Guest Post by Bob Moriarty at 321gold.com:
Lion One announced a new private placement on May 3rd for $27 million. The shares promptly dropped by 16% to $.87 apiece.
I’ve had a lot of emails asking me what I think because I have made it clear that I love the company, I love the project and it is my biggest position. I wish they didn’t have to do the PP but I really don’t care. I will use it to add to my position.
When putting a mine into production you can think of it as the difference between ham and eggs. The chicken, she is involved. The pig, he is committed. Wally knows the difference between being involved and being committed. He has taken the least bad alternative. He has to build 100% of the mine so it can be in production in Q-4, he cannot build 98% of the mine. If you liked Lion One at $1.05 two days ago, you should love it at $.85.
Given the dismal state of the banking system the PP timing may turn out to be brilliant. Look for more banks to close this weekend. According to a study from Stanford, 2300 banks are at risk of the 4600 in total.
Lion One is one of the biggest sleepers in the business. Gold has hit a new high and one of these days investors will see the opportunity that exists in resource stocks.
Lion One is an advertiser. I have participated in every PP for the last couple of years and LIO is my single biggest position. I could not possibly be any more biased than I am. Do your own due diligence.
Lion One Metals Limited
LIO-V $.85 (May 4, 2023)
LOMLF OTCQX 176.9 million shares
Lion One website
