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Bullboard - Stock Discussion Forum Santa Barbara Resources Ltd V.SBL

Metals & Mining Industrial Metals & Minerals

TSXV:SBL - Post Discussion

Santa Barbara Resources Ltd > Financing?
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Post by fleeinggrandich on May 14, 2013 11:01am

Financing?

Has SBL said anything yet about a financing?

Their YE financials said they felt they'd have to finance in 2013, and since the share price has bottomed out here I'd assume one would be happening soonish.

Comment by tpaymans on May 14, 2013 12:17pm
I wonder if they need money now due to the LOI with RIO they get some money tfrom them! I bought just an other 7200 shares makes my total to 32600 and I will buy more.
Comment by fleeinggrandich on May 14, 2013 12:40pm
They knew when writing their YE how much money they'd be getting from RIO. I guess ~$400K isn't considered sufficient bank for the year, even with a low burn rate and RIO paying for the drilling. At the same time though, from what I've heard, when RIO bought their 8 cent shares there was the option of a bigger share offering but the parties decided to not go thru with it. I guess that ...more  
Comment by tpaymans on May 14, 2013 12:57pm
That  would be nice rocketing like CXO but I guess that is only there and not here! (as always) But hoping for good drill results anyway!
Comment by fleeinggrandich on May 14, 2013 1:01pm
The rock is good, it shouldn't trade for cash.
Santa Barbara Resources Ltd