SIR released an update today ..... was pretty good .... SIR closed @ $3.95 giving them a MC of $1B+
Highlights were 10 year mine life with LoM rev $4.5B .... not including further discoveries.
Start up - Capital costs $473 Mil. ...... underground mine
$58 mil cash
No finance, no off-take agreements in place.
Seems to me SIR are no closer to production than TNG.
Mt Peake has 20yr LoM with LoM revenue in excess of $13B ..... not including recent discovery.
Capital costs $~350mil ..... simple open cut mine
Cash ~$5m
TNG MC @ $0.24c around $133Mil.
4 Mou's under the belt with potential binding and finance packages imminent ........ Begs the question ....
Why isnt TNG where SIR is?
TNG ... MC of $1B ... why not?
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