RE:40% Hair Cut this week, or next MondayArgonaut has to raise 200M in this market.
The only way they can get away from a large equity raise is to shut down completion of Magino.
Dan had been preaching they were going to try to avoid a huge equity raise. How did that work out? I assume he knew there was no way but have huge dilution or shut down. Why would your invesor relations VP sell his stock at the bottom? How is he ever going to convince any fund or even private investor to buy shares.
The management team did a horrible job. I personally think they should have left the old CEO things would have ended better.