RE:RE:RE:RE:RE:RE:Next door neighbourThat's another interesting point. I believe FCU also claims they have 30M in the kitty too, but around 12M is for summer, and the rest for next winter. So eventhough they claim they have 30M, they actually don't. It's just they haven't paid their bills/invoices for the summer drill program but after they do, the number drops significantly.
I think that is the same thing with NXE: They have 10M cash, and they have a 10M summer drill program. How can they be drilling actively (summer is almost over), and they still claim they have 10M in cash to their shareholders? Are the drillers working for free?
My take is they are hoping for some awesome holes to drive the stock price up and then finance at that level. But if the holes dissapoint, then they may have to finance at a lower level. Whereas FCU's approach is different and you finance two seasons in advance so you are not strapped for cash and at the mercy of the finance companies to keep your company going. No one way is right, it is just a different strategy. NXE is definitely a great area play and has oodles of potential, it's just the share count and the pending financing that has me a little trigger shy.