The beauty of the financing announcement is that Bendall guarantees the full subscription, therefore the full $9+ million to get the drilling going. By guaranteeing to buy the remainder of shares not bought, he may not have to buy any, because investors will know that the offering will sell out and not hesitate to buy all they can. I know I will. He doesn't even need financing because Perception is Everything!
I think it is genius of leadership.
'But when I said that nothing had been done I erred in one important matter. We had definitely committed ourselves and were halfway out of our ruts. We had put down our passage money--booked a sailing to Bombay. This may sound too simple, but is great in consequence. Until one is committed, there is hesitancy, the chance to draw back, always ineffectiveness. Concerning all acts of initiative (and creation), there is one elementary truth the ignorance of which kills countless ideas and splendid plans: that the moment one definitely commits oneself, the providence moves too. A whole stream of events issues from the decision, raising in one's favor all manner of unforeseen incidents, meetings and material assistance, which no man could have dreamt would have come his way. I learned a deep respect for one of Goethe's couplets:
Whatever you can do or dream you can, begin it.
Boldness has genius, power and magic in it!'
by W. H. Murray in The Scottish Himalaya Expedition, 1951.
Pura Vida! Good Hunting Monday!
