I'm bobbing in the ocean again.
We were told July 21 that the company was fully funded to advance preparations for its next range of exploration at its Big Red and Thunderdome projects and other Fraser Range projects.
This would not have included the recent Sidewinder acquisition 100% Rumble through the advice of the new Technical Advisory Board (October 5) who reviewed Rumble's current assets later and suggested this acquisition for the possibility of getting possible early cash flow by quickly drilling and developing it to work towards financing their larger projects to have time to develop them and get positive outcomes. There is no way they can finance the Sidewinder drilling when they are committed to the further exploration of Big Red, Thunderdome and the other Fraser range projects and they must have them going on as well, without getting more cash.
The Advisory Board has obviously said that they must be producers quickly or else they'll run out of steam. Now they have made a shareholder share purchase offer for holders who held on October 9th at 1.8c. Now this would be fine if an announcement comes out with positive results in some form from results achieved or a Joint venture proposition (and you would think something should happen with all the resident geniuses involved to increase the price). From my experience this normally happens with other companies to value add the proposition. If this does happen shareholders can sell their holdings at a higher price and purchase back in through the offer if they want. If something positive doesn't come out soon the the sharks will come out pick them up at lower than 18c as has happened today.
Welcome to the world of Spec trading.
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