Roundtrip- question on hedgingyou asked what could they do with the money that they have for the failed mine purchase?
How about these:
1. buy back some CBJ shares- lets say 15 to 20 million; or
2. buy a lower tier producer (which is what they will probably do).
I suspect that they will move on the second rather than the first, although if they don't get the share moving, then the Cs and Ds (warrants) will not be worth anything, wont get exercised and the company will not get 10 of million of dollars of no cost financing through the exercise of the warrants. Not to mention that they will also piss-off shareholders who bought the private placement- not you and me but the big boys. Management has never cared for the little guys.
All in all a good bet but disappointing to see that the shares are not trading closer to $5.