Re: Liberty Mines Says Previously Announced Resource Estimates Have To Be Redone
posted on
Oct 15, 2008 03:54PM
Producing Mines and "state-of-the-art" Mill
Whaler, from that story, I am more concerned about the final 2 paragraphs:
"Liberty Mines announced on Sept. 29 that it had arranged up to $32 million in financing, comprised to senior secured notes and share purchase warrants. One of the conditions of the financing was receipt of all regulatory approvals.
The offering had been scheduled to close by Oct. 15."
This situation is troubling, and has to undermine confidence in the company and management. I don't like it, even if the result of the study 6 months from now confirms previous figures, we have 6 months now of people being unsure of what is in the ground, and at least 6 months of uncertainty of what LBE announces is true or not.
Adding this on to the economic climate we are in and the low Ni prices is very scary.
I will be holding my breath until the 15th to see if this financing goes through or not.
Fingers crossed,
Bluenoser