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10:46
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Originally posted by triage
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I find the decision to raise another A$34m exclusively for drilling at this point in time curious. At the Sydney presentation on 14 September Chris Evans said that on that day Winsome had A$42m in the kitty, that the company was "well financed", that the release of the maiden MRE in January / February next year would put the Adina project among the top 5 ore bodies in Quebec and Winsome would transform from a company currently with a market cap of $300m into one with a market cap of over $1b next year. His words. Clearly CE was suggesting that he expects the WR1 share price to treble from its current price after the release of the maiden MRE. So why raise now? Why not just wait until next year to raise at a much higher price?
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Acquisition of Power Metal would trigger the next round of management freebies…Certainly could be the reason they would smash the rest of us with this abysmal raise.
(20min delay)