Advice for the CGX BoardSo you are thinking about an equity raise about 10 million dollars for "the Company's general and administrative costs".
Well here is something to consider:
PRE moves the 100+ million dollars they have already designated for CGX into the CGX accounts, with PRE's specific designations. The SP increases to anywhere between 3 to 5 dollars from the present, because CGX no longer looks short of cash.
CGX no longer appears like BEGGARS.
CGX is then in a strong poistion to negotiate with peers for JV's.
CGX then raises 100 million dollars in equity at SP anywhere around 3 to 5 dollars. This is approximately 20 million shares. CGX stipulates allocations to Investment Brokers.
CGX now has 200 million dollars on their books; looks very solvent. Strong position from which to negotiate JV's with peers.
CGX negotiates strong and hard for best JV's.
CGX wins the case with Repsol.
Success feeds upon success!
Remember your promise CGX - will reduce all costs such as travel, admin, etc.