Ann: Hannans - Appointment of Exploration Manager, page-3

re: Ann: Hannans - Appointment of Exploration... Peteski,
I believe that SCR did not have funds to continue with exploration. They have good results but still need a lot of cash before they start mining. After takeover the company has some 10mil available and that should keep them above water for couple of years. They know what is the market like now so let's hope they will not spend it all this year.
Sure Mr. Hicks bought some shares but he can hold them for next 5-10 years, I guess he believes that they will have mine in Scandinavia one day... and I hope too! I left two messages for Mr. Hicks in last 4 months but he did not return my call.
He must be busy with planning the mine or making deal with Chinese ;).

This company has good assets but mainly iron ore and who knows if they will ever produce one ton of it. I believe they have smart people on board and I hold the stock for now but I am not happy about the current price.

I will call Damien again next week.


happy trading