You do understand that a Market Cap of a stock, overvalued or undervalued, 95% of the time not relevant at all like your comment illustrates?
The VWAP ( Volume weighted average price ) is $0.017 cents.
Meaning the raise was complete with a 30% discount to the trading price.
Funds and Sophisticated Investors who are existing and imperative, would already be diluted further so in a non operational mine and a micro cap stock, 30% discount is not "outrageous whatsoever".
Sounds like @Oldgoldminer1 and myself are on the same page again for the 2nd time in our lives.
6% drop in share price after a raise in this financial environment was rather successful outcome to be honest, I would have been expecting a drop of around 15% after the raise to be non objective.
I would challenge that there is no demand out there, not sure how you came to that analysis.
Best to sit tight see how the next 8 weeks ago with this "financing".
If that goes ahead and they start mining, I estimate in realty 12 months before they are producing regular revenue as they are going to need a stockpile built to provide earnings guidance and forecasts.
Seen some comments we are producing in 3 months.
I don't think you will see Quarterly Activity Updates with projections on gold production till 2025.
Waiting game now gentlemen
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