Gold Canyon Resources Inc V.GCU

next financing!

[diabase1]

At today's stock price, they will have to dilute the outstanding shares further, in order to get what they want for their next drilling program next spring. They already have 101M shares outstanding. A partner with money and who knows mining should be looked for. Does anybody at GCU know anything about 'real' mining? No disrespect to the 2 individuals that they just hired.

[Geospot]

Even though they had money in the bank and substantially more coming from warrants, the board decided to do the prudent thing in this volatile environment and raise cash in the mid-2$ range, with a financing that was oversubscribed. Basically, I think they decided not to risk the chance that the European uncertainty might go on longer than expected (which we now know it did) and raise plenty of

[cavedude]

Crap!!! I went to friend Cueball and put him on ignore instead. What will I do without his directionless and flip flop posts to influence my trading decisions!!! Geo, get 8 ball to friend me..pleeeease!!! As for the company cashing up, TRR raised 25.9 million and they already had enough cash to take them through the next year. Hard to say why companies do what they do, you just hope they are

[scoutaz2003]

They stocked up on funds earlier this year,,,twice. So they do not need to seek additional funds until next year. Most likely in the late spring. I mean never say never but they have plenty of cash.

[Geospot]

They have plenty of cash. And last spring when the SP was around $4.00 the gold price as represented by the GLD was about 139 -- compared with 158 today. And since then the drill results have expanded the resource significantly, plus we're probably only weeks away from a NI. When markets get scared like this it's usually the juniors and explorers without money or access to financing -- or

[pizzaman98]

Hey scout I bet your must be glad you bought your car with the money you already made.