They are doing SPP only because no one in the right mind would finance them.
As I posted on the LCY thread last week, I had a meeting with a friend who raises money for mining Co's. He said that there is no way that he could raise anything in the next 3 mths unless it's at a massive discount.
This is why the management went for SPP.
Sorry but there is no way they will raise $5M. That's another 500,000,000 shares extra and on top of the already 1,700,000,000 or so shares on issue.
I think that they were hoping that LCY/NMDC will jump on and take up a good size allocation.
Fat chance!
Not at 1c if LCY's management is smart.
I doubt it very much that the Indians will want to pay anything at all right now. They will wait until HAW's on her knees before buying the rest of it out.
I wish you guys all the best as I hate seeing people lose money but my prediction is for 0.6c-0.7c within the next few days.
HAW Price at posting:
22.0¢ Sentiment: Sell Disclosure: Not Held
