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Signal Gold Inc T.SGNL

Alternate Symbol(s):  SGNLF

Signal Gold Inc. is a Canada-based gold development and exploration company. The Company is engaged in advancing the wholly owned Goldboro Project in the Canadian mining jurisdiction of Nova Scotia. The Goldboro Project is an advanced exploration and gold development project located in Guysborough County, Nova Scotia, approximately 175 kilometers northeast of Halifax, comprising an exploration license area of over 27,200 hectares (272 km2). The Project is subject to a positive Feasibility Study which demonstrates an open pit life of mine (LOM) with average gold production of over 100,000 ounces per annum. The Company also operates the Tilt Cove Project, a prospective exploration-stage gold copper project located within the Baie Verte Mining District, Newfoundland, with approximately 15,000 hectares of prospective mineral lands and 35 kilometers of high-potential strike length including the Nugget Pond Horizon, a geological unit that hosts the past producing high-grade Nugget Pond Mine.


TSX:SGNL - Post by User

Comment by Rogg47on Jun 03, 2022 9:53am
154 Views
Post# 34729333

RE:RE:News: Upsize Of The Financing To $6M

RE:RE:News: Upsize Of The Financing To $6M
GrumpyInvestor wrote: I can't believe that I was hoping that Q2 was going to be a game changing quarter. All we have gotten so far are negative press releases published after the markets close.

Now, we learn that the financing is being upsized to $6M, while the cost for FT units is going down to $0,56 instead of $0,65.

All in all, there will be close to 18 million new shares if you count the warrants. That's about 10% dilution for $6M. That won't last very long if things don't turn around for good at Argyle.

Let's hope that we can finally get a spark and start climbing back so we never have to see such a cheap financing ever again.

Yep more dillution again... They did last year PP close to the year low, same this year... Pretty frustrating that bad timing again, ridiculous how a promising story (late 2020, begin of 2021) has turned to be a negative one since then... 

And raising more money could also suggest that Argyle fiasco isn't over?!? 

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