Take physic, pomp

Trevali (TV.to) raising money by selling shares? Say it ain’t so!

Who remembers this?
Trevali: Production at Santander mine expected to commence in late 2011
That was when Trevali had a little over 144m shares out. No need for more, right? Wrong:

Santander finally made it to production over three years after that splash header and had managed to get the share count to 280m in the process. Now they’re going to pull the same trick on the back of their latest marginal operation at Caribou and hope that nobody notices.

Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV)(LMA:TV)(OTCQX:TREVF)(FRANKFURT:4TI) announces that it has entered into an agreement with Dundee Securities Ltd. on behalf of a syndicate of underwriters (together, the “Underwriters”), to purchase on a “bought deal” basis by way of short form prospectus, 19,610,000 common shares of the Company (“Shares”) subject to all required regulatory approval at a price per Share of $1.02 (the “Issue Price”) for gross proceeds of $20,002,200 (the “Offering”). continues here

Oh cool, more dilution. Tonight’s news puts this company at a minimum 305.537m shares out (and it’s probably more already), over double the “oh we gonna be miners any minute” number above. How this company gets away with this scam year after year, all the while getting its free pass from the sycophant brokerages due to the commish generated, it’s absolutely…..well, it’s this:

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