this is exactly what i'm talking about when i say sqm take the (only) deal they can get...
today chn announce they have done a deal with northam resources, on land which is close to julimar, and land that northam resources aquired before gonneville was "discovered".
the deal: $150,000 cash just for chn to do due diligence. $two and a half million up front in cash and shares by august (about two point six million in northam resources bank account within weeks). minimum spend by chn of two million before it can exit the deal.
that's the type of deal that sqm could not do with tmb because tmb got in late (after gonneville was discovered) to peg what they boast is the biggest land holding at julimar...inferior ground equals second rate deals and not necessarily sqm's first choice... just getting what they can get... it is highly probable that sqm approached other parties to do deals and found (as i said previously), that those parties with better ground were already tied up.
another occassion when lindentree makes a comment and his statements are very soon followed by announcements which back up his claims.
TMB Price at posting:
21.0¢ Sentiment: Sell Disclosure: Not Held
