Sokoman Minerals Corp V.SIC

PP mostly to Sprott

[BlueChipper2020]

https://ca.finance.yahoo.com/news/sokoman-announces-non-brokered-private-141500073.html

I wrote about this just days ago that I wanted to get us moving higher before a PP. I was hoping for a larger raise at a higher price. Oh well. We are funded now for the year easily and into early next so it gives us good time to move higher.

GLTA
BC

[likeike]

Agreed BC but he is getting the jump on the Zoom PDAC and well ahead of  the June PDAC. I do think this will be a shake out year and hope we can get the barge out on the lake early. IKE

[ggnewmex1]

Although $4 mil is a drop in the bucket to a billionaire, Nonetheless, one does not become a billionaire by being foolish. This is a nice additonal vote of confidence in what the rest of us strongly "suspect" and believe. I bought more today as well. I am holding for the long term. GG

[Goldred]

Hi BC,  I spoke with IR today.  I was told that this specific raise was for "flow-through" projects.  They are excited about Mr. Sprott's investment, but also wanted it open to others. Also, you may get your wish, I specifically asked if there would another raise later this year.  I was told that "yes" there probbaly would be toward the end of the year

[BlueChipper2020]

Thanks Goldred, So my take is the following: 1. We know that SIC had "$9M plus change" to quote Tim from the most recent webcast.  2. This $5M raise will give us around $14M.  If they will spend about $500K in monthly drilling that is about right per my estimate. If you figure around 30,000 metres at $200CAD = $6M in total or $500K per month.  Also you have to

[Hedge99]

Half a million means there is enough cash for 18 months or so. Why is there a need to dilute now?

[Goldred]

That's just on drilling expenses.  Plus, it will probaly be higher with fuel costs surging on a daily basis.

[AlwaysLong683]

I don't know what "flow-through" projects are...?.....SIC issued flow-through share units. A company like SIC is often able to get a higher purchase price via offering flow-through shares / units vs. a simple equity raise as Sprott will be allowed to claim tax deductions the company cannot take advantage of because it does not expect to have any net income for a period of time so

[Goldred]

Regarding the most recent share raise, she said flow through projects which my interpretation was that the majority if not all of this raise was for projects other than Moosehead.  I could be wrong in my intrpetation, but not in what was said by IR.