SIC will have $20M + cash on hand Using the December 31, 2020 last interim FS filed and from what Tim has said recently on podcasts:
- About $4M cash from previous
- As of year end there were 32M warrants outstanding with average exercise price of $.22. About 22M of these warrants expire August 15th, 2021. The holders are largely exercising now with the run up in price which has been sustained and being absorbed by the market. Rough calculationi is this yields the company about say $6M.
- Today's PP of $6.5M
- 4 month hold for 13M warrants at $.40 which will yield $5.2M.
FOLKS THE TOTAL = $ 21.7MILLION.
Even after the remaining 40K metres or so of the new 50K program, there will be a lot of cash remaining. So the Company is cash strong. This play has been significantly derisked IMHO.
GLTA
BC