posted on
Nov 16, 2011 06:58PM
Rago just pointed out some reasons about timing. I want to know their objective with the money. The stated goal, not just a general assignment for Quebec exploration. How much is designated towards the Lac Lamalee 43-101? Will more dilution be needed for a realistic respectable program? I don't mind the dilution if it gets a respectable 43-101. That will really increase our cap and our leveraging for Fermont consolidation. But if it's not enough, then they should have waited despite Rago said reasons. Also if timing of financing was know ahead of time, then being prepared ahead of time would include releasing Magpie assays without vanadium before financing to result in less dilution or more cash. Also, it is incredibly insensitive to release a news release that dilutes our company when you know we are aching for a catalyst news release. At the very least, he should have included quotes from the buyers about the reasons they want to be part of Fancamp. Plus the
NR didnt button itself up with a total outstanding shares comment.
As I mentioned, Smith strains the relationships between long shareholders and new ones we bring in. This one news release cost me a day of talking to investors to not sell Fancamp.
He needs to release Magpie news releases this week- and not Friday 5:30pm. I don't consider that part of a work week.