Via Mineweb - Waterton Raises Over $1b.

Waterton is looking for acquisitions in the gold space and has already made an acquisition of the former Great Basin Gold's Nevada mine.

A beneficial change of ownership occurred within the scope of the Prepaid Waterton Bridge Facility, with a shuffling of the board at GBN.V.

Large capital interests might believe that miners will reliably depend exclusively on their capital, something Sprott would assert, but a benficial change of ownership means that insiders are reluctant to relenquish control.

One thing they can do is pay distributions to the shareholders, which is something large capital interests can't compete with. Osisko is a very good example of what not to do.

"The firm will look at acquisitions, joint ventures and partnerships. The fund is set to run for nine years from last July, and acquisitions will likely be in the range of $25 million to $200 million, Elishis said."

MineWeb

Conclusion - I would say distributions are warranted under the circumstances. It really depends on how much unrefined gold was stored away in escrow by the company, in excess of the gold commitment.

Two things to look forward to-

Settlement of the gold commitment

A PEA on an expansion of The La Ronge Gold Project, which was supposed to be ready January.

-F6