GREY:CATXF - Post by User
Post by
sololeoon Feb 20, 2013 11:25am
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Post# 21016303
CCY PP questions
CCY PP questions 1. Who will be taking down this non-brokered pp? Will be interesting to see how much is taken down by the Usual Suspects...
2. What does this statement ("The Company intends to use the net proceeds of the Offering to complete the remainder of its financial commitments to acquire an interest in the La Verde copper project and for general working capital.") in the news release mean? Does this imply that CCY has not fulfilled its financial commitments or that Teck has rejected some of the expenses submitted to them and, therefore, the clock for Teck's decision will be reset once CCY fulfills its obligations? Not sure how much cash CCY has on the books currently and, as a result, what difference raising $600,000 right now will make to CCY fulfilling its financial commitments...
3. Seems strange timing to me, less than 2 weeks before the deadline that we all thought Teck had to make its decision, for CCY to be raising this amount of money...unless they are short of funds and did not meet the requirements to earn their interest in La Verde. Otherwise, why not wait until Teck's decision and raise the money needed as a result all in one lump sum? Or, perhaps its the Insiders grabbing up some cheap shares before the Teck decision moves the share price...?
Thoughts anyone?