RE: Does It Pass The Smell Test"The net proceeds of the offering are intended to be used by the Companyto fund work on its existing properties in Mongolia, repayment of anoutstanding credit facility, and for working capital and generalpurposes. The issue price of the shares and the number of shares to beissued will be determined in the context of the market."
It takes money to make money and this news simply tells me that whatever PCY has in the works coal wise is going to take some more money on their behalf. Right now, unable to quantify the news but it does open the door for Rob McEwen to undertake an investment.