Lion One Metals Ltd V.LIO

New Press Release - Lion One Announces Upsize of Brokered Private Placement to $10 Million

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATESNORTH VANCOUVER, British Columbia, July 19, 2024 (GLOBE NEWSWIRE) -- Lion One Metals Limited (TSX-V: LIO) (OTCQX...read article.

[Puma1back]

Never good news to get hit like this but looking at a positive in this mess, it is very interesting that in less than a day they dropped the 15% over allotment and doubled it to an effective 30% over allotment. This is what they should have done in February- let's hope the CFO was generous with the cash flows when he held his hand out for $7.5 million and instead gets $10 million. Making

[QualityTest]

Unreal dilution.  We'll be sub 50 cents for the rest of the year. 

[Puma1back]

  not if we demonstrate cash flow positive results from mining gold   

[QualityTest]

Maybe Q3 numbers will provide a floor but I don't know how market could trust this co. to not do additional raises if the SP ever got material upwards traction.