Ann: Superior Raises $2.0 million to Advance Further Drilling, page-139

It is quite apparent that the Board, with the blessing of the big holders it is assumed, has acted for some time with the intention of exploring without outside financial assistance, apart from Sophs that is.

It has gone to Whairo Capital for the last 3 raises, and varying discounts have been applied, some savage.

No doubt, the raises have enabled the Company to make very good exploration progress, including the critical matter of having it proven that Botteltree is a porphyry mineralised system. That fact should apply to Cockie Creek at least.

The company now appears to be on the cusp of discovering potentially minable ore at both Cockie Creek and Bottletree. It has raised $2m gross to do more exploration. That won't go very far, although I suspect that the bank a/c would be healthier than that though (see an earlier post). I am backing CC to be the target. If correct, then what about BT and also what about the foreshadowed nickel exploration at Big Mag/Dido?

On top of those 3 targets, Wyandotte and Steam Engine (SE) should be the subject of further drilling too. SE should need a larger resource so as to be viable.

So, it should be obvious to everyone that something has to crack if these 5 projects are to exploited. The Board would run the company into a sinkhole if it were to continue with going to sophs for money. Surely, it would not want that to even possibly happen, so is this the last soph CR?

If this is the last soph CR, then what is the money-raising plan?

SE revenue would be ideal, but that income would probably be about a year or 2 away. So, what about the meantime?

Is the Board punting on a big copper strike with the next lot of drilling? One that would attract a cornerstone investor for instance? Frankly, I cannot see any reasonable alternative.

But what if there is no big copper strike?