OTCQX:MEAUF - Post by User
Comment by
investornoton Jun 25, 2018 9:28am
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Post# 28222969
RE:financing closed
RE:financing closedYes the $3MM capital will keep the drills turning, but if they maintain the same cash burn rate as since the previous PP it will extend the reserves for roughly12 months. In the meantime this issue is perhaps at the lowest price provided by the Company in years. Not surprising then that it was a closed deal to select buyers. If ME does well then so will they.
I still see a need for a larger PP at hopefully a higher share price to bring in more capital. This new cash simply takes the immediate pressure off.
Other Canadian junior mining companies in the news and with higher grades than here may take some of the luster away from Moneta. Still the price should react positively to new rumours of a possible take over should that materialize.
Waiting and watching...