"Reason for the Trading Halt The Trading Halt is requested pending an announcement regarding a mineral acquisition as well as an arrangement providing the continued funding of the Company."
Any thoughts from holders. I think it's got to be positive:
- We know that SAY cash reserves are getting a bit low (see last quarterly), so it's got to be a good thing that they are raising some cash to fund next stages of exploration. I would assume this is going to come from institutionals or one strategic/sophisticated investor given that the shareholders probably can't be relied on to put into their pockets. - The mineral acquisition. Not sure about the wording here . Acquisition of tenements/concessions? - hopefully minerals implied :) - however it could be re-acquisition of Ecaudorian concessions (though through my monitoring of Ecaudorian mining law news, I haven't been able to gleam any positive news regarding Ecaudor getting its act together). SAY have alluded to exploring other concessions, in South America, so it could be a play to get some more Chilean concessions, where the rule of law is more stable. Either way, both positive news, but I think the later would be a better strategic step.
On an aside, I think the results from Putu should be available soon. Start Feb 8-9 on aeromagnetic survey via helicopter. 40 km by 8km. I don't doubt this will be extremelely positive, however it's then a question of proving up resources, and then feasibility.
Any other speculation from holders? Good luck to all holders.
SAY Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
