RE:RE:RE:RE:Heading towards $10 billion Mkt Cap
Noble sold 75% of their Canada Nickel shares, after practically giving away tens of billions to create CNC for 10,000,000 shares & potentially the enormous sum of $1,000,000 if CNC buys the 5 optioned properties in Project 81. Spruce isn't quite so boneheaded. They still hold their 10% share of CNC. SHL.V's share price is below their liquid marketable securities value. I bought SRCGF today for 0.163 USD. The marketable securities are worth 0.202 as of the close today. That's a bargain, but there is a problem with Spruce that can't be overlooked. They must share dilute substantially every year just to remain a going concern. That means each shareholder's percentage of CNC thru SHL.V will decrease each year. CNC requires very little share dilution until the DFS is complete. So SHL.V is a bargain today, but only as long as CNC keeps going up. Noble giving away one of the largest nickel reserves in the world looks like the biggest bonehead moves of all time. It was so bad, it had to be intentional, so that someone other than Noble shareholders would receive the big windfall. Who is that someone or group of someone's? I can't see who in the financial reporting. But if Canada Nickel hits tens of billions in reserves in the optioned Project 81 properties, what does Noble get? $1,000,000, plus 20% ownership. That deal is so ghastly bad, it had to have been made for someone special.