Have you noticed how the narrative is already, a matter of hours later..."everyone knew we needed this brand new 100 million dollar raise?"
No, no one expected this spectacular all new 100 million dollar raise. No, no one thought it was required for the gold business (because that's what it is) especially since the last lot of raises were supposed to "ramp up" the gold biz, including an SPP expanded by roughly 100% a matter of weeks ago. The previous raises to that were also out of the blue because the whole damn mine was supposed to be funded by operations with the gaps (if there were any) to be funded by debt.
This is not my imagination, this was in the document outlining the acquisition of Morila. This was what was presented to shareholders by management.
Now, after every brand new ginormous raise for millions upon millions of dollars, the story eventually emerges here that "you know dude, everyone saw this coming, it's clear the mine needed 200 million dollars"
Revisionist rubbish.
If you want to argue that the raise is good long term then fine, maybe you are right. But enough with the total fabrication that this is in any way part of an overall strategy. Management are winging it, addicted to raising. I'm not commenting on future prospects, just the simple reality of what is in the now.
It doesn't bode well for credibility, but if that's not a factor to members here, then yeah of course it will be shrugged off.
FFX Price at posting:
75.5¢ Sentiment: Hold Disclosure: Held
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