This isn’t great news..
In a very basic nutshell..
This company wants to acquire another company with none of its own capital.. not only does this mean a million dollar capital raise (more dilution) but there is a prerequisite for shareholder approval of a consolidation of current shares outstanding at a 10:1 ratio (even further dilution) plus the other additional shares and royalties to be included as part of the deal..
Its all in the announcement yesterday..
All this company does is explore, tell us how good the inferred deposits are, then continue exploring.. There are no plans in the foreseeable future to extract any ore out of the ground which would provide a revenue stream..
Pretty much current shareholders are getting royally boned and I wouldn’t even begin to understand who would want to pony up another million bucks for another acquisition to, and let’s face it, only be explored..
This isn’t great news..In a very basic nutshell..This company...
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