Looking specifically at the bought deal
Well the boundaries would seem to be the difference between the 2.25 bought deal and the closing price of $2.41. It points up the obvious fact that there isn’t a whole lot of difference between an old shareholder and a new one. And for the quantity of money being invested, it was the lowest price the new investors could obtain. The company can’t run on fumes and so a raise was to be expected. In no way does it change the prospectivity of their land but rather it creates a scenario where those properties can be further delineated. If the management had to crawl for the money the price of the bought deal would have been much lower, but that’s not the case. We all knew that if the LXE properties lived up to their promise, new financing would be needed. So here we are. Nor has management asked for more or less than what they think they need going forward in the near term. You call that prudence; just another earmark of the LXE team and it commands considerable respect from the investor. I have just a little under 25,000 shares and I’m going to let it ride. GLTA!