Thanks but I'd say if they get this Lithium deal done then I'm happy to back these guys to try replicate the success they had with PLP over holders who are unhappy for reasons stated, I think many of you forget the cost upfront for this project is $105k in cash and 25m shares worth $125k at 0.5c or $150k at 0.6c so all up not even $300k in consideration. the rest of the consideration is out of the money options or performance shares based on a JORC
So what's all the fuss about?
I suggest you take a look at the consideration fellow ASX lithium hopeful GSC is having to pay to get a foot hold in Nevada up to $1.5m in cash plus $3m in shares not including bonus payments of $3m in cash or shares
The biggest sign for me is that directors have put their money down and on the line all this talk that they will sell into a rally is just speculation and probably garbage because I didn't see any director selling notices on the last spike when the deal was announced
I'd say this overwhelming negative sentiment would explain why SOC trades with an EV of $3m and GSC trades with an EV $30m or 10x SOC for acquiring a similar styled project in Nevada but are paying about 15x+ what SOC are
Also I have no agenda here other than to take a punt and make some money, click my name and you'll see I hold about 40 or 50 stocks so don't have any alterior motives in case anyone was wondering
Now if this lithium deal doesn't go ahead then that will be a big let down
SOC Price at posting:
0.6¢ Sentiment: None Disclosure: Held
