STK 4.55% 11.5¢ strickland metals limited

Ann: Sale of Millrose Project for $61M to Northern Star Resources, page-53

  1. 244 Posts.
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    Ok, this is a bit out of left field but I have been scratching what’s left of my aging hair wondering why we are getting hammered instead of galloping up the charts.
    why on Earth did our great leadership manage to not have a clause of no return of the 2 million if the deal falls over, surely we held the upper hand here, obviously we needed the cash straight away to keep liquid but what if NST pull out of the so called binding agreement ( these are not worth the paper they are written on ) and demand the cash back which with our spend happy crew would have gone through the bank accounts to near depletion ……opps, share price collapse and NST makes a full bid for the lot at the same cash outlay.
    Just plain old what ifs but would not be the first or the last time that the big boys have pulled the dirty tricks campaigns, our BOD’s are not too smart as some on here have suggested.
    the current sp is less now than before the buy out when all we had was stuff in the ground that we were unlikely to ever mine, not without a major JV. So I am leaning to a pull out by NST for whatever clause they can come up with. If that does not transpire, which for all our sakes does not, then we are sitting on a stack of money enough to get all our other tenements into the close to decision to mine scenarios, well at least one of them….60 million is a lot of drilling, could just about drill in every direction and at depth for that. I can imagine that we could get a couple of tier ones out of it.
    First things first though…..do we get it completed in a months time?
 
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