evo is right that SMY seem to be able to get these placements away very easily which bodes well with the standing of its current project with the instos.
However doesnt matter how you see it they are creating more shares and are probably burning cash faster than they expected.
I think they are hungry for more projects but buying one in the current nickel climate without paying too much will be a challenge. Therefore whether value will be added for the new funds raised will be judged down the track when the market sees a deal and judges whether they got value.
On the whole I see the placement as negative as there are more shares about and extra cash that corporately they are going to burn.
acturtle
SMY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
