RE:RE:RE:RE:RE:News: ANX Upsizes Financing Up To $8.5MI’m an old Orex shareholder and my nickname was inspired from all the frustration I have endured with that company. When we merged with Anaconda, I finally started to have a good feeling about the future of our Goldboro mine. Since then, we had a few changes in the board of directors, and the present group, with Kevin in charge, seems very dynamic and competent. They seem to have a clear plan, and I like the fact that they are frequently buying shares on the open market.
But I must admit that this new financing has me scratching my head. We had a lot of drilling in 2020, wich totalled 7,2M$. I understand that the bad results for Q1 of this year is a setback, but with 14M$ in the bank at the end of 2020, we have absolutely no need for an URGENT private placement before the imminent release of the PEA. I suspect something is brewing, that will require a massive outpour of cash in a very short term. Like the conclusion of a M&A, or an important upgrade to their mill to boost production to make up for the « lost » ounces in Q1, and to accomodate the ore from their (hopefully great) NFLD discoveries ...
I suspect (hope) we will soon be able to see more clearly.
Grumpy