re: Ann: COMPANY FINANCING UPDATE AND ACQUISI... Well good point Medelm, dilution is never good, but we do get to average down a considerable amount with this RI. I get to knock 33% off my average price for a fairly small outlay. As you've said, the share price has been diluted by 66%, but I would rather a company with cash in hand rather than hope on the success of drills to fund further endeavours.
Having cash in the bank derisks the financial position of the company. There was really no other way to go about it to be honest. We need the cash to drill the wells in 2011. Simple as that.
As a lingering thought, in 2004, AUT was trading at 3cents. 6 years later they are trading at $1.80. I'm not saying GGE will do the same, but it is proof that truly anything can happen in the O&G industry if the cards fall your way.
Ann: COMPANY FINANCING UPDATE AND ACQUISITION OF , page-7
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Last
0.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $12.57M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 5 | 1565500 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 3016706 | 4 |
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