normally i would have upped my position after yesterdays high volume day,but i am sure these guys will soon raise money... so be aware. they should have something like 4million left which is not very much.
its out of my mind why someone with half a brain would raise money at these levels to bring forward a project with a pretax irr of 14,8% at 3$ copper. i am not sure how much it will cost to get this project to feasibility level but the costs must be huge. 40million plus i think. if they raise all this money with share placements the etg bull story is dead.
its so obvious what to do from a shareholder perspective. either spinn off the nevada deposits or stop the work there and wait for higher copper prices (5$plus). if they would do this, this stock would be a homerun. you would see the share price tripple in no time.
i think they will not do this because they care mostly about themself and want to bring forward their "baby". At least that is the impression that i got after they deceided to go forward with ann mason after that medicore Pea.
i would rather donate that ann mason project to management and keep the mongolian assets for us shareholders. we would be better off...for sure
i hope i am wrong and they do not raise money at these low levels. would be very suprised if they do something intelligent...