"CNQ advises that it has raised $340,725.00 under the SPP"
So now we know uptake was a pitiful 5,7% of what was on offer even though the offer period had been extended. Shareholders clearly signaled "lack of confidence!". No wonder given the company's awful track record.
Darryle, you wrote:
"I think this falls short of the funds the SPP expected to raise. However I believe this is excellent news."
I must say I have the impression you deem every single piece of news that CNQ releases excellent, even if it was declaring bankruptcy.
"The Mitsubishi injection of funds did not dilute the share base at ALL"
As far as I can see there is no injection of funds from Mitsubishi yet. "The MOU outlines MCU's *INTENTION* to provide funding ..." "The MOU with MCU covers both POTENTIAL funding and technical collaboration..." Rest assured: Should Mitsubishi fund the hard rock project they won't do it for free! They will get something in return, that's for sure.
CNQ Price at posting:
7.3¢ Sentiment: Sell Disclosure: Held
