until next shipment inflow..So, I know its small, but another PP for 2 million shares.
I am assuming we are taking what we can get and with the cash coming in from the existing ore can issue survibe longer and still do some site work.
If anyone doesnt know here is how these PP's work.The folks that do these get 1 share and a warrant. In this case, the share is for $.05 and the warrant .08. As soon as they seal the deal, they short the stock until the shares they will be receiving are all basically sold and they then get all their money back at zero cost and now own a free share at .08. This they will let ride.
I would have loved to have financed this last one at $100,000 and get basically two shares if we believe the stock will be higher than $.08 in two years.
So... we will be stuck here a bit until the 2 million shares are eaten up. Maybe 10-20 days.
Of course any new good news or new payments from the ore body might speed this up.
Not really too upset as the offering was small and I trust needed somehow.
JMO
RD