Emma, they just said the have enough money in the last quarterly. Now they are saying they may have to raise upto 20 million. They are not doing this for salaries or all on acquisitions.
I believe it would probably be for getting us into production, Did you think we would get into production with 4 million that they have. You should be happy that they are planning for the big picture. I read someone posted that they should get a bank loan to fund projects into production but in todays economic situation it would be a hard task. Get i tier 1 partner in you say? Less cream for us. Togo needs tier 1 partners because it is massive. The other projects we have would not be on that scale I believe.
I would have liked to see the wage increase being asked for be left till later as all of us would agree that it would be better to get the sp up before asking for that. Most of us are suffering with the low sp so maybe they should feel our pain a little and not ask for it now. Flip side is maybe the sp bolts up before the meeting and we would be happy to give it to them.
If you think the sp will hover around her forever you must remember the directors have their new share at 2.2cents. They would not have implemented this unless they were looking at multi-bagging this stock. If they just wanted to live high on the hog they would not be asking for the cap raise now as the have enough bucks to pay wages for a at least a year.
Please also remember that there are hundreds of other companies out there suffering with the crap the world is going through now. Six months ago all my holding were green. Now only a few.
Lets all see where this is heading in the near future before we get to critical.
SSC Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
