If they manage to get the resource numbers that Taylors is throwing around then SRM is certainly undervalued compared to their peers like SIR, CDU, SFR. I wonder how significant the sovereign risk is with regards to attracting institutional investors. I used to own IRN some time back and I know they have had issues but we are talking about a different type of play altogether. Nevertheless perception can sometimes be more influential than reality. The Ian Middlemas factor is very important with this one.
Regarding the porphyry at depth potential, I've heard this story several times in the past and am yet to see a company find such feeder system for the high grade hits closer to surface! I'm not saying its not going to happen as SE Asia is renowned for porphyry Cu-Au deposits and there are some indicators with SRM that there may be something there, but I wouldn't hold my breath either!
SRM Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
