Interesting they can complete the annual report without stating exactly how many shares and options are on issue (over 915m if anyone is interested).
Making this number hard to find screams Cap Raise dead ahead. I wonder if it's going to be this week or do they wait and hope for some drill to find 0.2 of a meter of something 750m deep and make the usual great discovery announcement in the headlines with lots of the word 'potential' preceding the word discovery in the details. In other words more of the usual BS.
With over $30m Mcap for a junior driller, they don't dig anything, despite what one poster keeps claiming, is still way, way overvalued. There are plenty of junior explorers, some even with a declared MRE, with Mcaps way below $10m, and prospects equally good or better than this. for example one of the junior explorers I'm invested in already has high grade spodumene hits from near surface over 8m in thickness and is HALF the Mcap of this mob!!
Notice in the Annual Report the failure to honestly report what they found during the year just gone...
" Assay results for the 2023 drill programme demonstrated the presence of lithium mineralised pegmatites that commence from or near surface and continue to depths of up to 300m below surface. High grades – up to 1.77% Li2O – were returned in the assays, highlighting the potential of the pegmatite system to host high-grade mineralisation."
If they wanted to be honest, they would have clearly stated it was only lepidolite that was found, with minor patches here and there, not spodumene. Lepidolite of course being almost worthless, and very worthless in the amounts found.
So do we start the guessing game yet for what the upcoming cap raise price will be? Or do punters hope for the mickey mouse announcement of discovering some potential in the next week or 2. One aspect for sure, they will do the cap raise before they release the September quarterly. With only ~$1.8M in cash after paying outstanding payables, 3 months ago, the odds of them presently (as of the 30th Sept) being under $1M in cash is high.
As a WAG I'd suggest an announcement of something from Woolgangie showing huge potential, (when did any program of SGQ NOT show huge potential LOL???) followed by a few days of higher volume trading with the price possibly going down a bit, for a few days, after the initial oomph from the announcement, (sophs selling some shares preparing for the new issue as rumoured by their broker). All of course within the next couple of weeks.
These threads are a laugh, all the pumpers coming out with a sniff of anything, hoping to rope in some uninformed newbies. I wonder how many of them are on the payroll. I can't see any seasoned investors/traders falling for the same BS over and over again as has happened here countless times...
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