.21 Jul 2011 00:48
Not sure if I understood this correctly, but May 24th they tried to do an issue for C$150M.... That's about £98M!?!
At a discount to the sp at the time would have been pretty much a 50% dilution would it not? Plus the option for ANOTHER 24M shares (apprx)
I can see why this has risen since 10th July, but really people should be very careful here imo. Not wishing to "deramp", but as there is no discussion here I think people should be doing careful research here indeed.
The issue failed for some reason and they are still looking at ways to raise this money. I know they have to raise this in order to pay for the equipment, it's not a matter of choice.
I was getting quite excited about the thought of putting some money in here, but hot damn you'd have to have balls of steel to hope it doesn't involve another major dilution when the market conditions improve!