RE:RE:RE:why spin off?guy491 wrote: Sokoman with 4 millions in cash and he will receive another 4 millions before April 6....money is not a problem
sorry guy491, but respectively disagree. First of all, money will be an issue as the company needs to raise to fund FY 2023 and raise capital. You never wait until you have nothing in the bank to raise funds. SIC had $13M in cash only about 1.5 years ago? Many of us posted about it back then. Then it was $12M, then $8M and recently Tim said $6M. That number is down a bit now. The problem is raising capital when your stock trades at only $.26. SIC has had to do a lot of PPs at these low levels the past several years. This has caused a fair amount of shareholder dilution and the next one appears to be another at a low price. This is of course at a time when SIC has a lot of planes in the air (Moosehead, Grey River, Golden Hope lithium and now the cesium about 12KM away).
The funds we have now is not sufficient to sustain all the drilling in FY 2023 and still have a healthy treasury. Cash for 95% of juniors is always an issue to be concerned about.
We have many debates on how to proceed on this board with excellent points being made. However I do not think most on this board would agree that money is not an issue.
Also, you make it sound like the company is going to win the lottery on April 6? Where is this money going to come from? Exercise of warrants/options, PP I missed? In any event, it results in lots of dilution at these low prices.
Not sure what the heck is going on with Moosehead and I am talking about the barge drilling and other areas of the property. I know the drilling around the recent big hole is being planned after geological study. It has been more than 2 months since a PR when this property is why most of us invested here.
BC