Guys, they already announced on 5th of June with $5.1 millions capital raising at 85c which Mega will take 5% and the rest I belive going to the UK investors. They will seek approval for the placement at the GM on the 17th of July. In the meantime, I can't see SIM will trade below 85c but I think they will have to push it up to make it attractive for the major investors such as Mega Uranium which I do not believe they will be happy with 5% holding. I am looking at above $1 soon as the uranium sector is still hotting up with OMC now got a higher bid from Canadian uranium company Denison.
SIM
scimitar resources limited
