SP 8 cents
MC $47M
no debt but getting low on cash
SGQ is currently drilling a deep hole (1000m's) targeting a seismic anomaly at its Mount Alexander project in WA. Drilling should be complete in the next several days.
As with every drilling outcome the result is binary... i.e. find something or it's a "duster". A bit of money has come into the stock from the 6 cent range as a bit of FOMO has materialised. There has been some concern the company might do a CR prior to the result (as insurance against a dud hole) but that so far has not happened and with only a few days to go it now seems unlikely. However, the company will definitely need more cash soon.
It is worth going through the recent announcements to come up to speed on this stock if you are not already aware of it.
