Just under 2M shares at .70 traded Friday. I'm a little surprised at the $25 M financing. By my calculations that is a 15% dilution. No specific program mentioned either.

"The Company plans to use the net proceeds from the Offering for project development, exploration and general corporate purposes."

I thought they had adequate cash to fund the 2010 drill program. Maybe to develop Cove?-but why not say so in the release? General corporate purposes sounds a little too much like wages and bonuses, but maybe I'm being too cynical. I love this company but it is continually breaking my heart when other plays have come and gone.

For your consideration,

Chris