The initial Registration Statement (also called the Preliminary Prospectus) was submitted in May. Its content was generally the same as the Prospectus submitted in September although without having exhaustively checked some of the financial data may have been updated. There are therefore reasonable grounds for thinking the SEC would not be entirely unfamiliar with the document. They have now been assesing it for over a month. How long does it take?
The SEC is being asked to approve a share issue to raise funds to be largely applied to drilling on an SEL which has ceased to exist since the Prospectus was submitted. This could well be causing them some puzzlement.
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