How many companies could have raised that much money in such a short time.
posted on
Apr 10, 2011 12:06PM
I recall some of the members mentioned this here.I personally believe that Dave had this planned many months ago .Just look at PRB web site and find the investor,s column under"analyst" and it says ----pending.Who were they expecting and which financial house will they come from?BMO of course.It was shortly after the company,s announcement of a massive drill campaign.I was under the impression that Dave must have anticipated a lot of money coming our way in order to do so since it,s not his style to drain the treasury without means to replenish it.I thought the treasury were going to be filled from either Goldex royalty or B C at the time.
Well,just look at this multiple scenario here:
Someone alerted BMO very early on at the wonderful potential of Borden Lake and they approached PRB and made offers.
Cliff had prolonged it,s waiting game at purchasing B C since they knew that the company will need a lot of money to bring in a massive drill plan at Borden{May be PRB will take anything quick}.
LSG also heard about Borden and once again delayed drilling at the alteration zone or anywhere else at our Timmins property fearing what they may unearth what,s beneath their JV zone.They approached PRB for either a merger or takeover deal and was flatly denied so they decided to accumulate PRB shares discretely in the open market as well as looking at other ways to accumulate more via legal limits.(just a speculation on my part).However, this should explain why LSG had put off drilling at Timmins time and time again.
Well,as one can summarize,all roads lead to Borden and I haven't even speculated AEM,s role in all of this if there,s one.May be that, why Dave had accepted such a hugh PP in order to kill multiple birds with one stone.Let,s hope that the stone is solid and lethal .