Great Bear Resources Ltd. GTBAF

A strategic move no doubt, we could probably use an extra

[Goaweigh]

$ 10 Mill which would mean that we wouldn't need to pressure the warrant holders to exercise once those funds were needed. Many of the warrant holders are either insiders or friends so obviously they don't want to exercise any sooner than absolutely necessary, like the expiry date for instance.
So that may justify $ 10 mill but the remaining $ 20 is really an insurance policy. 
Firstly I expect all of this money was provided by a strategic investor or group, maybe the very same people who have been buying all the prior flow throughs. They are averaging up as the play is derisked and will work with Chris to ensure we get the best deal possible when the time comes. 
Remember Peter Brown built Canaccord Genuity and I have no doubt his associates, other guys who have done very well in this space are participating in these financings.
Warke, Beaty, etc. etc. I would be more surprised if they weren't involved than if they were. 
Secondly, the next shoe to drop will be the addition of a seasoned Mining Executive, an operations guy, a guy who has built mines. I've seen this movie before. Chris, just the other day and for the first time ever, implied he'd like to take this to production, build a mine. 
The glove has been dropped !
And although we never will build a mine adding someone to the team who knows how creates great optics and adds significant leverage when it comes time to negotiate a deal. 
There is nothing more aggravating to a major mining Co. than a junior who makes a massive discovery, can finance at will and then adds mine building expertice.
It's like enough already, we'll pay you whatever you want just stop building the Co. for God's sake.

[Ivorygull]

Thanks Goaweigh, great insight. I agree with your comment about the mine part. He once half suggested he'd like to, but this last time he really did say he wanted to. I just happened to read some things from Brent Cook last night and he was saying exactly what you have said about having it go towards a mine, way more credibility, and having someone who can do all the math, and know what it

[rborhi]

They have to proceed as if they will build a mine, at least half heartedly.  Theoretically start small in a high grade open pit area, get cashflow going and slowly expand.  The worst case scenario, though highly unlikely, could be that no one comes knocking on the door.  So they do need to start planning for that doorway to some extent. This is what Friedland did at Voisey Bay, as

[Ivorygull]

Thanks rborhi, I just saw your earlier post about needing money for doing the resource calculation. Good point, those aren't cheap.

[Goaweigh]

A recent example of this strategy was orchestrated by Richard Warke of Arizona Mining. It was an exploration play but deep, not without it's idiosyncrasies, certainly not a laydown in many peoples eyes. Warke was hitting on the drilling side and he had made very good money on two prior deals so raising money wasn't the problem but credibility was, at least in my view, so He needed a Pro to

[69chevelleSS]

Ya AZ....thanks for reminding me....sold half Monday Wednesday Friday....and Sunday night got taken over for what was it 48% premium....I got pissed watching everything else going up and AZ was constantly suppressed. I had about 33k shares in 3 accounts if not more...Was my GBR...fack....good lesson.