Lab Mgt Sold Out It's rediculous that this company sold Kingsway for 20 million. Prime location in the middle of New Found's discoveries. Lab had all the leverage in the deal and sold for peanuts. They probably invested 20 million in drilling to date which would mean Lab gave the company to New Found for free. Great executive decision there. No wonder Lab doesn't have any investor relations posted on their website. CEO indicated that they were running out of cash to do drilling. If thats the case shut down the Kingsway operation and wait out New Found out while you focus on Hopedale. Lab didn't gain any cash flow doing a stock deal that is tied up until expected close of October with the requirement to hold the shares an additional 4 months. In addition by the time this deal closes New Found shareswill be 3X diluting the Lab shares even more. There is no shareholder independence between the companies here and the strings are being pulled by common major shareholders.
Word of warning if you are holders of Exploits Discovery. They are in a similar situation and will live up to their name and be "exploited" by New Found. They also have the cross contamination of shareholders who will be focused on New Founds success and not that of Exploits.