ORACLE MINING CORP V.OMN

Someone please explain this to me

[petergoldmann]

I am confused and having a hard time to understand the last news release and the release before that. I thought they are raising 10 MM in equity, 10MM in NSR, and 15MM for the offtake agreement, coming to a total of 35MM. 

So where are the 20MM in equity suddenly comming from. That would mean they would have 55 MM in total?Someone please explain.

Thanks

P.

[ndiamond]

I believe the $10 million equity that Red Kite is buying is included in the $20 million prospectus offering.   So that means the $ being raised is the potential up to $35 million from Red Kite and a further up to $10 million equity under the prospectus offering.

[jojo57]

Iam one of the earlier suckers in this play, and it's sad how this management team has done very little for it's share holders. This last offering should prove that to anyone having any doubts. This going into production does not mean a thing for share holders, for some break even is doubtful with these under the market price offerings, with all these cheap shares the sp will have a lid on

[petergoldmann]

  Hi Jojo, I understand your frustration but do not worry. They are fully financed as of today and that is the most important thing. Look at other resource companies on the TSX that are begging for funds and are not getting a dime. With Oracle now being funded the road is paved to production. I am confident that they will now allocate some serious funds into promoting the stock. It does not

[jojo57]

Thanks for your reply. I agree it's tough for some to get their financing, but with the project being this close to production you would think they would be able to negotiate a better deal. I hope your right, but in these markets timing is everything. I hope they do something soon to restore some faith.

[Lucentio]

The financing is done, settlement was Nov 20th.