Simple calculation, with the 15% O/L and the 5% fee , would be under 10 million more shares roughly . Thats under 6% dilution , quite insignificant. A really good sign that demand is there at a time there are lots of other attractive places to invest. So the rumours were generally there I assume to assure the issue went smoothly. Just good business at this point. Hopefully it is the insiders loading up, it takes really bullish insiders to come back for third and fourth helpings. Looks like bad news in Timmins is good news for RoF re public support. And surprise, surprise (to me anyway) that unlike Australia, our bureaucrats are NOT pushing for elevated mining taxes or corp taxes. Good, better and great , first time in a year I am liking the broader picture somewhat. All we need is to keep growing the deposit/

Timing Caveat: BoC is seriously scaring away a lot of mining and manufacturing people by declaring they won't wait for US to lead on rate hikes. That will put very nasty drag on majors investing here if it happens. Can't find any positive spin for this one , just cost and risk.

BTW, I still think CLF will at some point , well down the road , want all the major CR interests , if they can afford it. All we will need at some point are two or more credible bidders.Think quite long term , and leveraged primarily on drilling success and continued growing world commodity demand. There will be more PP's ahead . six months or so out. The majors in base metals are looking only for short to mid-term paybacks with minimal capex. Man would it be nice if we hit some self-standing PGM's along the line. Still early days but good drill results are critical to sp expansion. If you are over 60 , this might be a poor choice for a retirement investment, otherwise a lot of fun as the drilling stakes ramp up.