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Ann: Major Shareholders Exercise Options Early, page-5

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no-idea2016

2,645 Posts.

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29/03/18

07:33

Post #: 32105062
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Originally posted by seals ↑

Hi Contra. There was no cap raising required with $3 million already in the bank before this. Not for opex and exploration anyway, Luke's covered for at least the rest of the year there, now well into next.

However there will likely be some capital raised to get Fungoni up, a $20 million project once mining licence is sorted. Exercising options now perhaps reduces a bit the equity portion required of that but would likely have done so in any case.

I think it's more about the key players making a clear statement that STA is full steam ahead. Won't shift the market in current sentiment but at least gives other shareholders confidence to ignore the short term general market conditions in the absence of the world economy flippling.

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Luke regularly releases excellent news and yet the share price is still abysmally low. How are we ever going to break out from this low point?

STA Price at posting: 12.0¢ Sentiment: None Disclosure: Held
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