what I don't understand premal is that there has already been the majority of the dilution already places, some 15m. It doesn't matter whether the final 1.4m gets placed or not in terms of dilution. What matters now is how much gold they can start producing and what shape the processing plant is in.
I'm back in, in the belief that this is close to the low and looking for substantial upside in the announcement this week with the gold pour.
When I look around at other small cap gold plays, they are a long way from production, huge shares on issue and no money in the bank. You have to admit that if they can start delivering gold these guys could do extremely well. The dilution is unfortunate, but have a look around at the other plays and I think they look pretty good.
That being said I have tight stop losses on this, but hope they don't get hit. Next few days will be interesting
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