This is a very good thing. As a very long term shareholder, I agree with some comments above regarding management (poor) and lithium (good market). Considering everything, we are lucky to be where we are.
But this size raise and the ease at which it was done (I hear 3-5x oversubscribed) is a very good thing. We were at $1.30 not that long ago. For the first time ever, we can have confidence that this is the last raise ORE will ever have to do in relationship to Olaroz. This is the raise that should have been done earlier. There are no excuses for the ORE share price now (or in a few weeks post tranche 2).
If ORE is as good as we think, she will trade well during 2016. My parting word of caution, as someone who has far too much of their net wealth in a single lithium producer called ORE, is that management really need to sort themselves out. You've got the cash. You've got the operational plant. You've got the market. You've got a new Government. Now make it all work.
The market has been very forgiving to an exec team that has failed on many metrics to date.
To $3 and beyond.
ORE Price at posting:
$2.33 Sentiment: Buy Disclosure: Held
