SPM looks like it has some good assets to exploit. My concern is cash and dilution.
State of play:
Current $1.2m cash
Qtr 1 burn $500k
Qtr 1 grants etc $500k
Qtr 2 grants $700k
Qtr 2/3/4 burn $k???????
Some notable 2012 objectives from activiity report:
- Construction of a pilot plant and processing facility (doesn't sound cheap)
- Financial modelling and valuation
- Mining lease
- Environmental assessment
You don't need to be a rocket science to join the dots. Looks like a capital raising could be coming some time in the very near future...
Just my HO, DYOR
SPM looks like it has some good assets to exploit. My concern is...
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