Not to mention they have only elected for initially $1M worth of funding - conveniently overlooked
This funding is for working capital purposes, likely corporate overheads and therefore unlikely to be further draw downs in 2014 based on previous spending + a review of current cash in bank
They still have the $21M funding from Jiangsu for 30% of those 10 tenements and the deal from Singapore on Mt Adrah
Anyone who thinks SOC will get stuck with this and have to convert have obviously only been here for 5 minutes
Just as they did with ICP, they have an out with this deal clearly stated in black and white in the announcement - very likely those companies you listed just blindly accepted funding with no T&C's to protect themselves nor the option to repurchase during the term
This isn't a difficult thing to understand, but see if 2 threads clears it up
SOC Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
