RE:So While no one likes financings that contain warrants and or flow-thru shares, for the shennanigans it can cause in the short term, the fact remains...
They will spend $ 70 million expandiing their resource to 6M oz?, 8 M oz?, 10 M oz? by the end of 2022. That will unquestionalby cause a re-rating of the SP over time.
In this case, the price paid (to raise the necessary funds to drill) was FT shares (priced well above todays trading price).
No doubt, some shrewd investors have shorted WM (12.6M at last count up 7M), and will use their new found shares to cover after the 4 month holding period.
Standard operating procedure.
They have to hope that there won't be early & stellar drill results, and a rapid advance in the PoG - which tends to happen after the FED begins a tightening phase (next month) - otherwise they will have left potentially lots of money on the table by shorting.
Me? I don't care. I see little to no downside from here.
Patiently awaiting results from a 70 million $ program - in a highly prospective region near proven mines.
MM