Reply to Skater
Don't know what happened to my posting?...Just saying, Tembo has a standby guarantee to backstop this rights issue, presumably willing to buy up all the rights for sale on the market...No-lose preposition for shareholders since they are freebies. With the stock currently held up at 10 cents, the intrinsic value of a right is almost 5 cents. I see the rights selling at a slight discount for 3 to 4 cents range, or could be higher if the stock creeps up from here. The worst situation would have been for the Co. to cut out minority shareholders - do a PP with GS and Tembo exclusively - and dilute their shareholdings with massive amount of new shares.