Santana Minerals SMI - The next large Otago Macraes Gold Deposit ?

[Daytr]

Yes in the scheme of things $4m is not a large amount, but when you add up the $31.2m raised from institutions also at $1.15 and the 35 million options with an issue price of $1.08 at the end of January. You're looking at over $75 million of shares at todays pricing that will eventually dilute the current share base. You'll need a really good announcement or some really big institutions to move that volume when the share price gets higher.

Why would institutions necessarily need to move that amount of volume if those who bought the new shares aren't selling?
Or if they will need to enticed with a good profit on their investment. I.e a higher SP.

There was always going to be some dilution required, it's the nature of the beast.
$80M in cash with the options should easily get them through to BFS & also fund quite a bit of drilling. Exciting times.

Institutional buying is what I am referring to. I.e fund managers etc. coming on board.