My guess (and hope) is that it is for a smaller amount to cover the expenses associated with mining lease and contract acquisition in the short term with actual project financing arranged on a debt basis rather than further equity. Hence around 7 to 10m rather 40m.
Obviously still dilution involved unfortunately and I also purchased shares at various levels including around the 45/50 cent levels going back over the last 18 months or so.
At what price who knows but I doubt very much if it is at any sort of premium to current price and would actually more likely to be at a discount based on the dumping.
AVM raised capital recently at approx $1.15 cad and price actually got a boost with current trading around $1.40 or so.
TGS Price at posting:
13.5¢ Sentiment: None Disclosure: Held
