Gold X Mining Corp. GLDXF

RE:RE:RE:RE:Sandspring On Watch!!

[DaMantis]

I follow your thoughts on the float not being the sign of dilution.  I don't really mind that the float is large.  At this point, close to 3 years after the bottom of the bear cycle, any float that's <100M S/O is probably the result of a roll-back if it wasn't a brand new company.

My complaint is that they just issued 36,000,000 shares + $1,000,000 cash (~$10M) to buy a 400+ hectare early stage exploration property when our market cap for a near FS resource was hovering in the $33M range.  

That was a roughly 30% dilution of an advanced project for a postage stamp early stage postage stamp needing significant further funding to progress it to anything worthwhile.  It might be understandable if there was something of current value instead of just potential value there.  But that's not what they bought.

If that isn't dilution to my shareholding.  I don't think I grasp the core concept.  

Like I said, I'm very happy with the deposit and am holding my (unfortunately) oversized position until the FS is finally released (hopefully this year).  But I won't likely be holding till construction at this point.  I'm just too disappointed with MGMT.
>DM