RE:News,financingLooking at the glass half empty I can't say I'm happy about this financing price as this will be approx 30% more dilutive then the original financing proposed at 44 cents. Us long term shareholders are being diluted down significantly.
Looking at the glass half full and assuming this financing actually closes I don't believe those who are participating are looking for a 2 bagger gain. They're likely looking for a 3 - 5 bagger gain. We're going to need a big reserve bump as well as getting more certainty on upping the resource.
Once again, assuming they close this financing, AGG is now very well cashed up with good potential to have warrants excercised to inject further cash. They haven't been this well cashed up since 2011. If they can get that reserve up to 1MM oz + and drill up some more blue sky that should make AGG a very solid potential acquisition target for some of the mid-tier producers in West Africa. I still do firmly believe Kobada has 5MM oz+ potential. $1+ share price is still doable.