As the volume today shows, the market is clearly supporting the financing. There are buyers out there who like the story and buying large blocks. The buyers in the market and those who participated in the financing have apparently completed their due diligence and like what they see.
We view Lynden’s prospects as better than before the private placement was announced. Surely, the dilution is not something we were looking forward to but this was anticipated given the rapid pace of development. The company’s financial future is now ensured until their borrowing base increases. With support being shown in today’s market and the industry buzz and excitement about the Cline shale, we believe that Lynden can realize its market cap potential and that this stock can return multiples.