Sokoman Minerals Corp. V.SIC

ikehedges is not me on CEO

[likeike]

@ikehedges I truly believe that figure is in play for us. Maybe a bit lower with the dilution, but based on what Tim thinks we have (Fosterville deposit) and the price point that Eric Sprott is in at, it makes total sense. Sprott isn't in this for a double or triple. Fosterville has a 1.97M mineral reserve estimate at the end of 2020. Someone can help me calculate that value, but if we have the same at Moosehead, some large miner is gonna want it.

Likeike here

the thing is Fosterville has been producing 500,000 to 600,000 ounces for

6 years now and they are now doing a new estimate on a new zone.

So lettuce say Moosehead is a mini at 3.5 mill oz.(my best guess)

Today someone on NFG board with them finding bonanza grade in the

black shale they have one guy guessing Keats will have 10 mill

So even at 3.5 mill not a bad place to be but we are behind on drilling

on my book. IKE

Today

[lewdogg]

So you're saying you have an imposter on CEO?

[Maxmoe]

One of them is an arzhole so I get the other guy not liking it. I think I have them both on ignore which is unfortunate.

[Hedge99]

No, he is likeike, I am ikehedges. I do not impersonate anyone, and anything I wrote is my opinion only.

[lewdogg]

Nice to meet you Ike (2). I'm ashy2classy. GLT us!

[Hedge99]

LOL. Hope you got some of the cheapies today Ash!

[lewdogg]

Buying between .22 and .24 USD when I can.

[surething1111]

Been married to my wife for almost 40 years. She gave me an ultimatum a couple of days ago: No more Sic stock purchases or she would leave. I'm really gonna miss her. Best longs S

[Hedge99]

Now there is some humor in a time of duress!!! Funny I take it you are still bullish on SIC ;)    I am having a difficult time with the lack of news and stagnent SP. I realize this is normal for these types of stocks based on many comments here, but that doesn't seem to help me feel secure in my decision to buy this. I read this week that BHP is not going to be getting into Lithium

[surething1111]

Hi Hedge, I agree, these are trying times, but if I considered Sic good value at higher prices, then I most certainly do now. Times like this are when we should be buying. Of course prices can always go down even further, but the reward/risk ratio is very high at this point. I don't expect Lithium pricing to stay this high, but do expect market to stay competitive...... we'll see. I'm

[Hedge99]

Hey Surething, I am not familliar with the time horizon on this kind of investment, and I do believe in the prospects here. I must say it has been challenging to watch the constant up/down of the SP. I pulled the trigger at .58 and .42 thinking I would average down from the highs we saw last year.  I am fully invested at this point, and am not willing to liquidate anything else to average

[surething1111]

High Hedge, Sorry for delay, and all your comments are fair. A year ago, I would have told you that by now we would have most geological controls in place by now at Moosehead. As you can see from today's news release, our Eastern trend dips toward the North, and Eastward. These downdips are not linear, they can and do vary. Tim is keeping spacing very tight in order to stay on target. We also

[BlueChipper2020]

Great post surething. Today's PR was an excellent update and there are no negative surprises. We do need to watch our funds and the short term key is we need to start moving our stock price higher as the year progresses so we do a larger raise with minimal dillution. I think we can do that and we still have 48000 metres to drill or basically our entire 50K metres for FY 2022. I wish the labs

[AlwaysLong683]

Good statement. My view is share dilution is in the eye of the beholder. The last equity raise of $5M in gross proceed closed less than two months ago on March 21 for 0.40 per flow-thought unit with each unit consisting of 1 share plus 1 warrant (exercise price of 0.45 within the next 24 months). If you felt this was fair value at the time of sale (or now in retrospect), then I wouldn't

[Minray]

this is an email response I received from the CEO at SIC regarding warrants: The following table reflects the warrants outstanding as of December 31, 2021: Exercise Number of Expiry date price ($) warrants outstanding April 6, 2023 0.40 10,614,704 May 28, 2023 0.40 1,885,296 June 24, 2022 0.12 79,600 Avg 0.39 12,579,600 As you can see, most are exercisable a year from now at $0 .40 and most (~80%)

