A right's offering at above market price?
I have been in rights offerings before, and they always were for shares discounted to market price.
Does EXS really expect to sell new shares at a 58% premium to what they are going for on the open market today?
What will it look like when the rights offering fails?
IMO this is a terrible mess and a big mistake on the part of EXS.
Tying a 5-1 rollback with the offering, with the industry history of rollbacks causing significant loss of equity value, and then asking people to pay a premium to loose the money in the rollback?
That it appears there is an attempt to get this done before the latest NI 43-101 needs to be filed also does not give me a warm and fuzzy.
How far will 10 million go in new exploration ? What will be explored? More super long holes at multiple 100k each again, or?
Am I being asked to pay 60% above market, then take a rollback haircut, all in order to fund some plan about which there is and will be zero information provided on which to decide?
What were they thinking ?
Can anyone explain that, explain what I am not seeing ?
