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Mega Uranium Ltd T.MGA

Alternate Symbol(s):  MGAFF

Energy
Mega Uranium Ltd. is a Canada-based mineral exploration and development company. The Company is focused on the acquisition and exploration of uranium prospective properties. It has exploration stage mineral resource properties in Queensland and Western Australia and investments in uranium-focused companies. It also holds interests in junior and medium-sized uranium exploration and development companies, royalty and diversified uranium holding companies, and its own exploration and development projects. The Company’s project is Maureen Uranium-Molybdenum Project, which is located approximately 32 Kilometer (km) away from the small regional hub of Georgetown, located in Northern Queensland, Australia. Its subsidiaries include Maple Resources Inc.; Uranium Mineral Ventures Inc., Mega Georgetown Pty Ltd., Mega Hindmarsh Holdings Pty Ltd., Mega Redport Holdings Pty Ltd., Monster Copper Corporation., Nu Energy Uranium Corporation, and Northern Lorena Resources Ltd.


TSX:MGA - Post by User

Mega Uranium Ltd
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(1)
•••
Comment by Braincells13on Feb 18, 2010 6:55pm
301 Views
Post# 16797812

RE: RE: RE: RE: RE: more dilution

RE: RE: RE: RE: RE: more dilution"How wrong can you be? You are forgettingthat U308 have to issue the 30M shares at current market price of 47cents/share before any exchange can ever happen. Given the fact that30M shares at 47 cents will cost U308 about $14M which they obviouslydo not have (Q1 2010), and will either need to borrow or issue the newshare through dilution"

Ok let's see what's happening in U308's books :

Dt : Mines     xyz
Dt : Cash     $4M
Ct :      Oustanding shares      xyz

xyz = me too lazy to make the calculation

I don't see where it would cost U308 $14M. This being said, I think that MGA management is a lot smarter than you.
Bullboard Posts
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