Sokoman Minerals Corp. V.SIC

SIC share price not moving

[megacopper]

I have to say I am perplexed as to why Sokoman's  share price isn't moving much higher on the latest very positive drill results. If anyone has any ideas as to what the reasons could be I would love to hear them. 

And yes although a takeover of SIC by NFG is speculation at this point it is a possibility and one I had never considered. After all buying shares in a junior mining company is pure speculation by nature and that is why we all play this game with the chance of huge financial rewards if an economic mineral discovery is made. I look at all the juniors around NFG as possible takeover candidates. NFG geologists are learning a lot about the geology of the region as are Sokoman geologists with every drill hole and I think they are finally starting to figure out what is going on with the extremely high grade gold and the geological structures that are causing it to settle out the way it is.

It's amazing that so much widespread high grade gold has been found in just a few short years.   Gold exploration in NL is relatively short when compared to other mining districts in the world.  The past few years is really the first serious widespread drilling campaigns for gold exploration with some serious money being thrown at it. And I have to say the success rate of finding high grade visible gold has been phenomenal and it's the reason why guys like Eric Sprott and Rob McEwen are so interested in this region.  Decades ago exploration companies in NL primarily looked for base metals unless they stumbled upon gold by accident. I really think there will be several economic gold discoveries along this trend so all juniors are in play and anything is possible. Still early days so we have some exciting weeks and months ahead of us.

[BlueChipper2020]

Megacopper You make great points. I also think SIC is undervalued. Why the stock price and market cap are so low? My guess is the following:  1.  New investors got burnt the last 3 phases after sharp plunges in the stock price after results  2. Consolidation happening (not penny flipping over the last six months) now with shares moving to stronger hands  3. The share price

[diabase1]

Megacopper: The following are a few comments on SIC. 1) On Dec 31, 2019, they raised $535,000. On June 23, 2020, they raised $1,482,945 for a total of $2,017,945. Since the Phases 5 and 6 drilling are completed, I doubt that they have any money left. Therefore, they must be close to announcing again that more money has to be raised. 2) On July 30, 2020, they announced that they were extending the

[BlueChipper2020]

Diabase1 phase 6 is not completed. They have completed only 4000 metres of the 10,000M program. Of the 4000 metres, we have had only a few of the results back. So collectively we are in the 1st inning. Good way to start with the hits they had. The Company is fully funded for Phase 6 as management has stated numerous times. Of course they will have to raise money again, thats part of junior

[BlueChipper2020]

One more item. SIC had $2.7M in cash as of June 30, 2020 audited financial statements which are on SEDAR. They just started the 10,000M program and they have sufficient cash like management said they did to complete it.  GLTA

[megacopper]

I agree that SIC has great potential. They have an excellent chance at finding an economic high grade gold deposit. It's just strange how the stock isn't doing better. Something doesn't add up. It could be that the original shareholders are fed up with the wait and want out after the long wait from 2 years ago when the hit 11.9 meters of 44 g/t.  Or perhaps it's the overhang

[diabase1]

I don't understand the low SP either. However, SIC is on a different fault structure than NFG, LAB, SKYG and ROX. Perhaps people want to stay on the trend that seems to be more enticing for investors right now. That could change however, if SIC comes up with some more decent results. As the saying goes, you've got to do your homework first, and study, before you write your exams. I'm

[likeike]

Having not heard of this company before I thursday I did listen to Timothy Froude. He sounds more than capable to me but he is wearing a lot of hats. The later in the year he talked the more confident he seemed. I find this interesting as to some of his drilling seemed a little helter skelter but I do think he dispelled some erronous thinking on the matter. If it were me and all the delays and

[RYUcan]

They are planning to drill up to 400m depth this drill phase to get a handle of the structure as it deepens and splays. Not just 100m-200m depth. Over the 6 drill phases they have built up a good understanding of the targets without too much dillution. I would not be superprized if Sprott adds to his ownership shortly. JMO.