Maxim Resources Inc. V.MXM

inthegreen

[souwester]

To be honest, I wasn't happy with the financing, because it occurred after the permit, when the big cloud was removed, and raising the money derailed the post-approval rally. I suspect a lot of longs weren't overly happy, though I suspect the company also was fairly "democratic" about letting long-timers in if they wanted.

That being said, presumably the company needed the money to move matters forward, acquire more land, secure rights in the Gulf and Trinidad, etc. Further, the shares are subject to a 4-month hold, while the warrants generally expire within the year, so they have to be exercised fairly quickly, which will provide the company with more money. The warrants won't hang around the share price for years.

Basically, this is finally show time for the company. I expect to see some fireworks. By the way, as Tommer stated, the current float is about 70M, a lot of money must be put into the kitty to get up to 100M.