RE:A proposal for the newly raised $6MCopperAndGold ---
totally agree--- i pretty much begged Paul/Sandy to do this previously....telling them for example, $20M cash in the bank drives $20M market cap....but using that to buy back $1M of shares a day for 20 consecutive days i can guarantee you does a factor of X times $20M incresae in market cap. What is X is anyone's guess, 2, 3, 4, 5 ???
Regardless, i agree..more cash on hand results in only one thing...spending it!!! Rest assured....it seems like these types of companies are much like Gov't. I got cash...I'm going to spend it. On drilling on top of drilling. On stock options/grants. On holiday parties. On ???? I have no idea...but point being it's not necessarily always the best option to increase market cap.
What i hope is that as negotiations for a buy out occur...we don't have too much cash on hand that could have been used much more efficiently to drive MARKET CAP in the negotiation process.
here's what Sandy told me when i suggested something other than cash in the bank!
"In conversations with Paul on our cash position, we are entering the permitting phase and a good portion of our current cash position is budgeted for this work. With unfavourable markets we would not use cash to buy shares unless we were 100% confident in outcome. The board and management continually review strategies for increasing valuation.
"