OTCPK:GWAXF - Post by User
Post by
Tim2Agamion Jun 09, 2023 9:40am
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Post# 35488260
Burning Aspirations
Burning AspirationsHoly smoke indeed MW ... I thought you were about to pass the news that the camp was caught up in an Ontario wildfire. Instead, it's just a reflection on the unquenchable equity firesale that defies liquidation or rainmakers.
As is generally accepted. the underlying share price of a Flow Through Share, when the tax benefits are stripped out, is about 20% below the pricing,
True to form the offering at .18 suggested the underlying "market value" was discounted to about 15 cents. Now with the FT pricing adjusted to .14. the underlying "market value", after the tax benefits are stripped out, is, as you suggest, about 10.5 or 11 cents where it is, more or less, now; 10 cents on a bad day (although that's still good for those who have the 8 cent offering and want to liquidate the underlying shares and run with the warrants)
The other holy smoke signal was the wet blanket on the hot coals of future outlook. The attached warrants once exercisable at .24 in two years -- giving some idea of the bait offered as to what a participant in the FT share offering can expect, in order to to be "in the green" -- is now dampened to only 20 cents two years out.
Well, your 18 cent-ers may be testing your patience even more.