SOR have 1.7m cash in the bank. i think theres a chance they could raise more funds before christmas.
surprised they capped the Sept SPP at 1m and that was at 6c.
they could do a big institutional placement and raise about 2m.
not saying it will happen and as a current SH id prefer they didnt, but it's the CFO's responsibility to keep the cash balance healthy and ive seen many companies take advatnage of times like this and raise funds while the interest is sky high, from the company's perspective, its the prudent thing to do.
if Behemoth drilling fails, they will need more cash to drill Leviathan and to keep the robotics BAU going and they wouldnt want to be raising at 5c
all imho !
SOR Price at posting:
7.7¢ Sentiment: Hold Disclosure: Held
