joke? maybe.
give investors a week to think about it and the uncertainties and difficulties of doing business in africa could throw cold water on the sp and it could be back in the low teens. think about it, that sundance iron ore deposit is not in production yet - 10+ years later.
having a great resource is one thing, but there are many great resources in africa, many are well known, well funded, and still sitting in the ground because of a variety of country risks.
not trying to be a wet blanket, but there are many hurdles to jump before the full value of cay is realised and those hurdles will require a good fist full of $$, a raise now while the iron is hot can only be a good thing. i'm pretty sure we have all seen cases where the opposite was true - waiting for the sp to rise to do a cr only to see it go backward and raise at a lower level. we don't live in a perfect world, so management have to make the best call they can with the best information they have.
@Hazza1 would you take a placement at 24c?
