I''m not always right but ....If I'm wrong there are alot of people that will be a hell of alot worse off than I am:
2007-11-27 11:04 ET - News Release
Southern Pacific Resource Corp. has closed its previously announced bought-deal financing to a syndicate of underwriters led by Canaccord Capital Corp., Orion Securities Inc. and Genuity Capital Markets. The corporation issued and sold 27,323,000 common shares at a price of $1.83 per share and 4,525,000 common shares, on a flow-through basis, at a price of $2.21 per flow-through share for gross proceeds of $60,001,340. An overallotment option granted to the underwriters to purchase an additional 1,357,000 flow-through shares at $2.21 per share was exercised and also closed today.
Total gross proceeds from the financing, including the overallotment option, are $63,000,310.
Add to this:
Nov 27/07 Antony, David Michael
Acquisition under a prospectus 10,000 $2.210
Nov 23/07 Mallabone, John, Ward 16,000 $2.210
Further:
Previous pp that closed on june 8th was for 32 million at 2,90 (overallotment again) with warrants at 4$.
Add to this I got the blessing from my technical guru!!!!!
Now please give me some valid reasons why I should sell sell sell.
I'm planning on doing quite the opposite. How about you short and I hold and lets see what happens to are net worth.