Apparently (your question being very well timed!), they need another 4 million to proceed! Can't say i'm thrilled with the exercise price of the warrants. At 4 million, we are looking at approximately 15 million new shares, which will dilute have some effect with respect to diluting the existing share value.
This has got to be a reasoned gamble with the end view being an extension of the gold bearing portions of the property.
I would not mind knowing what part of the 4 million will be used for ongoing exploration and development, and what amount will be earmarked for general and administrative expenses".
I am not thrilled with the optics of our apparently declining share price coupled with Sprott getting in at a 50% discount to the current market.
We will have to see where this goes...
crazydik
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V.P. Exploration Dicusscus Current 8000 m Drill Program
