RE:These will start trickling in soon... $4,000,000stockwatcher7,
I have posted about these warrants several times. These are 100% being exercised in the past 1.5 weeks since this run up. SIC is on its way to $20m in cash which I posted about a week ago.
1. $4M+ cash on hand
2. Assume the 20M warrants being exercised at about $0.20 NOW = approximately $4m
3. There were about 10M other warrants at lower price which some may still may be partially outstanding since the last filed quarterly F/S as of December. Say this yields $500K approximately.
3. $6.5M new PP
This total = $15M
4. 13M warrants from new PP at $0.40 which likely will be exercised after the 4 month hold and if the price runs up later this year would yield $5.2M.
Phase 6 expanded to 50,000 metres has about 40,000 metres left. So per Tim, at a all in drill/assay cost of $150CND (use $200 to be conservative), the cost of the remaining 40,000 metres would be $8M. Even if you add corporate costs and other misc. items of $2M over the next 9-12 months, the Company is cash strong.
This is a huge accomplishment by the company and Tim.
I also consider the above information factual with very minor assumptions on the warrants which I based on my experience.
GLTA
BC