I got the same terms on the earlier PP's late Sep and late
Nov, and was disappointed they could not raise at a higher
price. But the overhang selling held the price and they
wanted to get going on the La Guiterra mine expansion
without waiting further. (An 80 PP with full wt at 90 is
a good deal for this co IMO).
They had to go to Europe for the cash (with some from US)
and should not be too proud of that cashup, but in past they
have been EXTREMELY careful about dilution and hand out
warrants like scrooge.
I have visited with their mine engineer Mike Petracca and
talked to President Jim McDonald recently, and IMO they have
a good 'drill & develop ore' plan to raise the production
back to the Luisman level in a yr or so, and make other
improvements to improve profitability.
They have a first rate geo in Jim and have 3 of 4 successful
drill programs so far and think they know where more ore
shoots might lie.
The main event though would be acquisitions to rapidly
build ounces, and Roulston and Dave Morgan have both
reco'd them and are confident.
I will believe it when it happens. Meanwhile I am watching
for the last of the stock overhang to be taken out (some
encouraging signs last wk, and unfortunately some more
supply).
I think the 70's and 80's was (and still is) a bargain price and I have loaded up on this as a value silver play with
possible company growth kicker.
And yes its Gordon's job to prove, and mining is a new game
but he has had success in the past, just gotta get it done
again somehow.
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