Just my thoughts on the split. Lets start with Neil he is a smart guy and obviously very patient. I believe his big regret at the jbl is the ugly marrage with KWG what a waist of effort just trying to drag that parasite along with us. Neil was smart enough to get the 6mill from the PP, and with time and the other companys results in the area he would be able to go back to the market when our share price was a lot higher, and having done this with very little delution. My guess was for 10-12 mill for another year of cash. Boys and Girls make no mistake about it we have the goods and beyond Neils dreams.
Think about this KWG 5-5.5 and SPQ 6.5-7 yea right kiss my $#^&.All the players thought 1 year ago they had money to run the drill programs and now they all know they need to budget 5 times that amount. The ore bodys are more complex and valuations even more elusive. We are going to 1200 meters and we need 50 million of real money. Spq needs the rollback and the brokers to let this up from under thier greedy thumbs.
The only way the plan would work is to roll back to a maximum 3-1 and issue 1 warrant for every 3 prior to the consolidation.The warrant would entitle the holder to purchase 1 share at a 50% discount to the consolidated share price at the close of the first day of trading with a standard hold period.We would have a clause inserted in the share holder rights plan that in the event of a unsolisited offer the roll back was Then reversed and and we keep the warrants just like the way the brokers pimp us.
Our home has more than 1/2 mill shares and thats a lot of NO' s