Don't Overlook the Private PlacementYou must remember that these guys didn't buy these shares in quantity with the idea that they
would not be making at least the exercise price of 15 cents within the first year being returned
to them, or at least 20 cents within the second year. At leastwise, not in my opinion.
That would be throwing money away. I can't see 17 placees doing that.
Copy & pasted nr, from another poster, below:----------------------------------------------------------------------------------------------------------------------------------------------------------
Encore Renaissance 13-million-share private placement
Ticker Symbol: C:EZ
Encore Renaissance 13-million-share private placement
Encore Renaissance Resources Corp (C:EZ)
Shares Issued 218,382,237
Last Close 11/5/2010
.08
Monday November 08 2010 - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 14, 2010:
Number of shares:13 million shares
Purchase price:10 cents per share
Warrants:13 million share purchase warrants to purchase 13 million shares
Warrant exercise price:15 cents in the first year, 20 cents in the second year
Number of placees:17 placees Insiders:Michael R. Mulberry 100,000, Akash Patel 75,000, Lincoln D. Fuqua 50,000, John V. Tomanek 75,000
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I am not in as long as some on this bb, in playing Ez "long" but I have posted these facts:
the Ez mine is re-listed, and verifiable,
the Ez mine has re-opened, verifiable,
the Ez mine has addressed all the safety related issues to stay open, verifiable,
Kinross has stated a verifiable recovery rate of 93.51%.
So, playing "long" means I won't be spending time counting the days in between. I will sell "long"
As defined below:
Buying long means that you are buying stock to own with the expectation that price will rise.
You expect to earn a profit when you sell the stock at a higher price.
Selling long means selling stock that you own, ideally, at a higher price than when you bought
it, so that you will earn a profit.
angelwings
GLTA
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