Post by
rockport1 on Apr 21, 2022 6:40pm
Sitka on Sale!
For those folks without full positions in Sitka, this is a great opportunity to load up. With a market cap around C$15 million and cashed up for this years exploration, if you can hold long enough, it's hard to lose money at these prices.
There is the possibility of short term weakness as 16.5 million shares become free floating next week. If so, any further weakness is a pretty awesome gift. Cheers
Comment by
Westcoastwalker on Apr 21, 2022 9:15pm
That pp was priced in at .17 so dumping after the hold would be a significant loss. Hard to say if that is in strong hands or not must have been a fund or broker as it came quickly. All that aside if the results get posted and are stellar bye bye shares at these levels. Feeling lucky?
Comment by
rockport1 on Apr 22, 2022 1:42pm
I agree that the PP purchasers would have to sell at a loss. However, because it was a flow through placement, profits and losses are much more complex. Tax considerations can be the major driver, in which case, just participating in the placement has achieved much of the objective. Investors can sell at a loss, and still be be better off after the tax implications factor in.
Comment by
givemeabreak1 on Apr 24, 2022 12:29am
Break even of the .17 flow through is about .125 cents. That said, you still hold free warrants!
Comment by
KozmoD on Apr 24, 2022 2:20am
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Comment by
rockport1 on Apr 27, 2022 5:14pm
Looks like those free floating shares have come as markets fall; many selling anything to cover margin calls, etc. Came a little quicker and deeper than I was expecting. Might be prudent to wait it out another few days or few weeks. In the medium to long term, this is a pretty big gift.