There is no doubt about it, the cash will run out eventually. With over 3 billion shares out, raising more cash gets harder. At the moment we are paying for services through share issues.
If SEGs gold and/or Lithium turn out to be worthwhile, they will need lots more cash so they will need to rationalise.
To me the SEG saga is a waiting game.
One possibility is that MMG continues to invest $6.5million before Dec 19 to acquire 51%.
Remember this date comes forward if the cash is expended earlier than Dec 19.
MMG is able to expend a total of $14m to acquire 70% of the 8 nickel tennements at Plumridge.
IMHO, if MMG current survey leads to a drill campaign that identifies significant nickel, there is every chance that MMG will come up with an offer to buy the whole of the 8 tenements.
Cash problem solved and SEG moves onto its other prospects.
AIMO of course.
Cheers
M1
SEG Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
(20min delay)