RE: bookI have mixed feeling. Securing financing in this market is a good thing, the dilution and price of course is the question? Overall, it is not so bad, if the money is used to get Prognoz going, prove up more reserves, and get a feasibility study done. As has been pointed up, those eventual reserves could be huge, but they are already large.
If one took the position that they should have done it at a higher price, and the stock has been kept artificially low, then what price could/should it be done at, if different? The investor is taking risk, whether we think it low, high or whatever. Is there anyone else who would step up to the plate and offer more? As well, it is obvious in the current climate, that HRG should have a large Russian participation, or I think the risk of the deal somehow being delayed, taken over, stopped etc etc is significant. With large Russian investors we are not fighting the beauracracy or nationalistic situation.
I think all in all, not bad, when you consider all of this. Probably cheap for the investor, but like I say, it has its reasons probably. In the end, IF Prognoz plays out as the monster it could well be, I think investors do very well at this entry point. I say buy on these emotional pull backs, and trader moments.
This stock has more chance than ever of being over $5 over next 1 year plus.IMO It has the cash, the reserves and the potential. I am holding. There is risk everywhere, but I like the chances here.