2 weeks ...... is all that is left to get answers to a few pressing questions.
Bishop calls my comments scare tactics ... PJ calls them bashing ... while I simply try to look at situations through a lens that helps shape my resolve ... in any investment I have ... let alone narrowing it down to one company.
MineralFields was not the choice of 'choice' at this time last year either. Dwek was 'dwekking' the chit out of Dianor and there wasn't one person here at that time who thought they would then be tapped at the 11th hour of 2010 for funds ... and I would challenge anyone to suggest otherwise.
Dianor has what MineralFields thrives off of ... the timing/circumstance for them hasn't worked out the best either ... but ... the ingredients are still there for a huge win for them ... CEE and gains from share price.
I think MineralFields would surely come in again.
I think Dianor would surely tap them again if this time 2010 is to be any indicator.
Hell ... you talk to the legal advisors ... you talk to the accountants ... and it doesn't seem a stretch that numbers can be arranged to keep the company a going concern for another year as 2012 could bring the alternate finance sought.
While CEE has specific criteria that makes the expense qualify ... nothing says funds in the kitty from flow-thru can't be temporarily utilized in other areas. Just got to make sure those funds are accounted for and expensed in the proper areas by year end... but heck ... I'm just a laymen throwing that around ... the lawyers and accountants would no better.
The small placement recently suggested to me that those investors were convinced that a subsequent placement would take place at the same level.
I would suggest a MineralFields placement for $3-4 million would be about right ... set at
.05 ... with a full warrant at
.055-0.075
The premium to flow through would be on the high side based on the current price range ... but compensating for it with a very lucrative warrant would be the attraction and that is why I've given the bottom of the warrant range at
.055 ... which would be the comparator for last year but applied to the current price range.
It would be quite dilutive for sure ... but ... it would handle the immediate pressures ... carry the company well into 2012 ... which could then see the share restructure and the alternative funding materialize from there.
We'll see how it rolls out ... but MineralFields sure seems logical at this point ... they have a few vehicles to be announced ... Wortel and the boyz have no reason to change their opinion on the Leadbetter prospect ... and both companies get to kick the Leadbetter can for eventual success ... a little bit further ... 2012 !!!