RE:Who in there right mind would IMO I think this is good news. With the consolidaton the s/p will be .15 cents (if we close at .015) and the private placement is attractive, given that the 2 summer work results have been decent (actually quite positive). If FABL is able to raise the money, the float will still be low heading into drilling season. The uncertainty still surrounds the following:
1. Whether they will be able to raise the $1.5 million (track record with FCO doesn't look good)
2. Permits!
If FABL is able to raise the $1.5 million and we get the permits, the s/p should do very well (hopefully the macroeconomic environment will be good and copper prices stay strong).
I just don't understand why the permits are taking so long! It has been well over a year since they applied and that is of some concern.
Keeping my fingers crossed and still hoping for the best!