RE: Lets face it If this announcement came out last week - we would have all been estatic and the SP would have jumped based on the prospect of production. Because we got word a few days later and the SP was already 11 cents, it seems like we're giving away too many shares and in a reactionary decision people are selling. It's crazy! We now have our cash! 2 weeks ago we got word of 14,000,000 shares being put back in to the trasury. Now we are going to issue 10 million of them. If I do the math, we now have 4 million shares off the books and 800K in our pocket to cover startup costs. We can now get the rest of our financing at a better rate because we aren't desperate and can wait until the SP really appreciates.
I much much prefer 10 million shares at 8 cents and 15 million shares are 20 cents over 30 million shares at 10 cents. That's 3.8 million in financing instead of 3 million and only 25 million shares instead of 30 million which we all we comfortable with last month.