I talked to Mark at STS today, about 1/2 hour before closing. He said that there were some interested investors, but they wanted their own geologists to look at the property. He says that STS will lose the property by the end of the week without financing, so that type of investor is not an option. He said that there was one investor "outside the company, but close to the company" who knows the property and management well, and has been thinking "for a long time" of investing in the stock. He said that "this type of investor" would be the only kind that would be willing to put up money in the "very narrow window" left. He would not say if a deal was planned or near or whatever. I did not hear any glee in his voice. The answers were, as usual, vague and unofficial, but things sounded like they were down to the wire. With the Bre-X scare, he said that it's been difficult to find new investors. He said: "If we go down, we'll go down moving forward". Of course, any such quote, is out of context, when presented in print. I decided to get out at this point with a %50 loss....can always get back in if financing comes through.
Ken |
