They need capital for NJMC & develop rare earth REE in central Idaho. The senior exchange they mentioned could be the top tier of OTC - which is OTCQX. Which they require for 90 consecutive days the stock price at $1.00 or higher - amongst other conditions. They also do not allow stock promoters at that level. The difference is there is no market order executions such as on AMEX, NYSE, NAS. The OTCQX broker dealers instead accumulate shares and sell/buy between each other in their OWN network- through an OTC LINK. Currently their considered a business venture with the OTCQB.
I have been here for many many years and know firsthand the local area where mine is located.
I would like to hear more specific information from the company in a form of a press release indicating which specific exchange they are discussing and also what exchange will spin off be on as well plus if we’re getting shares in a potential spin off - how many are we getting. I ALSO would like to know including if there is ANY reverse spilt in their plans to achieve that $1.00 minimum stock price to qualify. If not - what’s their plans release PR’s to boost and capture attention and market interest? I feel like while it is appreciated they discussed in a PR- however it would be ideal if they provided a clearer understanding to shareholders. If they are doing a reverse split or If they choose to stay quiet on that - then after being a long time shareholder —I’ll likely sell off. I’m watching very closely. If it looks their going down that road with a RS- I’m out.
I do not want to see dilution either that will hurt shareholders so I’m very keen on seeing how they go about securing financing as well and any term sheet they sign. Reverse splits usually have a tendency to fall after they occur, usually like the Titanic. I’ll move to protect my own investment capital if that occurs, by jettisoning it.
Today the PPS showed a little weakness and we’ll see if it declines back down to .20’s - this company usually IMO doesn’t move too fast, so hard to tell how long this will all take. Right now in the .30’s I’m possibly selling some off take some profit. I saw the options sold as well that were set up and filed.
I am up as well - double +.
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