RE: SellersMy first post too. I was told about this one in the summer. I thought it had potential but seeing that last financing has me completely cooled off. I can swallow the 30 cent placement but I can't swallow the 40 cent three year warrant. That is 22 million shares with a 35 cent average. If Doug Casey has 2 million shares, that means he effectively has 4 million. 85 cent stock pockets him 2 million dollars. 85 cent stock pockets the pp participants 11 million dollars. That's way to rich for a stock that people thought could be worth dollars. Not anymore, at least not until 22 million shares have been chewed through. If these guys are happy with a quick 50 to 100 percent return then they can take their money off the table with quick profits and sit with a risk free investment.
The company has been diluted by almost 50 percent. Their portfolio is already diluted by government and other joint partner interests. This placement has killed a lot of upside especially by this very rich warrant. It just doesn't give me a warm and fuzzy about who the management is out to please so if I was a potential investor, I'd be looking for better investment opportunities elsewhere. Too much overhang here and since exploration companies need more money to keep going I don't have confidence that future pp's won't suit a select group of investors at the expense of others.