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Gold/Mining/Energy : Barramundi Gold

BAM 54.25

-0.2%

11:58 AM EST

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To: wtfigo who wrote (68)	1/15/2000 4:58:00 AM
From: zebity	Read Replies (1) of 99

Newmont exercise warrant for $500,000 @ .40 Looks like BAM has acted a bit hastely on the issuing of new warrants etc at prices below $0.20 Why the extension for $0.20 warrants, after someone has just excercised some of the 0.20 warrents to raise $130,000? Now Newmont has excerised it rights early, why the need to issue more shares at dirt cheap prices (and ensure continuing dillution and loss of value of current shares)? This all smacks of incompetence from directors. Surely BAM does not need the cash now does it? So why the issuing of new warrants and options, if not to allow for a potential quick killing in BAM shares at the expense of other share holders. The exact details don't matter that much, the effect on the current shareholders is the same. I think this is obvious, issuing more shares is doing current holders a disservice. Lets hope the BAM uses Newmont $'s to retire debt owed to director controlled group so that we do not need to continue issuing shares as interest to these directors. Once they get their capital back maybe they will stand aside and let some competent directors get involved and try to raise the profile and credibility of BAM within the mining investment comunity.

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