St Augustine Gold and Copper Ltd T.SAU

Closing in on a Billion shares out ... more dilution

[singlefile]

St. Augustine Announces a Debt Conversion of $3.2 Million

03/30/2021 08:22 PM ET

Singapore--(Newsfile Corp. - March 30, 2021) - St. Augustine Gold and Copper Limited (TSX: SAU) ("St. Augustine" or the "Company") is pleased to announce that it has entered into an agreement with its creditor and major shareholder Queensberry Mining and Development Corp. ("Queensberry"), whereby the Company agreed to convert approximately CAD$3,232,167.25 of the amount owing to Queensberry into 70,176,859 common shares of the Company ("Common Shares") at a deemed price of CAD$0.046057 per Common Share (the "Debt Conversion"). Following completion of the Debt Conversion, Queensberry will hold 288,676,859 Common Shares, representing approximately 36% of the issued and outstanding Common Shares.

[shawshank2]

they are just going to keep squeezing the other shares then roll back before anything

[singlefile]

exactly what Eurosun did ... no mining just announcements, reverve splits and then more dilution, then repeat the cycle  - SAU is using the the same playbook as Eurosun ... big scam - making the lead shareholders a lot of money from the the runups (based on fake news) ...

[RealityCheck123]

No demonstrated economics and very likely uneconomical to develop.  Correct rapid_fire?