Quite rare to see another financing announced so soon after a raise has been completed, especially while the shares of the previous placement are still in lockup. Better to raise money when it is not needed. Huge boost of confidence from Eric Sprott snapping up another $1 million worth of Stuhini shares.

There should be enough cash now to complete a new PEA (US$360,000) for the Ruby Creek moly deposit, fund expenses of a potential spin-off, maybe punch a few exploration holes. The company had roughly $1.5 million in cash prior to the private placement announced this morning.

There were enough funds to make the final option payment and the yearly payments for the company's exploration properties, etc from the recently closed financing in January. It shouldn't be hard to pull in the remaining $600,000 that Eric Sprott isn't taking. There were probably people who didn't get as much as they wanted in the last fully subscribed placement.

Fully subscribed, this private placement wwould result in 42,417,094 shares O/S and 7,332,178 full warrants. Fully exercised, the warrants would bring in another $3.4 million to treasury.

Almost 50 million shares on a partially diluted basis not counting options. Still a very tight share structure for a company sitting on an in-ground pure molybdenum deposit of 477 million lbs worth close to C$28 billion.