Their problem is shortage of drill rigs - and its not helping that quasar has most of the suitable drill rigs in SA (something like a dozen rigs) busy on four mile prospect JV with AGS. Once four-mile east is finished there should be some capacity available. A very frustrating wait. Maybe SIM should do what CUY have done and buy their own rig.
Getting disappointed as I have money tied up at a slight loss at the moment, largely due to the "May" phenomenon I think which is always hardest on specs. Patience is the key here - It will likely run once the usual May/June lull is over. Hopefully I'm looking back at 80c in three months time and kicking myself for not buying more!
Next big kick should be the next U auction price due shortly, if the price is maintained around $113 or increases this will be a shot in the arm for lots of U specs.
SIM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
