RE: Why I invested here!!!I have to say that I'm a little interested in this play... I always look at anything trading this low with a large dose of skepticism, but the initial assays reported by these guys seem healthy. I'm curious about this PP, though:
1) Company has announced and increase to the private placement as there is a ton of people who want to get on board!
Looking on Bloomy I notice that the PP was first announced on April 20, 2010. How is it that we're still talking about this PP and increasing it? Or is this a different PP? (I didn't see a NR for anything more recent and the details for the April 20 one seem to be the same as the one being described here)
If I am correct, how can anyone be excited over a company that takes over 4 months to close a PP?
Secondly, these guys will have over 75 million shares O/S once the PP is finished. And they're only going to have under a million in cash - that doesn't pay for a whole lot of drilling. They've got to drill some significant holes immediately or they're going to have to re-finance at levels like these, and really, you don't want to own a company that has 200 million+ shares O/S before they even hit a good hole. :/
Overall though, this play seems WAY more promising than SD... I can't believe people are comparing the two. :) SD seems to me to have nothing other than sketchy descriptions of gold in the area... they still don't even have a website! At least CUI has assays that have been confirmed in a lab! lol
I'll think about taking a bit of a position here once I learn a little more.