Swinging for the FencesIt is clear to me that Kincora is very sure of what they have at Bronze Fox. They are confident that this will be the last time they need to come to the market looking for funds as a junior exploration company.
Let's be honest, we are all looking at the resulting number of O/S shares with some trepidation.
They could have done a roll back here but we all know what that does to a share price and it is seldom positive.
I am told that Management and Insiders are all over this PP. Remember that insiders control over 60% of the 207M O/S at present and I would not be surprised to see that % remain the same or even increase after the completetion of this PP.
I applaud Sam at Kincora for a bold move now to get the funds in the bank and the drill turning as soon as possible.
I can tell you that if there is any negative reaction in the market that drops the share price down I would consider that a gift and be buying as much as I could. The message remains the same. Those who are still in this looking for a quick return may head for the exits with this announcement. Those with a longer term perspective will be there eagerly waiting to buy those shares.
They are dreaming big here folks, the next OT!
Chip