CNC ppNot too happy with the share price drop either, but, as a company the PP was good timing.
The money raised is in the bank since the "strategic investor" was a no show.
The timing of it all best I can put together, was the possible strategic investor was out before the nickel spike. The PP was in the works before this spikke also as it came out around the day of.
So... CNC sold 10,440,050 common shares @ 3.10 for 32,364,155. Now they are worth 27,770,533 @ 2.67. Thats 4,593,622 more in our bank then if we did a PP today.
Yes, I am not counting any of the flow thru shares to avoid the ...."yeah buts." The flow thru shares are a tax break for the investor, but the cash is still in the bank also at much higher prices than now.
I would like to think I am not a cheerleader, but given the decision to go alone for a while, it was a good PP. I think also with the new higher grades and price of nickel, other possible partners will return.
Im buyimg all the drops. little by little each day.
jmo
RD