SDV 1.01% 49.0¢ scidev ltd

Ann: Appointment of Project Director - Lewis Utting, page-3

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  1. 420 Posts.
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    I agree with your comments Marcellus
    Mind you, it will most likely be a good 12 months before progress, if any, is made
    In the meantime his salary and the costs associated with the Tartana deal will just add to the cash burn. I also notice that the 15 odd million Tartana shares SDV are about to receive are escrowed for at least 12 months so there will be no short term in specie distribution to us long suffering shareholders. And I also wonder how many SDV shareholders are likely to take up the "invitation" to subscribe for Tartana shares. Seed capital was raised at 10 cents and it appears the IPO will be priced at 20 cents and I suspect any short term cash flow from Zeehan will be allocated to the Q exploration rather than dividends to Tartana shareholders.
    I hope this bloke has better success than the last one they hired some 2 years ago to make inroads into Australian industries - wonder if he is still with the Company
 
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