"Management financed the company at some pretty high prices (5.25-6) and believe it is a good buy at these levels. If you don't believe that, you should look for another company to invest in."
Management financed the company?? How so? I recall a Dundee PP at those levels.
Inspiration Mining Corporation Closes $30 Million Private Placement
Friday, 6 Jul 2007 08:30am EDT
Inspiration Mining Corporation announced that it has completed a previously announced private placement led by Dundee Securities Corporation raising a total of $30,075,000. The Company has sold 3,000,000 flow-through common shares at $6.00 per flow-through share, 1,865,000 brokered units and 435,000 non-brokered units at $5.25 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole Warrant will entitle the holder to acquire one additional common share (a "Warrant Share") of Corporation at an exercise price of $6.50 for a period of 18 months from the date of issuance.
I believe its a good buy at these levels too, if they have to acquire up to 10% of the shares in the float, I would prefer they do it when it's cheap. Later at 2 or 3 or 4 bucks...no thanks.
So tell them to start buying ( aka follow thru)
