pheenstar, I'd imagine that the funds SRQ receives will go towards paying off the debt when the loan is finalized late Feb.
SRQ has AUD$21 million in the bank (Sept Quarterly) . SRQ is cash flow positive.
Tick Hill was on the agenda for disposal or otherwise.
" Options for this project are currently being considered." (Sept Quarterly)
"Tick Hill (100%): The Tick Hill prospect, comprising the Burke River (EPM 9083) and Monastery (EPM 11013) leases is located in North West Queensland, south of Mount Isa. Chinova Resources (previously Inova) had two exploration Joint Venture agreements covering theses leases where Chinova was the operator and had the right to earn up to 70% ownership. Chinova has withdrawn from the joint ventures and the tenements are now held 100% through a Straits subsidiary with no encumbrances.
The Tick Hill project is considered prospective for both Cloncurry style IOCG and Tick Hill style gold mineralization. It has excellent exposure in the world class mineralized Mid Proterozoic Mount Isa Inlier, in an area with well-established regional infrastructure.
Options for this project are currently being considered."
SMD Price at posting:
3.2¢ Sentiment: None Disclosure: Not Held
SRQ Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held