Post by
drunk@noon on Mar 21, 2021 1:09pm
best project/worse financing I've seen.
Given the shallow depth and ease of processing the project is great. Not as good as before the pitiful fnaning package which dilluted at least 50% more than your average run of the mill package.
What makes this more maddening is the fool in charge chirpped non stop for the better part of a year about how he has this great project financing package lined up that would minimiz share holder dilution. This is what irritates me. Why he thought is was so great is beyond me. What compounded my irritatino was those on this board who some how thought there would be no dilution whatsover. As it stands beftween the dilution of the converts and the PP you are talking a 50/50 split between equity and debt. It is one thing to destroy shareholder value with such a horrible package, but it quite the other to chirp about how great is was for month after month before the blizzard of dilution took place. Remember the rule of thumb is 1/3 split between debt and equity with futher reduction of equity with a streaming agreement. With such a streaming agreement this should have been finance with only 1/5 of it dilutive equity.
PS I was right about the package requiring dilution unlike those on this board who somehow thought it would be strickly debt.
And I was also right about gold dropping into the 1600's--this when gold was trading at 1850.
-Where are the apologies for those who doubted such insight.
Comment by
Ogopogo007 on Mar 28, 2021 9:01am
Drunk@noon - is this the first Pinocchio you have run into? Ph 2 - Development, according to Brent Cooks SP chart is usualy dead money for investors. Come back when it's 'Golden Runway to first pour"