RE:Financings.We have Time.Tony
It doesn't matter how many shares insiders hold. If the market values Lion at say 66 million with 102,522,044 outstanding then you get what the shares are roughly
trading for now. If Lion issues another 50 million shares - minus any other news - then with a market cap of 66 million you would then have a share price of roughly 44 cents.
This is why in my opinion it was always better to go borrow the money and keep total control of the project and share numbers down.
Having said that it was a good move by Wally to get the "Rock" star involved for very few options. This has increased Lion's exposure in the mining world.
Guenee23 is right - it was the large institutional shareholders who convinced Wally to search for " alternative options" - code for JV.
At this point it looks like there will be a drilling program announced and then a share issue and then a financing. There's always a chance of some sort of JV as companies are still kicking the tires - but who knows.
Although I have the view we've wasted some time getting here because of indecision - at least we seem to be on a path now.
Most importantly there's still money to be made.