Soho Resources Corp V.SOH

What's going on?

[golddigger88]

What is going with this company?  It does not look like they have any money to get any exploration done.

Does anyone know what their money situation is at?  Soho has an amazing prospect in Tahuehueto and could be put into production.  It would also be a very good takeover target if the resource could be increased by 30% or so.

Bad management, good property.  I'm sure we've heard this story before....

[KnowledgeSeeker1]

Hi golddigger, I agree it doesn't look like much is going on.  It was driven down to 1 cent a while ago and then had a nice spike to I think 0.04 but I didn't average down unfortunately as I didn't have the guts.  The last M D&A I read indicated that they had raised $750k which I think was going to cover $600k in debt but certainly not enough for exploration.  

[golddigger88]

Do you think it would accept a takeover at 0.10 cents?  I can't see this market getting any better in the next year or so.  I think the gold and silver are great assets to the property.  The base metals are an extra bonus ans can be used to finance most of the project into production.  Although poly metallic deposits dont always yield favourable recoveries,  i think it

[KnowledgeSeeker1]

It's hard to say if they would accept a takeover.  Obviously they have had trouble doing financings.  I'm not sure how much the owners actually have personally invested.  It's a good question that I'll do some research on and get back to you. i've been in this play for a couple of years and am definitely disappointed but then I'm pretty much disappointed with

[golddigger88]

Rumour has it that they have a large Chinese shareholder.  That is perhaps why they have asian directors on the board. Soho is heavily diluted and that will hurt any sort of financing. It would definitely be interesting to see what you find out about the management shareholdings.    

[KnowledgeSeeker1]

Here is a link that shows the current major holders of stock. Of the 213m shares outstanding the major holders own about 65m shares or about 30%. As of May 31st they had about 690k in debt and on June 1st, 2012 they had a private placement for $750k and then a loan from a director in July for $30k. From what I can tell in the M D&A from July 30th, they aren't doing much exploring at the

[golddigger88]

Looks like Director Zhang and his relative almost have a 20% ownership. If they have lots of money, it could be a very good partnership for financing.