RE: Financing - warrants a similar premium today would imply a strike on the 4 mm warrants of maybe $1.
They don't need $40 mm but it would be nice to have some extra cash on the balance sheet.
Make sense?
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er, no..... the "extra cash on the balance sheet" only comes if the share price trades OVER $1 and IF the investors give money to CRJ and buy the $1 shares.
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McMillian was clear on the CC that this would not be an equity based deal - no PP, no convertible debentures. Then again, maybe we should wait to see what he does, rather than what he says? I suspect they will have to do an equity "sweetener" to get the deal done. That is if they can fend off gold forward sales.
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I don't see CRJ trading over $1 any time soon.
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Oh and I see POG is back under 1700 in Asia this AM...
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Can we make a new 52-week low in CRJ price?
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Sure wish someone would come in and offer up 80-cents for the shares or a 50% premium to the 2-day moving average. Let's get this pain over with and the assets into hand that can develop them in a rapid fashion! Wonder if McEwen has an extra $150 MM laying around he could spare? Bet he'd love to have another mine in Red Lake!