“I assume you were contacted about this c/r and were able to participate. Anything you can share with us?”
I was asked and did take part in this CR as I wanted to maintain my percentage holding or slightly increase it if possible. I feel this is a positive C R for all shareholders as it was at only around a 10% discount to the 20 day VWAP and there was no brokerage or underwriting fees, all the money raised went straight into the till.
Also the company has obtained these working funds with a relatively low number of new shares on issue.
The last time I checked we had 301,449,076 shares on issue, the CR issued another 20,267,857 and the options added another 5,763,400 for a new total of: 327,480,333. I’m not sure just how many more options are currently in the money awaiting conversion; however, if this company can be well advanced towards a commercial reality with less than 400 M share on issue I for one will be most pleased.
This now ensures we can push on with the Tres Estados and Ema projects as soon as the company is granted the required Environmental Licence. In the meantime hopefully the assay method can be developed to a reliable repeatable procedure and we can see the next round of results being processed.
Once the shares are issued and the documentation is completed it will be interesting to see what percentage of these shares are held in the top twenty very strong handed shareholders. My best guess is it could possibly be over 87% / 88%. I also doubt these new issued shares will make it onto the market in the near future.
With the shares tightly held and a well-run and now well-funded management team and hopefully solid confirmation of the previous grades by an accurate repeatable assay method and of course a little luck the next few months could turn out to be most interesting.
By the way whilst you guy’s where talking about it I also nicked that little bargain parcel at 6.6 cents!
Cheers and very best regards: Andy
BBX Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
