OTCQX:BGMZF - Post by User
Comment by
yaponskion Aug 12, 2013 5:36pm
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Post# 21664868
RE:RE:BGM is still halted on Pure Trading
RE:RE:BGM is still halted on Pure TradingThe drama, the drama...
So up to 4M shares worst case (deference to the BBoS who rightful points out per his spreadcheeky program, BGM might well trade above $1 substantially cutting Sprott share purchase) would be almost 4% dilution to get money necessary to raise money, the ultimate dilution, to get back to normal business. Ok, maybe Franco Nevada will cough up 20M on NSR and stream deals but if you believe that then you definitely have had too much explosure to a certain cheeky program. Careful!!
Odds of a future roll back, perhaps 20 to 1 sure are looking pretty good. Odds of dilutive financinng also looking excellent IMO.
I expect that Sprott loan terms are end of year since that is timeframe for fully sized financing to be copmleted with the Sprott money just being the flash money required to get to the full financing package -- maybe payments to cover PEA, some drill core analysis and like stuff to grease full funding package. Once full funding is in place Sprott would get paid back and BGM would be off to the races once again. I expect that is plan.