General QuestionsHi Everyone,
I've been a long time shareholder of Cantex, as well as a long time reader of this forum. I have appreciated many of the posters here for many years and thank most of you for the valuable information that you have shared.
I will gladly admit that I know extremely little about geology, and so appreciate the insight on this board of those who do. From what I've been able to gather, Cantex obviously has the stuff in the ground. With this being said, someone mentioned that the company would not even need an official report proving additional drill results, as any major looking to acquire would bypass this process in order to get the property at a cheaper price (and avoid competition). I hope that I'm representing the situation accurately?
If this is the case, and it increasingly seems that a deal may be in the works, can anyone explain to me the necessity/purpose of raising more cash by way of additional dilution at this stage? Would a pending deal not suggest that another season of drilling is unnecessary? I'm not trying to be difficult, the question comes honestly.
I have been bitten in the past by Venture stocks and repeated dilution. Is anybody concerned that if a deal is in the works (or potentially so), that the private placement is simply a way for certain individuals to obtain a goodly chunk of the float at a set price, thereby avoiding open market purchases that would drive up the price and benefit the retail crowd?
I feel relatively confident in my recent purchases of this stock (though I wish I'd waited an extra week), so I'm not despairing. I fully believe that in a year's time, I will be happy with my investment. Despite this, does anyone else feel like this is a bit dubious? I will clarify and say that if most of the placement goes to Mr. Fipke, I wouldn't be upset, as it has been his perserverance that's kept this ball rolling. I would more so be concerned if it goes to a whole new class of investors who 'happen' to get in at a set price, not long before a long-awaited deal is finalized.
If anything I've said is inaccurate and I'm on the wrong track, I'm certainly open to critique. I'm happy to be educated.
I guess we'll know more when we find out who got in on the private placement. Any ideas if/when that info will come out?
Thanks all.