IKN

children of an idle brain

It must be Friday evening, Almadex (AMZ.v) NR edition

Feb 2nd, Almadex (AMZ.v) announces a $2m placement at $1.35. A CEO quote from the NR:
“…given the low cost of drilling resulting from the excellent project
infrastructure and our integrated equipment and drill teams, this modest
financing will generate a significant amount of work on the ground.”

Modesty is a virtue, I hear. So today Friday Feb 9th after market close, Almadex (AMZ.v) increases the placement to $3.5m.
Almadex Minerals Limited (“Almadex” or the “Company”) (TSX VENTURE: AMZ)(OTCQB: AXDDF)
is pleased to announce that the Company has increased the size of its
previously announced proposed non-brokered private placement financing
(the “Offering”) to up to approximately 2,600,000 units (the “Units”) to
raise up to approximately $3,500,000 at a price of $1.35 per Unit.

You know what they say in Vancouver, “If they offer you money, take it”. On the news of the original placement AMZ was a $1.46 stock which immediately dumped to $1.30. On the back of the copper sector rally it closed to today at $1.50, so guess what happens next folks? Yup, in Vancouver they also say, “Shareholders, if they can’t take a joke fuck ’em.”

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