What is surprising is in this challenging environment for commodities that SIR today has a market cap in excess of $630 million.
Absolutely mind boggling imo.
Look at the market cap of nickel producers.
MCR, as an example, has a market cap of $113 million including more than $60 million cash and is paying dividends.
Now compare with SIR which is producing nothing, needs massive capital injections to get into production and is also years away from any production imo.
Looking at the SIR chart I see around $2.00 as the next support level imo. It will be interesting to see if that holds.
SIR Price at posting:
$2.74 Sentiment: None Disclosure: Not Held