RE: RE: I am going to go out on a limb....
Tony:
With no drilling going on, i believe OLE is dead money until the updated feasability or if a Buyer steps up sooner. I know for a fact that OLE was about to sign a deal to sell the company last december but it got called off at the last minute. I believe Chet was winding down the cash position and drilling operation back then expecting he would have his money and be gone.
I know you may disagree, but I feel Chet made a big mistake by shutting everything down in Senegal as sitting on your thumbs is never a good way to negotiate. The only reason he would do a raise and dillute is to pay for his salary, Bentley and private jet. It would cost too much and take to long to try to ramp up drilling again without serious dillution.
I am not sure why a raise after the deal got killed off and continue drilling would have been a bad thing. New targets, higher grades, etc, would only add to the value and potential of the company and would not impact the current feasability as it would be focusing on new DH and targets. Again, I feel this is a lack of good leadership. Not sure if that is whining, but it is true...
G1