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Ann: AGM - Withdrawal of Consolidation Resolution-SOC.AX, page-84

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Dazedandconfused

7,568 Posts.

2082

21/05/16

12:38

Post #: 17830961
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Originally posted by vontrader ↑

I don't know what you're on about 1 hole. No one suggested to do a single hole, and SOC themselves announced on 19 February 2016 that they had multiple shallow and deep holes planned - cost for that <$500k (include or exclude the grant, it's a non-issue)

Rather than follow through, they did a rights issue on the back of it

Also, who suggested the entire conductor would be DSO grade ? What was said that if it has DSO grade at surface, then surely conductors of that size at depth warrant testing

As to your "on the back of busted a geo's ideas who couldn't put it together when they had the chance though." then you're either referring to Leu or Kennewell which is low. PMR never had funds to drill as Hudson preferred to leech fees and continue to fund it via SOC rather than do a CR and dilute the register. They planned to raise large money on the back of Mt Adrah, then fund PMR - instead they made a meal of it and drained the company of its last funds on the way out

And how am I using hindsight free of risk ... Halls Peak hasn't been drilled. There is no hindsight, there is historical drill data and various other surveys that suggest it warrants drilling - that is exploration

Call a spade a spade. GTT took a low risk punt $105k on an Li deal in the hope it would rally to some overzealous market cap like many peers, it hasn't worked

So now back to Halls Peak ? Or with $3M after the rights issue they could probably go tech with an expedited relisting not having to raise capital ...

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Hi vontrader

Very well put.

If ever we needed proof of GTT's inadequacy to judge exploration potential Friday's announcement of their Lithium option is all that is required. Absolutely appalling. What a farce.

SOC Price at posting: 0.6¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

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Ann: AGM - Withdrawal of Consolidation Resolution-SOC.AX, page-84

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Ann: AGM - Withdrawal of Consolidation Resolution-SOC.AX, page-84

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