RE:RE:RE:how can they give away 7 million shares???OmegaMan5000
Member on Stockhouse since July 30, 2020 .... Just for the sake of some credibility, what was your previous ID, or ID's, on Stockhouse ? Just curious.
Are you a little miffed that you didn't know about this company last year ? Miss all that opportunity to buy hundreds of thousands of shares below $0.20 ?
Did you call the company and ask about participating in the recent private placement but it was already fuily subscribed ?
The purchase options on Ruby Creek, and for the Que Property for that matter, are back loaded, as in the payments increase in the later years of the agreements.
The fact of the matter is, these agreements are options to purchase the property rights. If / when the company progresses with their planned exploration / development, management will be better able to assess the property in question and decide whether or not to proceed further each year. That's why it's called an option.
6,500,000 shares left to issue on Ruby Creek over the next +3 years and another 2,950,000 shares to issue for the Que Property, IF the properties warrant continuation of development.
As of the latest private plavement there are approximately 18 million shares. That would total up to about 27,450,000 at the end of 2024. There will be further raises of capital, when the money is needed to further exploration / development. Itt's the nature of the beast for speculative exploartion companies. The cash portion of the payments can come from those financings.
We're all big boys and girls here OmegaMan5000, we've all read the press releases, and understand the structurre of the company. I'm sure you have looked at the compensation that mg't takes from this company. It isn't much, is it ?
Or maybe, just maybe you think your are smarter, more savvy than Eric Sprott ?
Your "altruism" is appreciated, but your line of questioning is quite transparent. I've been a member of Stockhouse since April 1997 using the same ID. I had all my posts wiped out last year because certain directors of company (Core Gold) did not like my exposure of their dirty deeds. So yeah, I'm giving you the benefit of the doubt for now. Best of luck with your inquiry to the OSC.
GLTA !