RE: RE: RE: Fianancing part of the news stinks.that is why ppl lose moent they doent do there due dillengence and yes this news is good news i doent know what you read but i think you need better glasses or a better head so stay away if you doent like this stock
----------Original Message Posted 11/12/2010 1:29:22 PM----------
Come on @stack, this is really intransparent and unaccountable behaviour what the management is doing. The share price had been well over 15 Cents for more than a month and now they come up with a financing at these levels including warrants that are already way in the money???
I have hardly ever seen a company doing this kind of crap, even on the venture exchange, recently. Grandmasters of such scum-deals were usually Canasia and Ecometals and the whole Gigliotti clan but VAX has in my opinion successfully applied for membership in the scumbag clan and I am not going to stay invested in such a company.
Btw, in the news were also the first results from the Pitchvein drilling and they did not impress me at all! Most of the longer low-grade intercepts are sub 200m levels, this is not good for strip-ratio in an open-pit design with these low grades. They might come up with a sizeable resource, say 1mio Oz but when the economics are fragile it does not help. The new zones are promising, true, but they just began exploring this, lots of work to be done to justify a 20mio market cap (when fully diluted including new PP).
Good luck to those who stay on board, I am out for now and might re-enter at 0,20-0,25 levels and I am sure we will reach them!