TGB filed preliminary shelf offering prospectus for up to $300million. Total capex is currently only about $850million so shelf offering, if executed down the road, would represent huge dilution.
That said, this may also be a good indicator that they will get approval on their major new project (over objections of the indigenous).
Honestly, I'm not sure how to interpret the prospectus or its intent, but TGB is up 4% on the news in any case.
Back fm 2wks in Montana, Wyoming, and Idaho.
Double rainbow & cat-tails at Nine Pipes National Bird Sanctuary.