I really don't want to keep rehashing all my prior statements, so maybe this is the last one for the day. I will try to cover all my thoughts so far today.
My belief is that the management team did not want to roll the dice (as that is what any mining operation is....a gamble) on the mining operation, but thought a better risk for the shareholders was the oil and gas. That can be spread over many properties with minimal expenses on each. My expectation is that they will use the revenue from these wells to build an asset base that will allow them to try to develop the mining property without risking the entire store.
They increased the authorized shares to allow them to acquire more wells. Of the increase of 650M in the authorized, only 250M has been used so far. We have yet to see what they acquired with those shares. Let's wait and see. I would have more concern if I saw the use of all the 650M additional being used right away.
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