$4 million... that IS alot of cash for ALOT of drilling.  All proceeds of the offering will be used for the company's Canadian exploration program.  SGX has completed multiple PP's (last one being Sept 19th) to finance all currently announced drilling plans. 

Can't help but think SGX is planning (or has already planned) a drilling program at Jacobus similar to the agressive 60,000m program recently announced by Kodiak.  If the overallotment comes in fully subscribed (i.e. $5 million), I can't help but think the company or 'someone' already has some idea of how big this discovery is and that gold overflows onto Jacobus in addition to significant Cu-Ni resource already on the property.   

Great work by SGX mgmt to organize this PP.  Favorable terms for existing shareholders and also going forward.  Warrants will provide the company with additional cash.  Don't forget there are a significant number of warrants outstanding that will be easily in the money should current upward share price trend continue.  Also, all this expected to close ~Nov. 9th!

P.S.  Results due out soon!

Enjoying the ride.  Very long.  Here's to more exciting times to come.

red911