RE:RE:RE:Warrant acceleration SilverKnight wrote: I doubt they will do a financing at all and if so it will be very small. The still have to pay Lorraine Copper enough shares that they own 30% of the company and that is after they have spent $6 million. Lorraine was smart to structure the deal in this way. It shows they had confidence the work would be accretive. It will be interesting to see the next quaterly FS, but the drilling season is over now and I believe they didn't finish all the holes before winter set in. From the Oct 25th release:
"The drilling contractor completed 6,838 metres in 22 holes....All planned activities were completed in full, with the exception of diamond drilling where the total meterage was short of the planned 15,000."
So it's doubtful they spent the $6M yet. Lucky for Lorraine. If the warrants do get exercised, they will need to issue even more shares to Lorraine to keep them at 30% upon excercising the option. I'm long Sunmetals and Lorraine. GLTA
Ok SK . You said today you sold some SUNM and bought Lorraine so long and strong on both uh huh . Anyway somebody here is is twisting the truth as what does this mean ?? From todays NR .
Further results for an additional 14 drill holes from the 2018 program are pending and are expected to be available for release by year end. Read more at https://www.stockhouse.com/news/press-releases/2018/11/14/sun-metals-intersects-100-metres-grading-5-copper-equivalent-in-drill-hole-at#GKhPQRlok3vUtbUw.99(Quote from todays NR . Also sure Oct 25th NR states completed in full so yes the drilling is finished but Hey SK STILL Results from 14 holes to come right ?? Right . Amazing what people will say or a play on words eh or else the company lied about 14 holes coming in the NR SK .?? . Thoses holes are going to start coming out like clockwork now and sure glad to have a stack . Been around the block and when you read into posts you find the posters motivation fast enough . Hey SK , long and strong SUNM, you and Lorraine can get a room . JMO. Cheers