PEL 0.00% 1.7¢ pelican resources limited

finally taking off, page-4

  1. 12,600 Posts.
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    Well, we know that the company quickly raised the $500,000 at 6 cents per share as evidenced by the Appenix 3B announcement on the 29th of July.

    Next, we have the transfer process for the MPSA from Altai to Sibuyan Nickel Properties Development Corporation. We are told that this is in progress and will be concluded and settled upon payment of the consideration to Altai in accordance with the Option Agreement between Altai and SNPDC. With the capital just raised, I would have thought paying the cash over to Sibuyan would not take long but given that any Phillipine process seems to drag out to infinity, who can say how long it will take?

    Presumably though, once this is done, things could proceed quite quickly.

    We live in hope.
 
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