Kenya
If "over a dozen" companies have analyzed the data room seismic results and SMB still hasn't received a JV, that tells me that they're not going to get one until the final seismic has been completed. Most are well aware that without a partner this is going to clean out Simba's bank account and with no cash they'll be pinned into a corner and forced to accept below market value...
However, with no seismic comes no JV and with a disgusting float of 96% there is zero chance for another PP. So IMO, it looks like teaming up with a financial institution could be the next step.
---> with new outside money there will be incentive for SMB to get proactive, shoot the seismic and release the results. If there's something there then maybe we'll get that JV.
After selling a boat load @ .22 and buying back in @ .15, this is still a company I have faith in but its not a stock I watch everyday. Hey, who knows, maybe we ink a JV on Monday morning... but IMO, with instability throughout Africa and the data room open for nearly 2 months now I'm not expecting any big news until the seismic is completed. Ha... or Liberia comes through.
JMO, any useful feedback is appreciated.
Cheers