I really hope you are right for all holders, however even at current MC of just under 9 Mil some may argue there is already some expectation built into the share price.
For me I was only really looking at there SA assets. The Fe grades that they came up with were fairly mediocre - with the positives that the target zone is very shallow and in an extremely good location in terms of nearby infrastructure.
The other major prospect Ridgeback is a much deeper prospect from memory.
With the proposed drilling program for the year they were never going to have sufficient funds and a cap raising was inevitable.
The key will also be to maintain support from the two major shareholders CITIC/Talbot. If they are looking to offload or not participate in the upcoming cap raising the signs would be very ominous.
SNU Price at posting:
8.0¢ Sentiment: ST Sell Disclosure: Not Held
