GREY:SMBZF - Post by User
Comment by
Gekkoinon Jan 08, 2014 10:37am
222 Views
Post# 22069274
RE:Good Luck
RE:Good Luckone thing I like is the fact that there was no PP or dilution.... next is the fact that smb gets $2 M cash... Ajax was giving them $3M but half of that was a loan (or there abouts) that would have been converted into shares.... they get all their work paid for prior to drilling and still retain 60%.... I hated the fact that they were giving Ajax 66%.... This gets smb closer to drilling... then they can farm out the drill to a major or a AOI/TULLOW/MARATHON, ETC... Plus a 2nd Deal is pending in Guinea... I like this better than I did just a few weeks ago...