Has anyone read the presentation?
Cerberus
Underground deposit commencing 64m from surface, Mine is high grade, continuous and extends over 1.4km to a known depth of 700m & 400m wide. Drilling indicates significant resource expansion likely. 110 drill holes for 32km completed ~50% of deposit in indicated JORC category. 15 drill holes for 14km required to complete resource/reserve drilling at depth. Mineralisation open in several directions.
" Now lets compare SIR results of last 6 months....
Their 3D model shows on page 19,
(http://www.asx.com.au/asxpdf/20121114/pdf/42b5x2x1fnbmqn.pdf )
90 Drill holes, 500m plunge extent, Up to 400m wide, up to 60m thick. " *** possibly extends 2km not prooved yet***
SIR's resource is growing larger but I don't see why SIR is at $2-$3 when the difference in size and grade to that of Cerberus at this point is not much, there is still plenty of room to grow aswell for Cerberus, let alone whats under Mt Windarra and the rest of the tenements.
Once people actually realise the size and potential of huge resource upgrades for POS they may start jumping aboard. Lets not forget POS has all infrastructure in place and will be producing concentrate in approx 1 year ready to take advantage of the increasing favourable market conditions coming. When and where will SIR be at this point? Nowhere near production let alone in a comparable position to take advantage of up coming market conditions. With SIR's registry at about 218 million shares plus god knows how many more options and POS around the 420 million, so at a similar ratio then POS at current comparison should be around $1.50 minimum. These are all rough estimates but POS is so under valued at sub 20c it is beyond a joke. OR SIR is so overvalued it's ridiculous.
Things will happen soon enough. Hang on...
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- Ann: Investor Presentation USA January 2013
Ann: Investor Presentation USA January 2013 , page-5
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