re: Ann: Chalice Gold announces Private Share... "The Company is...

re: Ann: Chalice Gold announces Private Share... "The Company is extremely pleased with the strong level of investor support for the Placement in
the current market environment."

They fluffed it. 30c per new share when the two previous raisings were done at 42c when gold prices were much lower; and when in recent presentations they've alluded that Chalice was undervalued compared to peers on 12/5/11 (CHN trading at 40-45c) and previously on 29/11/10 (CHN trading at 60-70c). Does this now mean that the Eritrean government will acquire the additional 30% stake at 30c per share? But hey the company is not just pleased, they are "Extremely" so. And hey it just wasn't investor support, but a "Strong" level of support. What a weak bunch of twits, fluffers, betrayors, et cetera.


Talk about duping shareholders... again what was the point of a listing on the TSX? Some sort of mention of a change in plans was in order in the quarterly report, given that investor support in Canada was non-existent.

http://www.miningweekly.com/article/chalice-to-raise-equity-in-toronto-2011-03-09

"9th March 2011
TORONTO (miningweekly.com) ? Australia-based Chalice Gold aims to raise up to C$15-million from selling shares in Toronto in the next two months to fund its Eritrean Zara project, MD Doug Jones said on Tuesday.

In an interview, he said that the company would then embark on an additional equity financing to pay for the construction of the project, once it had agreed with Eritrea how much the government would pay for a 30% stake in the mine.

?We?re hoping that we can get this done in the next four to six weeks,? he told Mining Weekly Online.

The amount of money Chalice would raise in the second share sale depends what the company agreed with the government was fair value for the 30% stake."