rights offer, page-2

Hi Will
In many ways you are right on a number of levels. Imho the management team is far better than previous management. If you have held since the days of thomas you may agree.
The shareprice has dipped and they are almost out of cash. I absolutely agree with that. They have issued a massive amount of shares to global, and when the rights offer gets taken up they will have 2.1 billion shares.
So why take it up if thats what you choose to do? They are already sitting on 500 mt's of i/o. That is only for two mines, they have nine. This could be the mother of all loads but as it stands 500 mt's is a lot in anyones language.
If they sell the low grade ore and mining pieces that is ten mill in instant cashflow to be dispersed over a number of months. If and when they get the jv's 1.4 cps will be a dream. You are right without a jv they will not reach their full potential. I am of the belief they will. If I could offer you one bit of advice, follow your heart and gut instinct. Hope this helps
Happy sailing
PGamble
P.S Nice post Budd double check your sentiment though. I know where you stand :)