I think those shares are already issued today, if not, today's buyers won't step up if they know many new shares are to be dumped tomorrow. Like some of us calculated, someone bought tens of millions shares today. Those people are rarely gamblers or dumb. My suggestion is to just follow the smart money.
Shares from 3B will only piss off the market if the news hit the market by surprise. However for this well anticipated 3B, the market should have already factored this in as the market is forward thinking as Eric pointed out. To be honest, I am glad the company handled this 3B in such a professional way. Good execution IMO.
Some other people also pointed out 35mil escrow shares in March. I don't think the market will even raise the eye brows for that as @ current Vol, those shares should be cleaned up in like 30mins
Plus the market should have done the market cap calculation in a fully diluted way which includes the escrow shares already. As BGS's case, SP won't be impacted at all.
I had a great opportunity to have a small talk with the CEO today. He is very nice guy & he said he almost spent ALL his own money when he vended this project into this Co. However due to lack to experience, he picked a Co which doesn't have a really good history. Now he is focusing on building a mining company which generates FCF ASAP. As many people know this is not a fancy dream whereas if we are lucky, the T2 placement shares are possibly the last one in a long long time ! He is glad the company is heading into the right direction and the market gets it.
Again, find me another mining company which might have positive cash flows near term valued @ our pissy little cap.
Looking forward to tomorrow. Expecting perhaps a small weakness from inexperienced investors concerned about 3B and SP keeps climbing after a small pause. If anyone wants to buy a ticket before the train leaves the station, tomorrow morning might be the last chance IMO.
Good luck guys ~
