However, the way I see it is as follows; 1. This is the last CR before we start to generate our own funds that will ensure (hopefully) we don't have to do this again.
2. If you look carefully at the main reason we are doing this is so that we can produce more. Seems to me that Bill is clearly confident of a resource upgrade otherwise why bother with more efficient equipment NOW ?
3. Someone posted recently that he has some 46 mil shares (or options) himself. Why would he dilute his own holdings if he was not sure that this was a necessary evil.
4. SI's are not that wise, but do you think Pattersons would underwrite anything they have not done a due dilligence on ? They need to know that they are recommending a sure thing to their client base.
I have to say I am in this "boots and all" and still bought some more at 3,5 c today. All shares are getting hammered today so expect an increase when the general market panic dies down - and it will.
DYOR
Crazy Crazy Crazy
SBL Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held
