Please do enlighten, $5.1AUD sits with NIDO, which has been sold...

Please do enlighten, $5.1AUD sits with NIDO, which has been sold to Blue Sky Resources as per the announcement on the 26/07, the farmout and associated payment were a condition of sale as outlined in the announcement on August 18th, this divestment sale can now be finalised.

I am not saying this is a bad thing but say SGC has $5.1mAUD is miss leading as it sits with Nido, they will receive $700K USD ($1m AUD) on closing of the divestment, plus potentially additional funds ~$1-2m AUD for the Long Lead items the prematurely purchased for this drilling program that they will try and sell, plus consideration for any Nido cost born since the 31st of July.

They still hold some upside to this drilling program with the bonus payment and royalty (which depending on performance can be significant).

All in all, selling this for a royalty is the right call, it was a pipe dream to think SGC was going to be able to fund this program. Hopefully, once this is complete they can move their focus to achievable drilling opportunities that can be targeted in the near term.

IMO