RE:RE:RE:RE:DESERT MOUNTAIN ENERGY ANNOUNCES PRIVATE PLACEMENT REPRICING
I asked directly Don Mosher yesterday and here is his reply as of this morning. The current level of inflation was not calculated into the current spend rate. We have been very transparent about the rising costs of cement, fuel, steel, etc. 20% dilution on a max of 2.5m units is 500,000 shares and warrants. The last significant financing that former management did was $1.5 m @ $0.20, there were 55 m shares outstanding all issued under $0.35 when we took over. That is dilution! We issued 16.5 m shares in since Oct/20 for $29.3 million. Rob want a cushion in the treasury and we will close next week with the money that comes in. I know it sucks but it seems like the fundamentals haven't changed and I am sticking with the company!