard it was to raise $650,000 for this phase of drilling and he therefore knows that he has a lot of pressure to deliver otherwise this could be the end of the road for his dream because money is hard to find for juniors right now. Farshad is an excellant geo and knows what he is doing. I have full faith that he is did and will do his best to deliver. The float is low and the share structure is good. The market is not anticipating much from the lack of trading that we are seeing. We do know that Farshad has become very very quiet this phase compared to the last one where we knew about visuals. Is this because things are going very very bad and there is NOTHING to discuss or is it because he has found what he is looking for and is being very tight lipped to ensure no leaks and no issues from the exchange! I think its the latter and he is doing this "by the books" so the results will surprise everyone!
So now the big question again. Why raise the extra money at the late stage of this phase of drilling. If one thinks this is a good sign and has faith in Farshad and the property this is probably the cheapest one can buy the stock and maybe the last time it will ever be this cheap.
Another few weeks and we will know everything! I am happy to know that the the results will come out early Jan as late Dec is not the time to surprise the market with big news! Is Farshad timming the results to come out when they will have the biggest impact on the stock price (he does own 15.7 million shares) meaning the will be good?