OTCQX:BGMZF - Post by User
Post by
CNVCMon Jun 28, 2011 11:37am
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Post# 18774101
Extra selling
Extra sellingI've noticed no one has made reference to the 5 million warrants that will be exercised by July 18 as one of the reasons for the weight on the share price. It will result in another $5 million in cash for the company. I agree that the company should be trading much higher then current price. There is nothing sinister here. It's common to see this type of action when warrants are in play. This is a rare opportunity to take advantage of a short term extra selling that should end on July 18.
I was hoping the stock would pull back further but with the latest news I doubt it will drop much more. The value here has obviously increased with the latest drilling success.