phone call regarding mt adrah ipo?, page-4

Personally I hope the IPO fails.

What I would like to see is some other kind of funding which comes in to replace Bergen.

If SUGEC commits more funds and the 2M already committed to drill Martins Shaft turns up something interesting that should stabilize the SP.

If the IPO flops the results from the current drilling can be released ... well lets see what they found.

Bergen are going to continue to sit on the SP. So far, as I read it, SOC have only used about $200,000 of the facility. Still fairly cheap to get out [provided there is no nasty fine print in the contract]. I would much prefer SOC to raise $500,000 @ 5 cents to fund the company for the next 12 months, get Bergen off our backs and give the SP a chance to recover with the SUGEC JV humming away.

With the current uncertainty of the gold price, raising funds for a gold explorer right now is poor timing. In six months time it is very possible a better climate.

If SOC's SP recovers, then a CR within SOC and those funds being directed to Mt Adrah means SOC could then increase its holding of Mt Adrah Ltd.

I think that would be better for existing SHs.