RE: RE: Frank Knows...You didn't read it right! They are financed up till the end of the year and if the 43-101 comes out by the end of August and causes the share price to spike to $1.50-2.00 then they get another $5million from the warrants so there is no risk of running out of money and you KNOW IT! Even if they only have enough cash till the end of October the 43-101 will trigger the warrant money and then they get the extra $5million. Also they will get the tax credit money from the Quebec government at the end of the year which should be another $2-3 million.
My big question would be this. IF the 43-101 is indeed coming out at the end of June as stated why do the $5 million financing now when the boost to the share price is only 8 weeks away and you could raise far more with less dilution? Thats the thing that has me doubting. IF the 43-101 is gonna be out FOR SURE by June 30th then why do the $5 million so close to the point when you could do it for far fewer shares? Doesn't make sense unless you are thinking of maybe pushing the release date back somewhat to include as much drill data as possible so that as many ounces as possible are included.
This is all strictly my opinion but from what has just transpired over the last few weeks I think they have sent a subtle message that the 43-101 may indeed by pushed back until all Phase 3 results are available to be added into the mix. Will they admit this, NO! But at the same time they will not be too upset if they don't meet the deadline or have to revise it. Only in my humble opinion but have seen how Basa acts before and at the end of the day he does what is smart and good for the long term interests of the company. As we have all seen Frank could care less about what the market thinks short term or its reaction to this changing plans. Basa is about the long term big picture and nothing else. But we will all see who is right in a very short time.
Longrider