AH move number one. Instead of issuing 62 milion shares theycould have done a streaming deal.
Asside from dillutiong the intrinsic value per share, the price they did it at kills any upside for a long time. Case in point. The stock was trading at 1.21 around a week ago. Then we get selling upon selling with manaagment saying financing is days away. So as I pointed out, with the info out there, about a project with a nav per share a mulitple of current share price--Who would sell, other than those who know what the financing deal consists of?
Another pont I made before whan cannacord and cibc inisated coverage and put out price targets of thi tiny microcap mining more than double what is was currenly trading at. I said, what? They were going to be part of the equity raise.
With the price of gold shakey, I for one aren't going to be sitting holding this for the next 18 months.
The opportunity cost of holding these shares at no to little gain while every copper and oil stock I've owned in the last 6 or so months is up 50% plus sickens me.