2110,
I too am sceptical, but have absolutely no idea what this is worth.
I never like to trust the market, nor management, for valuation. However as the later were prepared to issue quite a bit more equity than immediately necessary at 5 cps I have decided to reduce at 14, being nearly three times that. Sure they had to offer a decent discount, and sure it was prudent to raise a bit more than immediately needed after a decent so rise, but if management thought fair value was 14 cps would they have raised so much at 5?
Also I am an accidental traveller here, having been in for copper in South America, have no geological judgement and don't wish to invest in gold in Africa. In short my situation differs greatly from most here. Taking a third of mine off the table at 14 today seemed right for me as I simply want to sell, but not too soon or too cheap!
Thinking about the other two thirds.
EL
Expand
