I think somethings up & here is why....This current raise with Eight Capital.... It doesn't make sense to me that we would raise money now at $1.90 when we don't even need it. Better to advance the project, let copper rise, let share price rise and raise in a few years with a higer share price (and therefore less dilution), assuming that we would even need to raise at all. We are going to have $80M with alot of dilution.
This deal provides the "consortium" with a bigger position than Rio & Mitsubusi combined. Consider $40M bought deal + 15%. Also consider Sandeep's position of 2M shares + warrants. Let's not forget that Sandeep comes from Eight Capital. Also consider that Eight Capital has been buying large on the open market. Also consider Eight Capital's prior approach to investing with other projects.
Also consider that our average volumes on both the TSX & NYSE for the past month are approximately 5 X the average.
Also consider copper at $4.50 & Gold at $2,400 with both showing no signs of slowing down. Don't know what is happening but I'd bet my bottom dollar that something is up. My advice to Rio right now is that they best get at it or they may lose the opportunity and will just be a major shareholder in a new Copper/Gold company. So much happeing and so fast!