WHY, WHY, WHY?
Ok folks, since we have to figure out all by ourself here... Don't tell me you like the news as it is... this is not creating value for us at all... but here I somethings I am thinking.
Forever we've heard that WB didn't want to dillute himself... and now, we potentialy multiply the float by 2,5 overnight... fully dilluted, we will be at around 150 million shares... that doesn't make sens at all for a guy that didn't want to dilute no???? Seems to me all the money we needed was 20 millions for the MOU and to start some drilling, increase the ressource, use the money we will be making with the gold and continue to drill and increase the ressource again, prove we are sitting on an elephant and then sell all this beauty piece of land we have to a big players that will pay us big $$$
BUT NOW??? we are potentially raising 100,000,000$ (note that we currently have a market cap of around 65 million $! but we need 100 million???)... on top of that, we have full warrants with a special clause that might accelarate the expiration of those warrant meaning I want to have or I need my money after 20 days once the SP has increased... not in 18 months at expiration date like everybody is usually doing!
I want your opinion in that DRASTIC CHANGE... WHY WHY WHY?
1- Wally's turned nuts... I don't think it's the case.
2-Wally's finally not sure we have the holy Grail and wants to secure money (I REALLY HOPE IT'S NOT THE CASE!) at the sametime, the people that will be doing the financing aren't that stupid.
3-It's a big partner that wants to join with us... so they are investing in the company. If that's the case, we are basically selling almost 2/3 or the company for 1,14$... that doesn't make sens at all!
4-We are buying a great asset that is gonna dramatically increase the value of the shareholders... so yeah, you are dilluting, but you are gaining so much value on the long term that it doesn't matter... but that takes time before you are able to really increase the value compare to the dillution you are experiencing.
It's 3 or 4... I think it's 4... we are probably taking a stake in a mine that is already in operation and it's gonna generate some positive cash flow... I am probably wrong...
But this doesn't make sens... why did we need around 20 millions few weeks ago (if you deduct it with the numbers in the PEA and the vendor financing...) and we are now looking at a potential of 100 millions... why that 20 day clause... why that for years we've heard that WB didn't want to dilute and suddenly the float is multiplied by 2,5X... WTF HAPPENED???
I hope we won't be waiting for months before we hear about it!
Good luck folks, I always had faith in WB, that's why I stayed here forever... this financing doesn't make sens at all with what we've heard since the PEA is out... (we waited and waited for 14 months because he wanted a better deal, gold was low and he didn't want to dillute himself... and then this morning, with gold at 1320$ and on the rise... he wakes up and decide he's gonna dillute like hell... !!!) I continue to have faith in WB and I think that if he decide to do that it's because he has a reason... he has a plan...THERE IS A REASON AND I WONDER WHAT IT IS...GOOD LUCK