Call me crazy but I'm seriously expecting a 90%+ chance they'll pull this raising off. This is a perfect punt for the gold speculator - send in a cheque to subscribe for some shares, if it doesn't work out your downside is nothing - they'll send you back the check (with interest even, if I' not wrong). If it takes off however ... could attract even more interest on news its finally bogged down the acquisition.
For that reason I'm expecting there to be some "hot" money in this raising in addition to the money buying on fundamentals.
In any case the 12m raising goes towards a real gold asset, not just some exploration dollars, for added comfort.
AMG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
