RE: RE: private placementDestinator wrote:
Myopic? How in the world is getting some of the best investor minds involved myopic? Look, I would have loved to be in the private placement too but if you I funded this placement, no one would even notice. Sprott has excellent researchers and they take their investing very seriously. Sprott's involvement is a confirmation of the reason why we have all invested in this stock. Sprott's involvement is nothing short of the most successful investment move this company could have made and I think Michael Carr has demonstrated that he not only has what it takes to find Gold and quite likely Uranium but he has also proven to be very capable of forming the best partnerships possible. First Cameco, and now Sprott.
With all due respect, this is the furthest thing from myopia that I have ever seen. Think about it. BTT is definitely the place to be.
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I find it amazing how I can say one thing and people read another. I didn't say it was myopic or bad that Sprott was involved or took a large portion of the placement. To the contrary I said I was pleased (to be sure, a massive understatement.)
What I *did* say was that to open up a placement and not consider widening it to be ALSO available to a broader range of shareholders is myopic of management. I didn't spell it out but I meant managements of resource companies in general and not specifically just Bitterroot. I also understand that there *could* be good reasons why managements might choose not to open up placements more widely. However, on the face of it my opinion is that it looks bad and some potential placement subscribers may have reason to feel jilted.
Once again, I am referring to how placements are handled by companies in general and not just how Bitterroot is handling this one. (Note: I am long the stock and stated an interest in private placements with the company long before it announced this one. Those who never partake in private placements would find this discussion irrelevant to them and I am not speaking for such people. Interestingly I have had this conversation with one company which took my point and *did* cut me in on a private placement after first telling me it wasn't open to anyone else.)