RE: RE: no valueWow...
The conversation certainly has deteriorated on this board...From Oracle's obscure rants...to Hallgg's
"6 more months"...
Hallgg..."Watch and learn"?? Are you serious?
Anyone that followed you off the cliff took a minimum 50% haircut...(Remember we've been having this discussion since the financing was announced when the share price was in the mid-60's)
Have you ever heard of capital preservation?...Honestly, when playing the juniors... its half the game! As soon a crap goes sideways with any investment...Get out! You've got to learn to sniff out when something isn't right...
Does this sound familiar?
Um...Yes, we presently have $8 million in the bank...That should be up to approximately $11 million when the warrants are excercised....b-u-u-u-u-t-t-t-t-t...We want to raise another $8 million at 50 cents anyway...Just cuz...We're doing lots of drilling you know....Oh!...Hey!...Look!...We have some interest in the financing... (right after we drilled that great big intercept between some old holes where know mineralization is known)...Lets double the financing to 30 million units....and lets throw on some full warrants and really get the dilution going...
These guys had enough money for a decent drill program to begin with when the financing was announced...So why raise the additional funds? The point is: Any idiot could have figured out that Seafield management knew they were out of "sure thing" bullets after that hole...so they took the money when they could...You can't blame them. Those to blame...are those who couldnt figure out the rationale management was following...That really was easy for anyone that was objective....
You've been clinging to this turd in spite of all the Red flags...Poor management will sink you 9 times out of 10...
T2