stocks for next week dec 1, page-7

gloveski,

No worries,




STB
3 Main Projects
Potash - Eritrea
Gold - WA
Ni/Cu/PGE - WA (30% STB)

Placement at 20c to be used for financing gold project in WA

5.5M shares @ 20c for ~A$1M cash
55.7M shares @ 22c ~ A$12M MC.
EV~ A$7M (not inc options at various dates to 2014 from 20-50c ex)
Cash A$3M
Listed investments ~A$2M


The gold project has driven the sp however their nickel project (although STB only has 30%) looks more interesting imo with wide low grade zones of nickel,copper,and PGE's intersected, market has yawned but definately worth drilling deeper for higher accumulations of sulphides which is exactly what IGO are doing.


Assay results for both gold and nickel projects are possible this month.


The potash acquisition looks somewhat similar to ELM recently, although perhaps more advanced? ELM
trades with MC +A$40M with just this one project...,Eritrea factor is perhaps main issue for investors.

Two main issues perhaps are they have no defined resources and company has changed spots a few times, seems they have got three projects now from which anyone could seriously re-rate the company. There is alot to like about STB looking at recent results, and current EV is not taxing, would be inclined to use the pullback due to placement with further results on the way from projects which significantly lifted sp previously. Drilling is also planned early next year on potash project but may require deeper pockets for this work.


Chart - Second consolidaton pattern seems only interrupted by placement, bullish volume patterns.