RE:RE:RE:New Press Release - Eagle Plains Provides Update on Expanded Vulcan Drill Program, Announces Flow-through FinancingIt is somewhat of a shock to me too. I was actualy on the phone with IR a few days ago regarding problems that I'm still having with my ER share issuance, and he brought up towards the end in a side discussion about EPL being off of "the financing treadmill" and how they are constantly making the health of their treasury their #1 priority.
With that said, this financing would amount to less than 9 million shares issued maximum on top of an already tight float of 110 million. I get the feeling that they are trying to hail mary it with this Vulcan drill program to try to make something big out of it this year, and perhaps Tim and co. feel it's worth it to pull the trigger on the FT PP to give them just a bit more leverge in the program. In a way, it might be seen as a more conservative way to expand the drill program while still conserving the treasury, depending on ones own outlook.