RE:RE: Imperial metals
30 million @ .50 might be necessary but I think a tad low......time will tell in the next few months or so.
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Given that the last attempt at a PP at 50 cents failed to sell out and given that we've had the terrible May 2014 financials since then, why would you think you could place 30M at 50cents?
Given track record and current maket, I doubt you could do 30M at 25 cents.
My two cents is the best possible play would be do a transferrable rights offering at 15 cents with the proceeds being applied to pay out Sprott and wind down all operations except for the CM 43-101 work. Make the IR crew redundent, cut, cut, and cut all salary staff and go to the bunker and wait on a better prcie for gold. Might take 2 years. Might take 10 years so focus needs to be staying alive while spending the least amount possible.
If there is some smart seed money in the province then do a few earnin JVs on some of the fringe properties.
When the $2,400 gold that Uncle Eric promised does come, the BGM property package in the right hand would do extremely well IMO.
Just my two cents on a tough situation.