NYSEAM:SVT - Post by User
Comment by
vinniePon Jun 15, 2020 10:29pm
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Post# 31154041
RE:RE:RE:RE:Platina Halted - Capital Raising
RE:RE:RE:RE:Platina Halted - Capital Raising
wealthyjr wrote: Sounds interesting. Keep me informed. Thanks.
Nothing interesting here. This "capital raising" is 43,000,000+ shares to fund the newly acquired gold project in WA, it's platinum project and to "expand its portfolio of gold projects" and “review a number of new opportunities in Australia". The only thing we really got going for us is them finalizing the Skaergaard sale to get some capital and keep the drills turning at Blue. With that said, they'll only be getting $500,000 in cash, so as per the closing of the Blue deal last October, they have about 11 months to drop another $2,750,000 to earn they're first 50%. For it being a "flagship project" they certainly aren't prioritizing their assets and are becoming close to not being able to fulfil their obligations. I guess they could always do a placement for another 115,000,000 shares at today's price to raise that money, no biggie.