SRI 5.56% 1.7¢ sipa resources limited

Ann: Completion of 2 Diamond Drill Holes at Enigm, page-24

  1. 5,275 Posts.
    lightbulb Created with Sketch. 503
    re: Ann: Completion of 2 Diamond Drill Holes ... None of us likes to be disappointed when expectation is running high.

    But i think that anyone who is not a short term trader needs to take a step back and analyze the time line here. The Enigma secondary blanket was only discovered in August last year.Some 8 months ago !

    In the intervening period there was

    * a wait of several months for an R.C rig to be available

    * Mechanical problems with the R.C rig that plagued that program

    * the xmas shutdown period - essentially a month

    * Another program of RAB drilling.

    * An IP survey - ongoing

    * Which brings us to the current 3 hole DD program.

    They have not been wasting their time scratching their arses. Correct me if i'm wrong but the copper blanket now extends over at least a couple of sq km. Expecting them to be miracle workers and come up with the goods ( Primary feeder zone ) after 2 or maybe even 3 deep holes is being a bit unrealistic IMO.

    Short termers who follow drilling programs hoping to strike it lucky may be better off moving on. As this could take a while. Even then it may never happen.

    Personally i'm staying put for a while yet.

    The reasons that prompted me to originally invest in the stock are all still in place.

 
watchlist Created with Sketch. Add SRI (ASX) to my watchlist
(20min delay)
Last
1.7¢
Change
-0.001(5.56%)
Mkt cap ! $3.878M
Open High Low Value Volume
1.7¢ 1.7¢ 1.7¢ $995 58.53K

Buyers (Bids)

No. Vol. Price($)
2 61900 1.7¢
 

Sellers (Offers)

Price($) Vol. No.
1.8¢ 7009 1
View Market Depth
Last trade - 11.37am 22/07/2024 (20 minute delay) ?
SRI (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.