SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Naxos Resources (NAXOF)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: knight who wrote (7565)12/20/1997 6:38:00 PM
From: Henry Volquardsen  Read Replies (1) of 20681
 
knight,
You are wrong on this. The stock was NOT allowed to fall to make the private placement look good at 6. The company knew it would need cash to finance to pilot plant. They held off setting terms until after the release of numbers in the hope that a rise in price would require fewer new shares being issued. The market did not cooperate and NAXOF traded off and the pp had to be set lower. The company limited the availability of the pp because they didn't wish to sell more stock at this price than needed. Management holds a significant percentage of the equity and has the same interest as other shareholders in minimizing dilution.
Also we have discussed repeatedly on this thread that additional financings will be needed. We know the cash position of the company, we know the requirement for eventual acquisition of J/L process and we know the cost of the pilot plant. The numbers that were released were released to a narrow audience that has been following this equity for a while and know what is needed. I was very pleased with the numbers and they convinced me to buy more. But I did not rush out to buy the first day on fear the stock would run away. I held off anticipating some back fill (I posted that at one point) and bought stock last week with a 6 handle. I suspect a lot of other interested investors who are the ones who have the size to purchase that will move the stock higher could also do the analysis that said it was worth the risk of waiting a bit.
So I disagree that the stock was allowed to drop back. If you follow the stock closely enough and watch what is happening closely you could have seen it coming.
Henry
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News