RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:No choiceIt's important that you remember the history with Marlin. the mine didn't work. It happens, and LOTS of lessons were learned from that. We fired the CEO for cause (I took over as interim in 2015, and Jesse was brought in to stabilize things). So the vast majority of the post 2015 capital raises were to keep the lights on so that we could eventually facilitate the merger with GRR. In addition, those capital raises were in the form of debt which was extinguished at the time of merger in return for the commonwealth (Arizona) asset at a valuation far exceeding the assets worth. Shareholders didn't directly get diluted (post 2015 at least, as clearly the pre 2015 construction capital was not money well spent). Wexford kept the company alive for the benefit of shareholders. Full stop.
The actual merger with GRR was probably the most accretive deal (on a % basis, at least) that I can think of in mining. What Marlin gave up (55% of trinidad) for what it gained (45% of San albino) was a no brainer, and if we could do something similar here, we'd do it in a heart beat.