I fully agree with posters here that the Harbour Group should cancel the proposed $50 million dollar placement entirely. Clearly investors prefer to let the market decide any price for BGM shares. With some justification, they view a proposed $1.00 placement as arbitrary. Meanwhile, Frank and Ian Gordon are using the proposal as a very effective tool to sow fear among shareholders that an immensely valuable resource at Cow Mountain is being stolen right from under their very noses. That will be the primary line of attack for entrenched management, and their sole advisor, Ian Gordon. The argument being yes it's true management made some mistakes in the past, but the Harbour Group is attempting to steal a resource that rightfully belongs to all shareholders. I don't agree with this line of reasoning, but perception is reality, until proven otherwise.
I've said as much in two earlier posts, which can be found here: