When the company won't update us publicly it is time to do some research.
In a previous email from the company it was disclosed to me that they had applied for government funding for drilling Behemoth and that they expected to know the outcome by the end of May, it was claimed that this information was not considered sensitive and therefore could be disclosed to me.
Given the lack of update I did some research tonight and found that the winners of this government funding is actually publicly available information and lo and behold the Round 19 application winners for EIS co-funding for drilling recently announced includes our own Maria Resources for the drilling of the Behemoth project. This entails co-funding of up to $150k, meaning that the government will fund half our drilling costs up to a maximum of $150k provided the drilling is completed by 30 June 2020.
The target commodities are of interest, I knew they were targeting gold, copper, nickel and cobalt but was not aware that SOR was still in the hunt for Rare Earths (REEs). That could be of interest to investors as Rare Earths are on fire at the moment with the Trump trade war escalations potentially impacting on Rare Earth supplies from China to USA.
This is the same scheme which Maria Resources was a successful applicant for in Round 15 in 2017 for the Lennis project:
Based on the terms for Round 19 drilling I presume that the funding for Lennis has now lapsed given it is yet to be drilled some 18 months after being named a successful applicant.
SOR Price at posting:
3.2¢ Sentiment: Hold Disclosure: Held
