real question should be why aren't we off $.35 today. Yesterday's filing (note no announcement) confirmed my worst fears. No sale of gold assets, when they are sold it will be for very little relative to cost, they will have an impairment charge this Q, they will need to raise even more money to finish the project, dilution will be greater than expected. How much worse could it have been?
'If' they should need a bit more financing to get them over the finish line for Phase 1 of the shafty development, maybe they should issue a bit of debt instead. More equity dilution now would be crazy.
I'd rather see an offering to existing shareholders for any debt so that we could buy it pro-rata according to equity holdings.
Equity holders not likely to complain as much from such an offering and might also save on investment banking fees.
I say cut those SOB's out of the loop if at all possible.