2.5mio PP
https://www.brazilresources.com/news/index.php?&content_id=127
95mio shares fully diluted now... a full warrant is not nice and I couldn't find in the press release what term the warrants have. Merry Christmas to Katusa and RR! ;-)
At least the PP is not that huge to dilute too much and not that small so that no work can be done on the projects although for what they write they want to do I am not sure if 2.5mio is enough given 300k of Working Capital end of August and G&A of around 1mio$ a year...
Hopefully they will be able to make some progress over the comming 12 month as I personally would not be willing to take more than dilution to 110mio shares (fully diluted) with the current status and keeping your institutional investors happy by giving away a full warrant at these prices...
Would be nice to get an overview what has happened with the 5.5mio they raised last year as I read only 3 news releases that are resource related over the last 12 month.
I trust Adnani and Katusa/Rule wouldn't put their money here if they aren't convinced but as a small retail investor you usually the one left behind...
At least we now know why there was pressure on the shareprice. Easy to sell at 0,6-0,7 when you know that you get your shares back for 0.55 with a full warrant, isn't it?
Just my personal thoughts. DYODD
carinthian