Is TB any good finding Lithium ? You don't even have to produce any to make a quick buck. I think that would suit SSN well
On a more serious note I doubt it was the bank withdrawing further funding for Foreman Butte that has brought about this asset sale for 2 reasons. Firstly, that would be information that is material to the share price and they would have to disclose that to the market. Secondly , MOB only a couple of weeks ago agreed to extend both the term loan and the reserve base facility until Oct 2018 so there was no immediate cash crisis forcing a sale.
I suspect it was brought about as SSN has done a great job in turning the asset value from $15 to about $45mil and so time to lock in profits and do it all over again. TB does have a knack with doing a good deal so I expect some surprises if and when FB is sold.
Interesting times ahead.
SSN Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
