Bayswater Uranium

[MetalMeister]

New warrant reduction plan.

What are they trying to do?  Raise some short term cash??  Like about 7 million?

http://www.marketwatch.com/news/story/bayswater-seeks-approval-amend-terms/story.aspx?guid=%7B574869EF-475D-4D41-AA8A-37F7095C59D4%7D&dist=hppr

[Bottomfeeder]

Wow!

Cant say I completely understand the implications of those requests, but my gut tells me its pretty bearish!

I think we may have our first floater in the fish tank!

Help needed with the harder stuff!  Guys, Punter....whats your take? 

[MetalMeister]

I just called BAY and the company line is that it may be their preferred way to raise cash, going forward.  They are just considering it now. 

They can raise $7-8 mil if the PP'ers bought in to the deal.

If they have been trying to raise through more PP's and cannot then it would be bearish, however, they told me they currently have $17 mil in the bank...

[Bottomfeeder]

Thanks for the work yellowcaked.

So if you look at thier fully diluted shares 176M, then .10 of of their .20 share price is in cash. hmmm... Mineral properties as of 2/28/08 were 46M, so thats ....thats another .26 per share fully diluted....so just with those two items .36 NAV.

And they need more cash....cause it looks like they burned 10M since Feb. 28, 2008. 

Do you understand how writing down existing warrant prices raises cash?  Cause I still dont get it.  Boy talk about being willing to look like an idiot here!  Go ahead guys give it to me!

[MetalMeister]

My guess is from reading the news release is that the warrants were given to 3 or 4, I think, Private Placement buyers and they are throwing out the bone to get them to exercise their warrants and if they did, all total, would be around 8 milion as the press release covers around 17 million warrants at around .45-6 cents, I think.

This tactic has not been approved yet, by the exchange or whoever governs them up there in Canada.  It's just a wait and see for now.

[Bottomfeeder]

Thanks Yellowcaked.

I misunderstood.  I was thinking warrants "issued" raised the cash.  But I guess not.  If I am getting it now it would be cash raised when warrants "exercised".

What a dumbass I am.

If I am still missing the boat, please set me straight guys, still trying to learn and understand more! 

Thanks in advance.

[MetalMeister]

Good assay result!!

http://biz.yahoo.com/iw/080910/0432298.html

[MetalMeister]

End of uranium ban!!?

http://www.abc.net.au/news/stories/2008/09/17/2366613.htm

[MetalMeister]

Good results from assays and starting to drill on them!

http://biz.yahoo.com/iw/080930/0438492.html

[MetalMeister]

I don't know if anyone has been watching or not...

I keep all the Dine's picks, old and new, on my trading lists and watch them every day for news and gains.

Bayswater has gone ballistic in the last few days:

http://finance.yahoo.com/echarts?s=BYU.V+Interactive#chart1:symbol=byu.v;range=5d;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

On low volume, also.

Somebody is buying in waiting on more well/drilling results, I think.

I checked their website and they have close to $2 billion in uranium (43-101) on two sites and their market cap is 27 million.

It seems they are getting close to production.  I placed a call to them but may not hear back for a week.

I'm still glad I sold back before the bust, though.

$2 billion/27 million = 128