GREY:COLUF - Post by User
Post by
JoeKoolon Nov 09, 2011 4:41pm
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Post# 19223874
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Big pictureThe complainers of this bought deal don't seem to get it. Firs, they raised 86 million without any dilution, and if the dilution takes place it is just over 5 million shares and will put another 44 million in the coffers. So, we add less than 5% to the total float and raise 130 million. Pretty good if you ask me.
Second, they have 5 years to pay the 86 million back plus interest. So, on average, they have to pay back over 18 million a year. Where is the 18 mil going to come from. Obviously, the plan is out of profits from mining this baby. They must feel quite confident of what they have and their time plan to start profiting from it. You know the guys who took part in the OVERSUBSCRIBED bought deal feel extremely confident their investment is quite safe. If that doesn't put a big smile on your face about this play, then maybe you shouldn't hold shares here.