Personally downgraded NGD (BUY opp below $10 though)
After that private 500M was issued.. and eaten instantly by people unknown (most like the company principals).
Interest rate was too high... the BB- rating was with an outstanding debenture. which was cleared.
6.5% on a company with near zero chance of default... easy money.
Therefore general investors were not allowed to get their hands on it.
That sort of action means I wont overweight this stock so much anymore.
Feels like Barrick issueing that extra 100M debt paper at 10% .. for 100 years. ..can I buy some of that? LOL.
Granted though... NGD below $10 share price is cheap and a BUY opp!
Not many projects of Blackwater's scale around...