RE:RE:RE:RE:Bought Deal FinancingOCB1234 wrote: Roosen was able to bring 'his guy' with him to run Eagle when he came on board, so he knows what a winning investment VIT is for his company.
The restructuring of 32.5M bought deal is not good news. It is a desperate move to secure the cash they need to finish building Eagle, so they don't have to put everything on care and maintenance before the famous "first pour" of gold. There was just no demand for VIT shares, as they have very little credibility to market.
Before anouncing the bought deal, they could have closed a PP with their large investors and come out to market for the rest of the money. The communication between VIT and "Roosen and his guy" must be very strong, this financing blunder is just an example on how they run business.
"Roosen and his guy" just protected their initial investment from a total stock price meltdown and average down the price of the shares they already own. Amateurish move on both VIT side and even more amateurish for "Roosen and his guy".
Just wait for Sun Valley or Electrum to start selling and we'll revisit the low 30c/share....