The biggest issue with SNG, is funds atm, they had sfa , before...

The biggest issue with SNG, is funds atm, they had sfa , before the last raise, and only raised approx 2.5m after costs, which to me said they were basically just trying to keep the company ticking over (ie paying the admin and directors fees and staff wages), for 12 months.

I am actually surprised that they intend to do some drilling , because the funds they currently have, won’t drill many holes, instead of the small raise that they did, I would have much preferred a larger raise, that was done as a share purchase plan to existing shareholders first, and any short fall underwritten by either management or the broker that did the raise, because the shares would have been in the hands of people that actually believed in the potential of the company, as opposed to Tik-Tokers, who refresh their phones every 10 minutes, and see how far under water they are.

The ground that SNG holds, has the potential to have a large gold system contained in it, and drilling is the only way to find any such system, so IMHO, SNG, would have been far better off, just drilling, as opposed to wasting time and money on MRE and scoping studies.

If they just concentrate on exploration, and get good results after good results, and the gold price and gold sector takes off, that is when, someone may come knocking on the door, just my opinion.

Why are many of the world’s central banks buying gold at record rates at present?, especially the central bank of China?, and that’s only what they are disclosing to the rest of the world.

As for the SNG share price, unless they hit something good in the few holes that they said they are planning on drilling, then unfortunately I think it is going lower, hope that I am wrong.