Guruone, hard to know. Just unfair they did a consolidation on full shares and options, but there bonus remained at pre consolidation.
A nice way to keep control. 120k bonus for what also?
Lost 60m, the accumulated losses over the years, got ground near pennywest, raised cash specifically for that and just did Airborne and few holes and sat on the millions.
What's anoying there is Beacon resources got decent assays on two shallow holes and sbr did not go deeper on them, like spectrum did.
Wgst spectrum did was follow up and hit pennywest at depth. Sbr is on the strike on that deposit and its most likely under transport cover.
Beacon drilled before spectrum, so should have been revisited with that new knowledge.
Then raised millions more, sitting on it also, and recent release is want to raise more.
So that will be 3 raises with prior two not committed to exploration it was actually earmarked for.
And the sophs Keep giving. Anybody that took part in the prior two raises if they did not sell, would be on a loss today.
To me, if you have ground to explore you do it, or you should relinquish it, so somebody else can.
Now sherlock I do believe they are giving a good crack at, I just hope they see that through because two resources envelopes exist, there not to far apart and there both open and facing each other.
If at greater depth, intercepts widen, both shallower ore envelopes may in fact join.
Im talking another 200m or so deeper than they are.
SBR Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
