RE:RE:RE:RE:New Press Release - WESTERN COPPER AND GOLD ANNOUNCES COMPLETION OF C$5 MILLION FINANCING WITH RIO TINTOi was tarred and feathered by many on this board suggesting we do something with excess cash to drive market cap. My suggestion was to buy something like $1M CAD of stock on open market every day for the next 30 days!
I mean , if we only wanted to raise $30M to get cash position to $50M but we now have $80M...in theory we didn't want or need that excess top off nor the Rio top off.
I just wish we could do an experiment ---- and see what would result if WRN bought $1M for the next 30 days on the open market. I mean --- that would still leave us with like $50M+ cash.
Can you imagine what our share price would be? I can imagine an easy double or more...way better than $0.2 a share dividend...that's for sure.
I proposed as such to Sandeep but his feedback was that the market would catch on to and might play games....and that you really have to have specific reason for the raise. i said "yeah....but we didn't want to raise like $40+M plus the Rio $5M....."