Junior mining companies should avoid flow-through financings in Canada except for charitable flow-through with back-end structures, because traditional flow-through buyers buy for tax benefits not conviction, flooding the market with sellers and forcing premium issuance prices that dilute long-term holders; Gerald refused flow-through at $2.70/share in 2006 and self-financed instead.
normativepending
Speaker
Gerald PanonEvidence Quote
“the first deal that I was offered in December 2006 uh from the banker at dunde was flow through $2.70 and I said take a hike I'll go and finance it myself”
Source
The Biggest Problem With Junior Mining, the Story of a Mine Builder, and a Different Copper Porphyry— Resource TalksCreated: 8/13/2026, 4:56:03 AM
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