RE:RE:NEWS !US holders can participate in rights offerings... I've done it a few times from sunny California, but I also trade the TSX directly, not via the US tickers. Not sure if US shares get rights...
I'm also not sure how much confidence is inspired by an announcement that they're basically doubling the share count via a rights offering but have no news to support the SP. The first NR about the Congo SDI was June 2015, almost two years ago, then they went completely silent about it a year later in July 2016 when it still had not closed. No updates since. No $12 Million down payment. I consider the Congo SDI dead without some evidence to the contrary, which has not been forthcoming.
Begging door to door with this "play or pay" (participate or get diluted) rights offering does not bode well, imo.
Moderndaymarval wrote: Few things about this:
1. Kudos to CT Blizzard who speculated a few weeks ago that the rights offering would only be issued on the TSX.
2. As a US shareholder, I am curious how the price action will be in response to this.
3. Some may disagree with me, but even the comment about the SDI and there being no new developments gives me confidence about this management team. The transparency with that comment is reassuring and, tacitly says the SDI is still at least a potential unless otherwise told.