The current board members made this placement move before the 249D etc. formally took place. SCI's cash has been run down over the months since the raises in 2018 (which were intended for Copper Blow) with little tangible field work at Copper Blow (although its close to an initial resource estimate since the old board were in place) and so the company would ordinarily need extra funds; our company does. It will be interesting to see where the extra votes will go from the placement if the 249D progresses as expected. Where would the new holders loyalty go I wonder ? The nominee board are seriously strong contenders as is known by many in the mining/geology and investment arena. Ultimately its not a charity and all investors whether new (placement people) and old will use their heads and wallets to make their decisions I suspect.
Prof. Plimers connection with CBH Resources, (Toho Zinc parent company) relationship being 25% partner in Copper Blow is a big positive as are the widespread relationships Prof. Plimer has with huge names in mining such as Gina Rinehart being a valued member of a number of her private companies as board member. There is no doubting the immense knowledge Prof. Plimer has at Broken Hill and in mining and geology and what that would bring back to SCI in to a great future in 2020.
JFI
SCI Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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