Replies to post #42500 on ~*~Mining and Metals Du Jour~*~

[basserdan]

<<<Why would I voluntarily vote to dilute my shares for nothing in return, when retail ALWAYS comes last and more times then not, are the ones that get the shaft.>>>

Well... these are intended as Treasury shares.

For one thing, without additional shares in their treasury, CD, as stated in their PR, they won't be able to properly fund future development (drilling, etc) at their Sierra Mojada resource (AG/ZN) in Mexico.

From SVBL's PR:

Authorized Share Increase Proposal

By increasing the number of authorized shares of Silver Bull common stock now, the Company will be able to act in a timely manner when the need to raise equity capital arises or when the Company’s board of directors believes it is in the best interests of the Company and shareholders to take action, without the delay and expense that would be required at that time to obtain shareholder approval to increase the authorized shares. Business purposes for which the Company could seek to raise additional capital include furthering the development of the Sierra Mojada project in Mexico. Virtually all junior exploration companies like the Company remain as viable companies and conduct their mineral exploration activities by raising funds by issuing shares from time to time. In the absence of an affirmative vote to increase the number of authorized shares of Silver Bull common stock, the Company will have an insufficient number of authorized shares to raise funds to fund general corporate overhead or cover the costs associated with maintaining its interests in the Sierra Mojada project in Mexico.


<<<Retails vote doesn't matter anyways, if the company and board want something, it will invariably be passed.>>>

Not necessarily, CD, it is my understanding that in matters that encompass increasing the number of authorized shares, Silver Bull, a Canadian company who's shares also trade in the USA, is required by the SEC to garner a positive vote by more than 50% of Silver Bull shareholders before such shares can be added to their treasury.

They will be busy counting shareholder votes for their April 12th AGM in Toronto.