RE: RE: Marudi workplanXThis from the quarterly . . . "Marudi Mountain and Paint Mountain Gold Projects: . . . To earn an additional 25% interest (for a 75% total interest), Shoreham is required to complete an additional US$2,000,000 (for a total of US$4,000,000) of qualified expenditures prior to March 6, 2011. The transaction to purchase the Infinito Subsidiaries, which is anticipated to close in January 2011, would supersede these work commitments."
I suppose we should be hearing about the closing of this transaction soon. Perhaps SMH wasn't on track to spend $4 mm by March 6, 2011 or maybe SMH was running out of the funds needed to complete the spending obligation.
Maybe this is why Mulgravian felt it necessary to light a fire and raise funds ASAP. Just wondering, but it doesn't matter anymore.
Next week we get the name change (according to another poster) and sometime soon an update on the Marudi acquisition and hopefully they provide some insight into the workplan at Marudi.
SSP has a mkt cap of $284 mm which is about 50% of Toroparu's NAV. If Marudi is only half of what SSP has with Toroparu, then SMH has huge upside.