is it undervalued, page-2

All the details are already there to be analysed.

A lot of work has been done by Exco already and analysis has been carried out by brokerage firms.

I will start posting some analysis and valuations I have carried out based on brokerage analysis and conversations I have had with Tom Eadie after I pick a few more up.

Needless to say when the acquisition gets the go ahead (subject to due diligence) in around 2 weeks time SYR will be significantly undervalued at these levels. Apparently the work done to date by the team at SYR has led to a few minor technical points here and there (some positive, some negative), but nothing major.

This is essentially a low grade gold oxide resource with low cash costs (not marginal by any means). Slightly higher risk ratio using a dump leach, but there is no crushing of the ore involved and the strip ratio is ~1:1.

The mine will initially have a 3 year life span, but there is room to expand on resources. The ore is structurally controlled fault driven (over a 1km fault).

SYR should be in production (all things going well) within 2008. At current prices the market cap. of ~$3 m doesn't even account for the cash in the bank, lol.

My entry price is roughly $0.155, so all looking good to me for some nice gains.

Cheers
SBC