looks like SMD have more prospective areas than they have cash to explore....splitting into Northern & Southern Hubs interesting...i think the earn in commitments for some of the Southern Hub ground > SMD's current cash balance.
the new mgt team really do seem to have reinvigorated the direction of the company, and the ground looks very inviting. They do have $2m but it looks to me that more capital is needed. Wondering if they are going to restructure the earn in arrangements to help with cash flow, raise via a rights issue, shake the tin with the SIs or potentially even look at a spin out...
watching with real interest - again!
glta
looks like SMD have more prospective areas than they have cash...
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