I think this is a really good move on DG's part. Absent this move, CLL was a going concern. This action removes uncertainty and the markets don't like uncertainty. I don't give 2 hoots that it's dilutive. Issuing equity looks a lot better on the balance sheet than adding debt. I am so freakin relieved that they're going to start building Algar now. One nice thing you can say about DG is that he has proved himself able to build an SAGD plant on time and budget. So we can look forward to CLL churning out 20k++ per day by xmas 2010. Wouldn't surprise me if they built Algar to scale up to much larger production. I don't really believe they're going to build mini SAGD's for pods 3,4,5,6,7,8...

I figure they'll issue 100 million shares @ $1.25 cdn ps. They can then borrow the rest on stronger terms, 'cause they're balance sheet will be stronger. Right.

Anybody else wanna guess the # of shares and price? Good for bragging rights.

Will God, and $60 oil, bless us all.