Was some good buying action on fri, volume good again today. Some more quality intersections and a resource upgrade in the near future coupled with an upcoming broker roadshow should see this stock start to gain some legs.
bargain hunters seem to be returning to the spec sector imo and its hard to go past the Sultan with a market cap under $10m.
As Derek explained to me the John Fardy deposit extends from surface and is still open at depth. Whilst the 1st 10-15m is oxidised (therefore useless) the mineralisation immediately below this is of high grade in the order of 300k-400k tonnes. Easy access for early production. I would expect resource upgrade would be in the order of 1.3m t - 1.5m t which would increase the inground value of deposit to around $300m.
This stock is a no brainer at these prices with company funded to continue drilling JF deposit as well as nearby Peelwood which is a JF lookalike.
Time for buyers to step up before this one takes off
SSC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
