update, page-18

Agree to a point retrac.

The issue in my opinion has been the drought between news, and clarity around project viability.

For example, there is nothing stopping any one buyer who would like to take a long term position in buying the board - evidently this will change the SP in the very short term dramatically YET with no proper guidance why would any LT investor (particular large investor / insto.) buy into the SBR story?

There was an economically viable resource in Border, apparently a well thought out plan to have a production operation - this was going to be revolved around the Kaskara deposit; well SBR kind of walked before they crawled there! Not saying it was / is a duster YET this evidently did not go to plan?

Now we have a potential resource, JORC compliant come 1st qtr. next year BUT at the same time there is a great deal of focus on the other areas i.e. Schlangentel (to be fair this seemed justified) BUT I also read within the Annual Report that they are focusing on Eisernerhut (point 2. as to future SBR activities), yet this has been based on historical excavation and sampling, and that dream of chasing another pipe like structure similar to Tsumeb! - lest we forget Kaskara.

The reason why I have decided to not buy at these levels, even though I was buying into the campaign when we were well in the 20's and 30's is because it is starting to sound like Kaskara all over again! - of course I could be way off the mark YET given history and their passed actions I rather trust my own gut when there is no info. available - of course IF I am wrong please feel free to educate me?

After review I am starting to think that Guchab is not as high tonnage as first assumed, of course as Esteon has stated - you can not do this without a mining program right? - please! Please do not take this post as arrogant as I believe SBR has some of the best minds across all individual stock threads (between Esteon, retrac, qantum, sutto etc. - we could form our own company!) YET there has to be a sense of reality placed on any listed company as well.

Those are my present thoughts as to why we are languishing, continual seller or not - and who knows really!

NL