GREY:OLEPF - Post by User
Post by
tony1969on Dec 21, 2012 6:48pm
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Post# 20763570
Sprott and Oromin got a good deal.......
Sprott and Oromin got a good deal.......This is basically a credit line. Not all of it has to be used. 750k shares is only about one half of one % dilutive. They must hold the shares for 4 months. These Sprott guys are very smart and know they will make out very well. This move is basically non dilutive as they will probably not use much of the facility. As soon as there is a change in ownerdhip Sprott gets whatever cash has been used back with interest and gets to cash out their shares. Overall a good move by management as it takes financial pressure off of them and lets R B C patiently shop around for the highest bidder after the feasibility study. This is in my opnion the last major step before the sale of the venture. I was trying to relax in frigid Boston until G F texted me with the news. Cannot get away if I tried. You know I am kidding G F. It looks like another 3 months or so to average down. Happy Holidays!>