[AlwaysLong683]

If anyone wants an overall veiw as to what the current state of SIC's share structure is, check out page 2 of the April 2022 Presentation on SIC's website: Total Shares Issued and Outstanding:  214M Warrants:  25M at strike prices between 0.12 and 0.45 Options:    12M at strike prices between 0.12 and 0.46 Fully Diluted:   251M I suspect the

[Hedge99]

OK, so what I see in your response Always long is we have 37 mill option/warrants all payable to the company when exorcized (guess at $.30 average) for net proceeds of $11 mill. That should mean that our next program should be funded without issuing more shares. Is my logic sound here? $11 mill should get us a nice program into the spring/summer next year.

[AlwaysLong683]

SIC would only receive the proceeds from all the options and warrants IF all the holders decided to exercise all of the options and warrants they hold - it is up to the holder of the option or warrant to decide if or when they wish to exercise it. Since I suspect the vast majority of the outstanding SIC options and warrants are curently "out of the money" (i.e., the exercise price of

[BlueChipper2020]

Hedge No that is never the way to look at it. First of all, no one is going to exercise those options/warrants unless the stock price is significantly higher than the strike price. Secondly, many of those holders may choose not to exercise even then if they believe the price will go higher. You don't exercise options/warrants and then sit on the shares. It is an instant exercise/sell that

[geezer21]

"It is an instant exercise/sell that happens." Not necessarily.  A shareholder exercising an option could decide to sell or to hold their optioned shares. For example, since it is Eric Sprott who holds most of the options and currently is holding 28% of Sokoman stock in all likely hood I would expect he will hold on to the optioned shares he exercises.  Sprott is invested in

[guy491]

The following table reflects the warrants outstanding as of December 31, 2021: Exercise Number of Expiry date price ($) warrants outstanding April 6, 2023 0.40 10,614,704 May 28, 2023 0.40 1,885,296 June 24, 2022 0.12 79,600 ,  Total 12,579.600 at an average price .39

[BlueChipper2020]

Also FYI there are 13.3M stock options outstanding exercisable at weighted average price of $.26 however they have a long expiry period for the most part up to 2026.  In summary, there is zero unusual about any of this and this is a mute point. Thanks to the seller who sold me a small amount today at .255. Got half of my order filled.    GLTA BC 

[AlwaysLong683]

The above is only mute if SIC's share price doesn't surge during this period. Once warrants or optioins are in the money (i.e., SIC's share price is trading above the exercise price of the warrant or option), holders of these instruments can buy new shares of SIC for less than the current market / trading price, thus diluting existing shareholders, and the higher SIC's share price

[geezer21]

"holders of these instruments can buy new shares of SIC for less than the current market / trading price, thus diluting existing shareholders..." When they buy the new shares money goes into the coffer that adds to the equity of all the shareholders.  It is not exactly a windfall for the option holders.  It is part of their compensation and they take a risk that the options

[likeike]

Great posts guys.....a lot of good thinking put into them. Priority one still is the barge and connecting the systems which I strongly believe will be  accomplished this year and with everything ticky poo which seldom happens by this summer. As Tim Fraude has said last year he is happy drilling shallow holes and just extending the  resource from surface but the real prize will be

[BlueChipper2020]

Hi Hedge,  I would not be focused on the lithium play here so much. As Surething stated, the lithium is just a potential bonus as we fell butt backwrards into the Golden Hope property. This is a Moosehead story.  All equities are gonna be pushed down when you see the great buying opportunities in US blue chips. Way oversold. I posted last week, even I sold some SIC to add to some US

[surething1111]

Ike posted These numbers are shaping up into what I see at Moosehead........just need some good intervals and continued excellent grades at depth. Wouldn't surprise me to find an additional splay or two. Depth is the key........Glad that Tim now has the confidence to step it down dip......makes me confident :) Fingers crossed longs Best S