Smoke & Mirrors or a Real Deal?I'll wait until all the smoke clears. One can only hope a deal that benefits current shareholders actually is about to happen. Long overdue. However, this deal comes from the same team that brought you the Red Metal Resources deal, Gold Leaf Mine deal and a gold brokerage business. They've also managed to burn through $2 million in cash while delivering one small drilling program in the last 18 months. Some mysterious valuation has been created at $22.66 million and the group managing a $7 million cap company is about to raise $8 million. Note the current Tomagold market cap is $7 million but somehow we really have a value over $22 million. As usual the pending deal is convoluted, confusing, has many moving parts and doesn't necessarily add up.
It would be great to see these guys pull off a win for shareholders. But i'll need to see it to believe it.
Let's see what happens on Monday. GLTA.