"that the recent pp will be fully subscribed? Doesnt look to good to me."
The chances could actually be quite good if there is a reason of timing involved with this PP. To try to acquire a large quantity of shares on the market would drive the price well beyond .80. If there is knowledge of something coming into play then the PP would be a save and timely vehicle to enter NOT with.
It strikes me that the reason for the speed of this PP (as I mentioned in my conversation with the office, the book on this PP is closing in a matter of days), besides the well accepted greed concept, is that they have a reason to move quickly. If we recall, one of their complaints about the original board was the missed opportunities and slowness of progress. They either want to go high powered on the drilling or they have a suitor in the wings and are pumping up their shares to position themselves for the sale. Next should come the pumping up of the sp unless the deal has already been done and won't they look good when they say, "hey look, the sp was .55 and we got you 2.25 a share". The sad aspect of the latter is that a great business opportunity would have been lost.
All speculation. It would be nice to think that they are going to look for a better dollar, but I have my doubts based on the way they cashed in on ARU. ARU was becoming a bit risky,they sold it, and they looked for something else to turn and found NOT. If they are true investors they will look for greater profit down the road, or they may just get what they can and then buy into something else that will support their modus operandi.
I'm still optimistic but open to any possibility. I'll be doing my best to "hedge" my position.
