RE: RE: RE: Cash on hand Well, I said that I hope the warrants aren't exercised b/c $110 is too much money. Nolan can do great things with $30 - $40 million plus the $15 million from cash flow in 2013. The 2-3 deals he'd get done would get this thing well over $1.00 and significantly reduce the dilution from having warrants exercised.
I said that I hope the warrants aren't exercised, but that I am looking forward to future deals... the warrants expire in a month and a half, there is a lot of time after the warrants expire to do deals.
I think Nolan knows and many of us suspect the stock to undergo a rerating in 2013 when Donner comes online. With the commissioning of the project, it will majorly de-risk the project, and cash flows will begin. At that time I wouldn't be surprised to see us trading north of $0.90. The commissioning of Donner is probably less than 6 months away (Donner says Q1 2013 I believe). Might as well wait 2-3 months and raise cash at $0.90 or higher, and not a full $110 million.
Yes, denisnod is quite correct... we actually have $15 million for 11 months we could theoretically throw into a new deal... if we were to spend the $15 million, with Donner online maybe we could even obtain a line of credit, and use cash earned from the Bracemac mine plus the line of credit to repay SSL to avoid unnecessary dilution.
Anyway... I expect SND to be quiet until January 2013. Nolan's reps have already said that the warrants being exercised would be bad for SND shareholders, so I don't expect them to sign any more deals until after the warrants expiry date to avoid giving rise to a pop in the SP.