RE: Huge!! Hard Rock Analyst about Aurelian Based on initial results the
stock moved quickly back to
the $3 level. A $20 million
financing at $2.75, with no
attached warrants, was done
in late April. This 7.2 million
share placement is the only
significant “new” stock in the
company’s future. Its release
late this month may
create some selling, but we
expect this to be limited and
based for the most part on
positions that have since
been “averaged up”.
The one other shares issue of
note is a suit filed by RTO
placees claiming they were
due an extension of the 75
cent warrants because “best
efforts were not made” to
obtain a full TSX listing that
would have triggered an application
for their extension
from 2 to 4 years. We are
told “commercial efforts”, as
required, were made. At any
rate the impact of this would
be a further 2.7 mm shares
of dilution which, though
adding 10% to the issued total,
would only temporarily
impact the company.