Interesting thoughts there. A large player may indeed be...

Interesting thoughts there.

A large player may indeed be interested at some time. Personally i cant see management being open to that until they have at least defined what they have found ( if anything of significance ) with a lot more drilling. They would be stupid to lose their leverage at this early stage. Direct exposure via Peel stock gives a lot more bang for the buck than via SBM or other scrip.

Management IMO know they have the backing of HHM & associates with close to 30%. Add managements 15% stake & that totals 45%. An impossible hurdle for any bid other than one that has HHM's and managements blessing.

J.Pitt is just too much of a smart operator to accept a bid, scrip or cash from anyone until he is satisfied he knows the extent of the deposit.

If drilling intersections continue to be impressive then the stock will move up substantially from its current level. Funds for drilling wont be a problem if the shares are selling for $1+. At that level a small placement will provide all the money that is needed for drilling.

Going to be fascinating to see what unfolds