Can't say about Mike but I spoke to Wister today and a few other large shareholders among other people including Moose. Wister came out on the positive side of the equation which shouldn't be surprising since he manages a very large position and really understands money and risk and what is required to grow a business. He did think the timing could have been better as do many others on this board including myself but he was relieved also because this takes away a headwind which the shorts and others viewed as an issue.

Obviously the company felt their attempts to market some large and very good exploration projects to raise cash were either taking too long or maybe couldn't be realized in the present market conditions or the time required which shouldn't be a huge surprise because things are still tough out there for this sector although improving. The company for sure has been clear that further capital was going to be required in one form or another.

Whether we like it or not the the deal is done and will close next week. I bought more stock because this will firmly set a higher bottom (low) to the stock when big money is raised and our number one shareholder, Sentient (who has never yet sold a share from what I can tell), partcipates. I just couldn't let my anger or frustration interfere with a buying opportunity when I expect a significant new bottom is being established what is a re-emerging bull market activity.

As far as the shorts go, not sure what to think here just yet but I won't be surprised if they don't go down much as a result of today's share trading action. You would think since they aren't getting the issue they would be covering but these shorters think much different than we tend to think that's why we never seem to understand their behaviour. I guess we will find out soon enough but no matter to me as it won't change my view on this likely being a significant bottom.

BTW, there will be many more financing announcements from many firms in the coming weeks so be prepared as they won't tell you when you ask.