RE: that 6.95 offering....If you are saying the cap is long term you are quite probably wrong. A lot of things can happen but look at the circumstances and ask yourself if you would have been happier to have the financing at $5.00 or $7.00. The stock price was $4.00 not so long ago. The cap is very short term meaning weeks.
They have $60 million roughly in cash plus the $100 plus million financing. With a prefeasibility due prior to the end of June it allows them to move forward on "their" terms not a financiers.
This was a bought deal. They don't have to try and sell it. It will close shortly and the money will be in the bank.
According to prior news releases there will be drilling results and a prefeasibility out before the end of the quarter.
At the end of the quarter you will have an average gold price of $1155, an output similar to last quarter plus 2500 ozs that did not get sold last quarter. (in the last release). There could be a 5000 oz swing this quarter.
I think you will see the second quarter quite a bit better than the first.
I took advantage of the rise and sold a bunch at $7.50 then bought them back at $ 6.50 a few days later.
I see close to $8.00 by end of June, maybe $8.25
Wes