RE:RE:Stroud Resources Arranges $3-million Private PlacementThe 40 cent placement is about the best news we could have hoped for prior to a major drilling program. The increase in the silver price and the regotiation of the agreement with the property owner are both positive drivers of the share price since the private placement of last year.
What happened to the $800,000 you ask? Nothing happened to it.
A major drilling program requires multiple millions, and that is what they will have after this placement. You have to understand something - many here have been following the story for over a decade, some of us in the stock or out at various times and market conditions, but we know the potential of this property. 100 million ounces and more is what we are looking for -- not the mere 25 million they already got from limited drilling. We are looking for a major expansion of silver resources followed either by production or a nice fat buyout.