Consolidated group had $1.5M+ in cash and cash equivalents, with holes roughly costing $300k.
Self funding holes GHD005 and GHD006 was possible but there was clearly someone trying to keep the price surpressed below 23c if you watched the matches and instos were waiting off screen for placement.
They obviously didn't want speculation of a placement for another 3 - 4 weeks with further good news such as wider intersections of 2g/t+ and a large extension to strike falling on deaf ears as punters hold out for placement.
Better to get some nameplate funds/instos on register now, still with assays for hole GHD004 to follow, holes GHD005&6 and the extension to strike, 3D Ipol survey and drilling of other pipes - bulk of good news yet to come and now some isntos on register with incentive to run it.
With $ in the bank they can get aggressive with this thing. With chinese funding $21M elsewhere, nearly all $ raised will go into the Mt Adrah ground.
SOC Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
