RE:SATURN - BIG DAY It will be a big day alright, interesting to see how the market reacts to a private placement at $2.11 that doubles the share count.
Before we go singing praises and comparing these guys to Wozniak... Let's not forget that a mere 16 months (Oct 2021) ago this company did a TWENTY to ONE share consolidation, reducing the share count from over 500million. I wasn't a shareholder then, but if you go a few pages back you can see plenty of rage ... existing shareholders were decimated.
https://saturnoil.com/invest/news-releases/saturn-oil-gas-inc-announces-ceo-presenting-at-the-international-investment-forum-and-completes-share-consolidation
Following that SOIL conducted several equity raises and took on a rather large bucket of debt in the next 16 months to grow production. The company also missed the boat, having millions of warrants expire out of the money; which would have otherwise helped finance said growth.
I've been watching this name for a while, and I see the attractive valuations etc. but why buy SOIL when there are other comparable oil companies that are about to be, or are debt free.
I wish SOIL success but I'm watching from the sidelines holding MEG TVE WCP CPG HEU CJ I might at some point grab some 2025 warrants
GLTA