Thoughts re: the new issue .... I have difficulty believing that the new stock issue at $0.25 would fly. And Art needs the money now .... so me thinks it's going to be just under $0.20/share (a $0.15/sh will probably sellout, but then that would be a "kill" to present shareholders, incl. themselves). The real, major difficulty I have though - and this only now, since I jumped back on the boat .... lol - is understanding how a significant dillution of ownership (albeit needed) can be decided by a few folks who might own some of the company, but don't own it all (or a majority of it).
Management, unless also majority owner (see ol' Stronach etc.), cannot simply wake up one morning and decide on a new issue of common shares - ownership in the company decides on that. Given all these, then, I came to assume then that Art & Co (read Cannacord and fellow UWers) REALLY DO OWN a majority of the present stock, in which case, we better shut up, us lil retail investors. Just sayin ...
Please do not missunderstand, folks, I fully support the necessary new issue - the guys need funds to stay afloat till we get news from Liberia.
Last bit to chew, from Nicky, w/ love: NZ - in my personal opinion - is noise, blah blah blah that will never work out. Had it been no Liberia, I would not have been here now, posting this. Of course, many out there like diversification, multiple projects play to many ears the music they wanna hear .... so I see why NZ comes back into many conversations. To me though, the seismics of that region is such that it precludes any serious oil operation w/in reasonable risk. To all who care to check it out, here's a product of a quick 2 min. internet search ....
https://info.geonet.org.nz/display/quake/Earthquake+Facts+and+Statistics
... and btw, good ol' wikipedia even has a nice map showing how the major NZ fractures come across right where XOP & allies are supposed to sniff for oil.