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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: mark silvers who wrote (7567)12/20/1997 3:32:00 PM
From: knight  Read Replies (1) of 20681
 
Mark, I considered the dilution factor, but sometimes the powers
that be don't see it as a detrimental factor. The PP participants
might be more comfortable with quantity at a lower price. More bang for the buck, so to speak. Management may be more concerned with raising the cash at this point rather than further dilution. The way this whole stock price retreat has played out; it looks like the $6.00 figure was in place some time ago. Just MHO, but I believe they had ample time to do the PP at the higher trading price prior to the 97-19 release. I think one concern that all shareholders should consider at this point is what is going to happen to the share price when all this stock comes on the market after the blackout is lifted on insider trading. If the deal goes through with J/L in the new year, the dilution will be staggering unless Naxos opts for debt financing. Just a thought.

knight
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