There was $875,000 cash at the beginning of 2019. That's just 1/8 less than $1 million. There was enough to test Copper Blow so why no work current board members ? ? ?
SCI never had any trouble raising money in 2017 or 2018 to fund Copper Blow investment in project exploration. At the end of 2018 an extensive system was discovered at Copper Blow and there was plenty of interest in this company.
A capital raise could have been put to shareholders in 2019 but nothing and no suggestion of any work. Of course you can't explore without money. Its not rocket science to work that out but you give shareholders a project worth exploring (Copper Blow) and offer a cap raise to them... but there has been silence. Nothing all year. Money doesn't grow on trees for explorers. You raise money from shareholders with a project like Copper Blow and with progress and good results more money flows to the company and the share price goes up and mkt cap goes up. But you hve to raise money to get something happening.
Using the $875,000 straight away and drilling for some good results would have been the way to progress and then you should have offered a cap raise to general shareholders. That's FAIR. But not using the money raised end of 2018 for Copper Blow was not good at all.
The lack of a geologist is also a huge concern and having directors with little knowledge in the field is dubious.
JFI
SCI Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
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