Read below from my post a few weeks ago. O/S as of today is 495,214,920! Company has dumped over 123,000,000 shares since March 30. Fluff PR's and dumping shares.
Posted by: binzur
In reply to: irondog who wrote msg# 540 Date:3/30/2007 11:34:35 AM
Post #of 554
"Of the 250,000,000 shares of common stock authorized, as of
January 16, 2007, 239,043,966 shares were outstanding." This is from the 14A filing on 1-29-07.
O/S as of todays call to the TA is 372,143,601. That is over 50% increase in O/S in 6 weeks. I call that dilution!
I don't know if the company is selling these on the market (no 504 or other forms have been filed). My educated guess is they are using the shares to get the mine rehabed and to start mining, which BTW isn't a bad thing. The company has no cash so they have to use shares instead of cash.
I believe they are going to dilute and then look for a R/S some time after the O/S gets close to 900 Million.
JMHO
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