RE:RE:RE:PI Coverage InitiatedCopperWave wrote: Agreed, I've asked IR the same question without a direct response other than the typical response of wanting to maintain safe cash buffer. Personally speaking, if I was CFO I certainly wouldn't have raised cash at these levels solely for the purpose of maintaining a cash buffer. My only hope is that the PP was raised to bring attention to Excelsior from analysts in hopes to promote this company to give us the re-rating and re-pricing we need for an eventual takeover. After all, we've been complaining on this forum about the lack of marketing right? This in a sense, is a type of marketing. Of course I may be too optimistic here, but I guess time will tell. Scotia is a Big 5 bank and I think shows a lot of confidence, as banks have lower risk tolerance than smaller hedge funds and mining funds.
Cash raise when they didn't need cash can only mean one thing. Excelsior will be taken over and management is likely to give itself substantial cash bonuses as they exit. After all this project has taken 10 years and bonuses or golden parachutes in the millions is truly deserved. Of course takeover price has to be great as well. I think Excelsior will be taken over around the $2.50 mark, now it all makes sense.