RE:RE:RE:4,5 Million Us Dollar net earning is fantastic Bailey2,
I concur.
And this little gem is in the subsequent events, the very last paragraph, of the latest MD&A.
"....Debenture Conversion
As of the date hereof, the Company has received notice from a debenture holder of its intention to convert $600,000 of principal amount of debentures into common shares of the Company at a price of C$0.15 per common share and based on a pre-determined exchange rate of C$1.35 to $1.00. Upon completion of the conversion of the principal amount and the accrued and outstanding interest, the Company expects to issue 5,610,200 common shares to the debenture holder.... "
i recently posted the breakdown of issued and outstanding and fully diluted shares, so you can add these 5.6 million shares at $0.15 to the total. Gawd only knows how much of those $0.15 shares we will have to wade through as well.
Production should pick up a little going forward now with the company anouncing access to the resource at Galaxy, but quite disapppointed that production actually dropped in Q4 2020 from Q3 levels. Will be interesting to hear from management after the Summitt Mine/ Banner Mill acquisition closes exactly what their expectations on refurbishment and restart timelines will be for the New Mexico acquisition.
I like the longer term prospects here somewhat less now, as the upside share price potential has had the stuffing knocked out of it with all the cheap dilution. I pared back my position by about 2/3's a couple days ago @ $0.23 - $0.24 .... down to 150,000 shares now.
Galane mg't finally deemed it worthy for shareholders to get Q4 2020 production and financials a couple days ago, whereas every other miner I have a stake in or on my watchlist have already posted Q1 2021 production numbers a week or two ago and are starting to issue Q1 2021 financials .... as is the case with CXB filing on on Monday May 3.
Moved the cash from selling Galane into adding more shares to the holdings in miners and explorers like CXB, FSX, LVX and STU.
GLTA !