Post by
mrmomo on Dec 06, 2022 10:33am
Don't forget folks.....
Though the PP was pulled, Surge still needs to raise capital to have enough money to continue drilling on their properties and to pay for overall expenses. Just because they withdrew that dreaded, ill advised financing, doesn't mean they won't try again. And they will because they need the money if they want to advance those properties in any meaningful way.
My guess is that they will come out with another, new & improved financing deal in the next few weeks, probably anywhere between 0.15 & 0.25. Which is alot more reasonable than that awful one they announced recently, and withdrew accordingly. But STILL way below current market prices. I don't very much they will be able to find an investor willing to pay close to current market prices, very doubtfull in my book.
If they are able to or are lucky enough to get some decent drill results from their current drilling programme on their nickel properties, it may absorb & mitigate some of the selling pressures which will come from further potential diliution. So look out for that NEW & IMPROVED financing deal and maybe some update on their BC assets..........very soon.
GLTA