RE:2023 Yearly StatsDoumdidoum, you did say you didn't see the problems
- Point Rousse: care and maintenance and selling to Maritime Resources for $3M + 24M shares
- $21M Bridge financing with Nebari
- $6.7M Financing (30 cents or 36 cents FT) and $5M (15 cents and 17 cents FT)"
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Point Rousse... they got what they could for it. If it was worth some people on other boards say NFG would have bought it.
The bridge financing "allowed for agressive drilling while keeping dilution to a mininum"
None of that money was used for drilling.
As for keeping dilution to a mininum. they paid some warrants and got a 6 month extension on paying.
The shares were .35 then. They are paying 20% interest. The interest alone is almost $5 million dollars a year. If they had to pay that now.... they would have to dilute the company 50 million shares just to pay the interest. They signed the whole company over as collateral.
the 6.7 million dollar financing. Share price was in the .30's, they had to lower the price to fill it.
The last financing was at .15, and .17 flow through. The flow through shares cost investors .10 at most.
You "don't see anything that justifies the price drop".
How about the only results we seen from the 12 000 m drill program? They were terrible.
Permitting progress? what progress?
Interest costs and management costs and office rents and administration just now raised enough money to last 3 more months unless they have good results
I debate that there are reasons that justify the price drop.