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Sovereign Mines of Africa – when’s the cash call?

By Tom Winnifrith | Friday 20 September 2013


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


We have had the pump now when’s the dump – the placing of new shares ? It is now only a matter of time for AIM listed Sovereign Mines of Africa (SMA) which at 3.5p is valued at £8.3 million. The company is clearly sub scale as a gold explorer and its cash position is dire. Come on Sovereign – it’s time to fess up: how much will you be diluting shareholders to hell and when? I am sure that your slimeball broker Jerry Keen of Shore Cap is already on the case.



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