They should have been in a trading halt, as soon as they became aware of any FTF potential reversals, to require to be replaced with Federal. Because management would have figured out, the implications if the option is taken up. That option is labelled a "no brainer", hence you can lock it in the probability stakes of your strategy.
If extending the option period, allows them to consume the remaining state FTF, why is there a 20m hole in the cash tin ? Have they forward paid extra drills ? Because my read of the above posts, that it would not need to be returned, until the Renard option is fully exercised. ?
Q for Webinar. (if they wish to clear the air)
-When did the company first become aware that it would need to do a CR to replace the likely but still forward dated potential unused state FTF ?
- Why didnt the company call a trading halt at that time, to prevent insider trading of its securities, of those who then would anticipate a CR slide in the sp.
- Why is there a 20m hole in the cash tin, and has any state FTF been recalled at this time ? or fast tracked exploration expenditure?
I have a disgust for the treatment of retail at the hands of insider trading by sophs and instos.
This is the first, though even if necessary CR, should have been halted, suspended weeks ago, at higher prices.
At the end of the day, though, it is for the purpose of exercising the renard option, which translates this still to the highest probability, low risk pathway to success mining. And few will be able to be blessed with a 900m capex for a 50m investment, and leave them an outstanding minimal capex pathway of say 200m. You have to keep that in mind for the totality of dilution. Not just this raise that is done at less than optimal pricing that could have been a few weeks earlier.
Its still a winner. But the prize stallion just took a crap in front of its punters in the parade square.
That crap will dry out, and at the end of the race, it wont matter when the winning stakes are delivered.
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