Poor Vommy. PZG, with absolutely nothing coming out of the ground, just sold for about 90 cents per share. You do the math on what ANV is worth. Only problem I see is that the big boys don't have the cash/cojones to do a deal.
IMO, the $21MM is the approach to funding short-term cash needs. As they spend down the $$, they'll issue another 20MM new shares every quarter (or month?) to cover expenses ... at least until JV, buy-out, or BK.
I bought @$2.35 all the way down to .89. I'm out. Sold this am on the news of reregistration of shelf offering and gold turning over. Will look to get back in when this blows over and gold shows some kahunas.
I scanned it. If I'm reading this correctly, they have not issued $250MM worth of stock/preferred/debt securities yet. This filing allows them to do it whenever they want at the whatever the market price is at the time.
I'd like to see details on what is being offered .... assuming stock and warrants. Preferred? not likely but ...
No. A secondary is when the company issues new shares. Given they are roughly 500MM in debt, they would need to issue 400MM new shares at $1 to cover most of that debt. That would take the share count 110MM to 510MM. Massive dilution.
Incredible timing on the part of CNBC .... jumped on the "Gold is doomed" bandwagon almost at the low.
Goog analysis though ... however ... they failed to mention that camels eat their vomit. So, clearly we're seeing that happen. Huge, forceful downward trajectory splatting all over the floor. Then, the slow rise from the floor back to the stomach. Yup, looks like gold is on the way up.
LOL. I agree. I fell too far to fast. We're seven days from the low. Seven days before the low it was trading around $2.20. Plenty of room to run.