CC's comment on GYD
To:Brumell who wrote (6837)
From: Claude Cormier Thursday, Apr 15, 2004 11:01 AM
View Replies (1) / Respond to of 6843
A very interesting project indeed. I had a chance to talk with Marc prefontane who is a very nice guy and understand the potential of La India.
I would just like to see a better capital structure. Already 38 millions shares fully diluted (30M out) with very little cash to drill. The exercise of the 8M options and warrants would give some $1.5M to the treasury, but this can't happen unless the stock goes much higher.
So I am not sure if they will have enough money to drill a few holes this year. But if they do and they hit only one good hole, that should help the stock price and facilitate financing. Otherwise, expensive dilution will have to take place.
What do you think?
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