I was trying to suggest that, if there is going to be another $50m raised for 3-5 months of further drilling, the two lead shareholders have an incentive to do the round before the share price (potentially) goes up 30-50% on drill results that demonstrate the deposits link up.
Once they have topped up, they then turn their focus to confirming the thesis that is being signalled, but not proven, at the moment.
It’s only one theory, and a pretty cynical one. But there is little to suggest that Tembo and Delphi haven’t been steering the board over the last 18 months. It’s all been pretty cosy.
Of course, there might not be a raise for another 3 months. Or maybe the raise comes in at a premium, as some seem to hope. Or maybe SPR gets taken out….
SPR Price at posting:
62.8¢ Sentiment: Buy Disclosure: Held
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