This CR gave room to some threads with quite some emotion in it....

This CR gave room to some threads with quite some emotion in it. Although understandable, I always try to look at it on rational grounds. My first questions is always: is it strange that a company in the phase of development like BLK, is having a CR. No it is not. It is on a growth path and the one thing you don't want is financing this with debt. So the management did a good job. The growth has been communicated with the shareholders on several occasions. Oke with that out of the way I always look at the development in the share price over the last few months before the CR is announced. There you see a interesting thing. The SP had a low by the end of last year and had a bull run since. So I management see it coming that they need more cash, then announcing a CR after a bull run is wise management. The potential shareholders of course saw the same bull run. It just depends on the negotiation proces with the new shareholders, the accompanying bank and of course BLK what the price of the new shares would be. I was looking for some 70 ct. so the 68 ct. is al little bit low in that context. But in the bigger picture of BLK (a miner growing towards some 200/240 OZ per annum) this is just a detail. From now on the management can focus on the most important part of their job: making sure that they are producing according to plan and that they are able to grow the resource/reserve base so that the LOM will be extended. Of course the POG is also very important but BLK can do little nothing about that (perhaps only a professional hedging program). I have faith in that and bought some more shares today.
The announcement of some directors selling part of their shares in the after sales (I suppose also for 68 ct) for me was handled in a professional way. I am not discussing the fact that they need the cash for private reasons.