Collyn - IMO SIR has done the right thing and banked the money now if they are going to maintain their aggressive exploration and development spend and alleviate any cum-issue concerns going into the new year (which may correspond with a period of market weakness if we are hit by more US debt ceiling and QE tapering issues).
SIRs scoping study has given Creasy a very generous valuation at US$10/lb and IMO it may be better to monetise his direct equity (and potential influence) in the project through staged milestone payments, royalty streams etc while not increasing his shareholding in SIR (noting that he still holds many 2014 options and will also have to stump up his share of development capital). I would certainly reconsider my current position in SIR if it owned 100% of the project and Creasy held <20% of SIR.
SIR Price at posting:
$2.61 Sentiment: None Disclosure: Not Held
