Well im surprised they couldnt raise more than $1m and priced it...

Well im surprised they couldnt raise more than $1m and priced it so low close to the option price. Would have preferred a placement to broker clients who are not classified as Soph.

Soph funders are hardly known as long term investors and are sitting on an attractive 30% short term return provided they sell their 59m shares into some positive momentum.

Wet season coming up so not much drilling coming you would think. Im still not convinced they will prove up enough resources with what they have found so far including whats under trench 7 and 13 . How much resource does one need in this environment to call it a viable project. What other projects in the Philippines can it be compared to . I mentioned Red has 940K ounces indicated and 380K inferred.

To get an indicated resource is going to take some drilling and money. Even what they get from the option holders and the SPP i feel wont be enough.