Cuervo Resources Inc CRVNF

Question?

[Garthk17]

Why did management proceed with the recent $7M plus placement on July 29th when they had lots of cash from the sale of the Saskatchewan properties. Also with price being $7.60 shouldn't the share price soon rise to equal the placement price? Garthk

[rfk67]

It was a flow through financing which has tax implications which in effect reduce the value paid per share. As for why they wanted money well they are buying back shares and I wouldn't be surprised to see an increase in the capex for H2 when the Q2 financials are released really soon. I'm guessing that West Pembina is going better than anyone imagined and that this is why the sharprice