RE: BOUGHT MORE TODAYddn probably thought that 10m was all the market could bear, given the sheit storm that is currently afflicting the global equity markets. When institutions started tripping over themselves to subscribe for additional units, then who were ddn to argue with the "sharks" as you call them.
convertible bonds? I dont think so. Debentures and other such debt financings are for companies with 43-101 compliant reports/tonnage estimates and bankable feasibilities..... not for a grassroots exploration play operating in the most inhospitable terrain on the planet.
dont get me wrong - DDn has a great chance of knocking the ball right out of the park and I bought in last year along with many others here...... I just dont think there will be an announcement of a mine for another 4 years at least, and many people just dont seem to comprehend the timeframe associated with proving this tuktu cluster up..... and as a result they want everything now...... including debt financing for a mining scenario it seems.
DDN is what it is... a highly prospective grassroots diamond play..... as such, the recent financing is a fantastic result which IMO could not have been bettered.
I am in DOR which did an almost identical non brokered financing over 3 years ago at a similar stage of development (micro drill cores)..... the SP has gone from $2.18 to 30c in the intervening period even though DOR are about to undertake Canada's largest ever bulk sample....... ddn has a long way to go and it wont always be an upward trajectory.
well done to ddn for pocketing the cash and heres hoping that they husband it well and manage to turn up a few large stones in a mini bulk sample or large diameter drilling........ thats what will fast forward this play.