this is a super project and wouldnt be to worried about the...

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21/06/17

12:39

Post #: 25404075
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Originally posted by pintohoo ↑

morning,

"I thought they would have had enough money to get thru to drilling."

oh, there is no way I thought they wouldn't raise before drilling - drilling costs money -

but, I really didn't think they would raise until they got these results out for the samples -

why?

because a. at their current cash burn - there was no urgency - and it is so very easy these days to come up with some great surface sample assays -

because - you can walk the field and use an xrf gun as you go - now, that's not really cheating - it just gives you an express quickie look at what you would find anyway - but, the gun can zoom you in to the better areas easily.

and, it looks great to a market.

Of course - if there was bugger all there - then, you are stuffed - but, on the ground we are talking about ----------- that is very very highly unlikely.

So, I am a bit bemused by the timing of the raise - not so much by the raise itself.

Also - because of the director (own money) buying a few weeks back - and, now the raise -

before sample results and before going to Stage 2 (which may well need the funding - yes, I can see that one) ---

it sort of makes me think - that existing shareholders 'might' get a chance of buying here

?????? - why else would directors have brought in in that cluster?

Personally - I would have just gone for an institutional or sop. investor raise - and, the directors could have taken some of that up with their own money anyway -

but, who knows -------

I guess we shall find out in the days ahead.

Of course - my confusion on the timing (mainly to do withe the probable raise price) - might be unwarranted - who knows - perhaps a deal is done for a raise at a premium (hmmm - laughter all round - but, it does happen - like pigs flying occasionally) - because of the negotiations (said to be underway) for stage 2.

Anyway - we wait ----------- pretty certain this is a good project -- but, we shall see.

have a great day all

Pinto

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this is a super project and wouldnt be to worried about the raise as long as it isnt to big

RTR Price at posting: 3.3¢ Sentiment: Hold Disclosure: Held
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