RE:RE:Was the RS Necessary?keep in mind PP shares are subjected to a 4 month hold. So a PP close at mid-nov means nobody can sell until mid-march. Phase 2 results will be out within weeks and if results are fantastic, the stock will move very quickly and PP holders will not be able to sell any. The RS was necessary due to exchange policy (need sp to be certain amount before a raise can be done). Red Lake will be a longer term factor for the company so the current focus is on the Roger project. Assays for these are crtiical.
Jabookie75 wrote: The board seems to think so. They are reducing share count down to 21 millin but then diluting another 16.6 million with this round of financing and also adding another 16.6 million warrants at 0.13 which is 0.4333 pre-split. They just squashed any upward momentum this stock was going to have. Yes I understand they are a junior company and need funding to make all of these projects work. This just turned into a long term hold and these new shares and warrants are a big overhang on upward momentum.