" If the PPS increases over the set price then they will earn less than nine million shares. That is what "up to" indicates"
The press release does give that impression but if you read the 8K it is clear that the 9M shares are valued at $5M and are not subject to price changes. The "up to" is because LODE may not opt to utilize all $5M in services and is not obligated to transfer all the shares to ATM.
But I do have a question on the 8K. Given ATM can not sell any share for six months and then can not sell for less than $0.56 per share and given that either ATM or LODE can terminate the agreement at any time, if the agreement is terminated does that release ATM from the restriction to not sell for less than $0.56 per share?
Blues knows what he is talking about when he talks about RBY because he is talking from personal experience. You can find his posts on the old RBY message board under the user names twitter_trader, stevie_b_hawaii, honolulu_trader, and steviehonolulu. (man, he loves him them user names and those are just the ones he owns up to being him, no counting the other aliases he creates)
A couple interesting posts on the RBY board:
If 1.04 prints and breaks down, kiss the baby goodbye. Throw what ever you can to hold
1.08/1.09. My plate is full at this level. If 1.04 prints, I will double down and ride the storm out.
(RBY now trades as RBYCF @0.039)
Or this one entitled Long AAPLTWTR & PYPL on 7/22/2015
AAPL 120.76 in after hours yesterday
TWTR 35.92 today
PYPL 39.16 today
My 3 Amigos
(at least pay pal is holding up)
Apparently blues has not always been the swing trader that he makes himself out to be,
PGLC is still in the exploratory phase while LODE has been in production for three years.
PGLC is working on having something that LODE never had:
"This Pre-Feasibility Study will formalize the work currently being done to move Relief Canyon into production, and is a key step to allow the Company to define reserves at Relief Canyon under Canadian National Instrument 43-101."
If you go to the investors page of their web site and read the LODE_Overview_March_1_2016w.pdf you'll find a road map of their plans for the next two years on page 28.
They have "Complete Lucerne Feasibility & Expansion Plan" boxed out for early 2017 so I assume they intend to start mining in mid 2017 and should see gold pour in late 2017.
They also box out "Complete Dayton Permitting & Commission Dayton Mine" in late 2017.
So instead of losing an estimated .03 per share they lost .02 per share. Question is did they beat the estimate because they had more revenue than expected or because of diluting the number of out standing shares?