Imo they have no money and have been recently issuing share for services. Now I suspect they have seen the kick in interest over the last month on the back of FEX JV and see it as an opportunity to get some cash while we live in expectation of current exploration.
Call me cynical but I think they want to top up now whilst we are all hopeful just in case they come up empty handed.
Hopefully they won’t but they have been running on the smell of a oily rag for some time. This could be their breakout move.
If the JV strikes IO of reasonable quantities, they will be off and running. If they find Gold or REE they will need more money to prove it & will struggle on. If neither, I’ll probably be drowning my sorrows with a nice glass of something (funded by my FEX gains I hope).
SCN Price at posting:
7.6¢ Sentiment: Hold Disclosure: Held
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