looks the real deal..., page-98

I notice a significant percentage of negative “guff” being posted about today’s developments...

Interestingly, this is more or less the opposite of what you normally see during the usual pump and dump....which of course poses the question, was it in fact a pump and dump?

Typically, during a “pump and dump”, about 80% of posts are super positive, talking of blue-sky potential and money making...but today we had nothing like this level of enthusiasm, with what appears to be mostly negative posting and talking down of the stock at every opportunity.

If I didn't know better, I would suggest some shorts got well and truly dacked today!

Looking more specifically at most of the anti-SIR comments however, one can’t help but feel many may have actually lost capacity to judge a stock on its merits...to actually investigate, assess and think about, then understand what is actually going on before them.

I have lost count of the number of "stock standard" dismissive responses I have read in these threads tonight...interestingly, they started not long after the open, intensified all the way down to the low 20’s on the early sell-off when some were suggesting the “pump” was over. And they continued to dismiss and generally ridicule the stock at 24c...and 30c...then 35c...and back down at 30c...then 35c again...then 38c...40c...42c...etc...

lol...at which point does one think...mmm...maybe I was wrong and should stop shooting my mouth off for the sake of it...who knows, maybe they think if they keep saying the same thing over and over, they will eventually be right?

It’s as if many in the retail market are on auto-pilot these days, one might even suggest they have effectively morphed into their arch enemy...the auto-bots...not thinking, just doing the same thing over and over, irrespective of the actual state of play.

Anyway...as it stands, not one of these "negative types" was right all day...not one...and yet here we are at the end of the day, after the market has well and truly given everyone a lesson...and still we see people moaning about how the results are insignificant, the market was wrong...blah...blah...

I mean really...how do people with no geological knowledge, or experience in analysing such things, even bring themselves to dismissing results they do not even comprehend?

Not one of the detractors today...it appears...actually spent the time to understand the results...and I have to laugh when I read that some think they are low grade????

Low grade...compared to what?

An intersection of 3.8% Ni, 1.6% Cu (and who knows what the PGE’s will amount to?)...is already the equivalent of about 9.7% Cu...in suphides...and the PGE credits could well be worth more per tonne than the Ni and Cu combined.

Remember, the above is just the high-grade zone...the actual mineralised interval that will be considered for resource estimation is 7m @ 2.41% Ni and 1.3% Cu...or roughly equating to 7m @ 6.6% Cu

Then, 55m up-dip they hit 15m of similar material...all of which has been intersected within a plunging EM target identified to be over 1km long, and with some 200m of strike!

Tabulate today’s holes on an inferred basis and you get about 130m of dip (55 spacing between holes, +20 up-dip, +50 down-dip using EM relationship), about 150m of plunge (75 each way again based on EM success), about 11m average width of mineralised ore zone (15m visual +7m /2) ...and assuming an SG of 3.5 (should be higher with this style of mineralisation)...and we get an indicative total of some 750kt of ore at the above 6.6% Cu equivalent...or some 50,000t of metal equivalent (~$370m)

All from two “dud holes”...I'm hoping for more dud holes!

None of this of course makes a mine...and so this is where speculation begins...

So we have to ask ourselves, given the nature of the intersections and their relativity to the EM conductor...do we expect they will hit similar intersections with future drilling...and do we think additional targets (already defined), stand a chance of success?

I think so...which is why I bought today...but some will not, which is why they were selling...and thus we saw the result of this simple equation play out today on market.

Today it seems, those who think SIR stood a chance of more success outnumbered those that did not.

It would be remiss of me not to also mention the corporate incentive here...perhaps adding a further piece to the value puzzle...the 75m unlisted 60c options.

There would be many who stand to make a lot of money if these get in the money...not to mention the benefit to the Company of collecting the $45m in conversion funds. It may well be the case that on top of all else going on, we also have people in the mix who, by spending a few million of their own money buying SIR, will make even more than that if the options get home!

Always lots of pieces to the pricing puzzle.

Happily holding from mid 20's.

Cheers!