A few thoughts re Pala and "other board"Having been invested in SJL since last October I have to admit I am somewhat disappointed in Paul Olgivie's decision to "give up control of the Company to Pala.
Why? Because the News Releases have led us to believe that Funds($200K) had been assigned in a recent Private Placement to exploration.........why is there NO MENTION of this in the News Release and why is no exploration currently taking place when funds were available ?
I guess the answer we would now be given is that the company has so many assets and they need the $14 million to move forward ASAP to become a major producer of Graphite.
But what is the cost to the Shareholders and the risks involved? Obviously the Market has not yet reacted in a positive way and all the terms and conditions tend to favour the Company who are funding the debenture (high interest plus ultimate control of SJL) In addition they need more time to do more due diligence( which in all likeliehood has been almost completed(otherwise there would not be a conditional deal in place)
There are obviously bad feelings between the other Company and SJL which is for the Courts to decide based on Mr Cooper's defence .....I just wished Bob Greenfield would refrain from coming on this board to "stir it up". He is using the one negative Stockwatch interpretation of the deal ......... if you read it quotes one instance of failure and states that there have been several instances where Pala's investment has proved to be a success for the Companies they have invested in.
I invested in this Company because I believed in Paul Olgivie's experience and knowledge of the Graphite business and the fact that he was instrumental in bringing the Miller Mine to CCB.I have been very disappointed so far but the jury is out on this deal and it remains to be seen what will develop from here.
I believe the Market is taking time to digest the terms of the deal and I sense there will be more clarication in the weeks ahead as to the structure of the Company moving forward.....You would have to think Pala feel they can make a lot of money in assisting bringing several Graphite properties into production, so maybe as NP suggested we should bear this in mind and be cautiously optimistic moving forward JIMHO GLTA
What do others think as the board has been surprisingly silent since the News was announced?