I've seen these shady strategies in this oil and gas game with companies that have no cash generation (SM is not alone in this) to keep some sort of prop on the share price.
If he was fully transparent would he have been able to raise at 10c in Zimbabwe probably not.
Would the Market Cap still be at 85 mil and still have the ability to raise say 10-15mil from the market if cash did become desperate if he bared all cards on the table probably not
So if he said in the April announcement this is going to take at least another 6 months for the PPSA to be finalised with some sort of real concrete plan with real timelines only released after that, would probably have seen the price at the low 4s even 3s vs we have a new drill target and the PPSA will be finalised in the coming weeks.
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