RE:RE:BrendanC-Excellent postSurathani,
Thanks both for the comments! Glenn offered up shares to exsisting shareholders in November for $15,000 (Chump change compared to what Aura offers)... to me, that doesnt seem like something a CEO would do when preparing to screw us over. He could have simply had the offering given to Aura. The need for money wasnt pressing and needed at that time. The MET was completed and then the debenture offering to pay for everything was given to Aura to pay for MET and PEA at once. It was, in my eyes, an offering to exsisting shareholders out of good graces. I have/had a NR from Glenn on the offering where he even goes as far as saying that the offering was to help out exsisting shareholders who have missed out on other offerings.
I do agree that he keeps us ill informed. I do not like it but I have to choose to either suck it up and take a little more risk and make the best of reading into the situation or sell my shares and hope I dont make the wrong decision.
As far as not telling us he is using the money to drill the Cu... I am not, in any way saying thats what he is doing so please do your DD and make that assumption yourself. BUT, if that is the case and he had added that we were going to dril. Drilling = time.... A lot of investors here are not longs and are here for the quick "Buck". If he had said they were going to drill, we would have seen more losses... IMHO. Also, it may spell out another delay in the PEA. I dont think this would be the case tho, possibly just an updated PEA down the road. They could give the PEA on Santa Barbara and then, once drilling was done, give an updated PEA with inferred resources and include El Hto and El Hito North into the Santa Barbara Project.
This is just what makes the most sense to me... he could be raisng money for a seamonkey farm for all I know.
We have done all the gold drilling they can do there. They have drilled all the sites for Au and all that was left is to update the Cu and sell the company. I would have thought that gieven the region and being so close to FDN, that we wouldnt have to waste the money moving it from indicated to iffered but it appears like we might be. If it had only been a few hundred thousand dollars, I would say it was just to pay the bills but... $900,000 is not money on hand. As far as I know, the MET was paid for, PEA was paid for... only leaves drills. BUT, I could be wrong... what are sea monkeys going for these days?