RE:RE:RE:RE:RE:RE:Unloaded this at .75 and .74 this morning. Freddie, you know better than some of what you are spouting, I agree though that the quick closing of the book on the raise is a gr8 signal, $9M is 24 hrs with no warrants and a small discount? yeah baby as you used to say...
I would be surprised if those that just bellied up the dough weren't aware of the Cab West holes, regardless of what Pfaff said, it would seem to be an imprudent investing strategy to drop that kind of money on a dud... My guess is that know ones knows at present (see below)
It would have been nice to have the raise done above a buck but one needs to take the cheque sometimes when its offered and not get too cute. For perspective: if the raise was done at $1.10 for instance (while trading at $1.25) there would have been approx 8.1M shares issued vs the 12.9M shares at $0.70. When viewed relative to our 181.5M F/D shares outstanding it seems a marginal increase in shares (4.8M shares or 2.5% of 194.4M shares) for $9M now without needing to continue to fight the cheap warrant execution overhang.
Finally, you also know that the Company cannot release news during a capital raise until close or they would have IIROC up their butt in a serious way. So I think we all need to wait a bit to hear what the bit found out west. Maybe they get approval to close it early? Just my hope/opinion...