In my previous post on 4/1 EAS was over $6 on no news. I expected that if the news was good we could see another $2 added to the SP.
Well it happened, EAS touched $8.05 on spectacular news. Hole 24 bottomed out with very high grade, 15.74 g/t gold from 187 to 209 meters drilling at 55deg dip. Hole 25 is in for assay and if its as good as 24 then we should see some more share price appreciation. I'll guess that we can hit $9 before or on the news if hole 25 comes in like 24.
Now, what about a PP? With the SP hopefully in the $9 range after hole 25, would be nice to do a bought deal at $9 with no warrants for 2mil shares, $18 mil would be more than enough to do all the drilling they want. And 2mil shares is very little dilution. EAS management is playing their cards perfectly and I would expect that any financing would come at a fair price. Ok, even if they do a PP now at 7.50 for 2mil I still think that is more than enough to take us to the buyout level and I would think there are people beating down the doors to give EAS money right now at 7.50.
Lots of good discussion on the board for EAS, so far no bashers or pumpers. Surprising for a stock that has done so well.
EAS, sure thing to double from these levels? I really have the feeling it does have that chance and more, if not I would not have 50% of my spec portfolio in it. This is a great property being worked by great management. Enjoy the ride and buy more on dips. But always after doing your own DD.