RE: InsidersFor what its worth, I contacted IR (Hugh) and he claims they are not currently doing a PP. I realize that they're not going to come forward with info if they were. I have been pestering them for awhile to add me to their list for a pp if one comes up, but as much as I'd like to get some warrants, I'd rather see the price appreciate some more in anticipation of the drilling and K2 advancement.
A couple things make me think they are not financing currently:
-they just cashed their options, giving us about 400k in cash
-payments have rolled in from JV partners and may continue (he says they may be close to closing another JV)
-As Matt says, Hite has really respected shareholders in the past and avoided dilution. With so many potential catalysts to move the shareprice in the coming months (Saccharum signing and hopefully announcing exploration plans, Nova drilling, possible additional JVs), I think management realizes that there's no need to try and hit a homerun right away and start major work on their own on another project. there's a good chance that waiting a few months at least would put us significantly higher to raise cash on better terms. We even probably have enough cash on hand to do some minor work on the Limestone project (I think that's the one that Hite claims that a $300k economic report was recommended on).
I could live with a PP if it was small, but I'm not sure why we need the cash right now. We have some hot irons in the fire already, so my vote is to sit tight and let Nova and Saccharum drive for a little while. They should provide us with the boost we're looking for. Maybe use the small amounts of cash we have to poke around the countryside and look for a few more properties to stake. They seem to have a good nose for them and with Argentina heating up with activity, go get them before they're taken.