BZA new shares: personal opinionsSEDAR:
"According to proxies received and vote by show of hands, a resolution authorizing the issuance of up to 300,000,000 Common Shares (comprised of 200,000,000 Common Shares and 100,000,000 Common Share issuable upon exercise of Share Purchase Warrants) was passed."
Realistically, at least the mine won't close. We had a great shot at development this year, but the team couldn't give us the 2,000 ozs/month we needed to be profitable. We lost money every month, but so it goes. Now it's a new start, with all the work to date accomplished, and what I trust will be fully adequate funds to get the mine into its maturity, making profits every month.
Who knows, the part of Copperstone up for exploration by Suparna may mirror the origninal discovery (Cyprus Minerals took 500,000 ozs between '87-'93)! At least the territory will be advanced promptly, and if there's gold there, every drill result and eventual ounce mined will add to our bottom line. Without a partner, that ground may have sat undeveloped for another decade, given our limited finances and corporate focus. Rather than nothing, I am glad management is taking the steps they can, given the current climate. i believe some quiet applause is due.
I've made and lost money in BZA for 8 years, and am fortunate to be buying in again at this low level, at a time of improving mine results, and hopefully close to the point where the price of gold increases.
All the comments here are just my own opinions, and not to be construed as advice. I admit I don't know much, and am probably better at losing money with Bonanza that making it, but still... I remain hopeful.