The financing was likely a convertible note that the former CEO did.
Next was the funding with a group called Harmony Mining Co. a company I could not find any information on.
Anyhow, the BOD voted down that financing saying it was not shareholder friendly so it likely involved more shares.
Remember, the former CEO died the end of August and Rod took over. He is stuck playing the hand he was dealt and working to recover from the damage done by the previous CEO.
But on the bright side, most junior mining companies take convertible notes to finance their prospecting efforts, many of them collecting more convertible notes year after year with little to show for their efforts. SIRG used those funds to pay off their 80% of the mine, converting then to an asset.
I could name over a dozen junior exploration miners that are existing on those convertible notes and sadly many of them have much higher market caps than SIRG.
SIRG is not an exploration company, but a company ready to go into production with funding.
LOAD THE BOAT
