Re: The Warrants... Rod
posted on
Oct 20, 2008 04:04PM
Focused on becoming a near-term Gold Producer
Rod:
Exactly. According to my calculations, if you include last tranche of PP that is inevitable and associated warrants, if SGX share price gets into the mid-20's or so they would realize $5.7 million via exercise of outstanding warrants in addition to PP $3.75 million just raised. That's $9.5 million total. More than enough to poke more than a few holes into East Jacobus. Don't forget about Ni-Cu Jacobus "continuing geochemical study is designed to evaluate the possibility that the currently outlined disseminated mineralization represents a magmatic conduit from a large body of massive sulphides at depth" that may also deserve a few holes. $9.5 million more than enough to finance throughout 2009 and beyond IMO.
For reference, last PP of $5.48 million last October plus about $3.2 via warrant exercise (total $8.6 million) was enough to drill 1500m (71 holes @ 200m per hole) at Onaman, 2500m at Gold Hill, associated assays, East Jacobus aerial mag surveys, stripping, trenching, and sampling, a very nice bridge (LOL!), and much more during 2008 (including preliminary exploration work at Paint Lake and King Solomon's Pillars).
red911
Number | Price | Amount ($) | Expire | Notes |
937,500 | 0.22 | 206,250 | Mar19/09 | MineralFields Group; 2 hidden placees |
150,000 | 0.20 | 30,000 | Mar30/09 | |
3,651,500 | 0.18 | 657,270 | Jul11/09 | 25 hidden placees |
1,786,000 | 0.25 | 446,500 | Sep1/09 | 3 hidden placees; 0.19 1yr, 0.25 2yr |
5,428,570 | 0.25 | 1,357,143 | Oct12/09 | RBC 2,499,999; 2 hidden placees |
7,800,000 | 0.20 | 1,560,000 | Oct17/10 | "group of institutional investors" |
5,000,000 | 0.20 | 1,000,000 | Oct20/10 | MineralFields Group |
2,200,000 | 0.20 | 440,000 | Oct??/12 | TBA |
26,953,570 | $ 5,697,163 |