breakout from under 20c, page-16

GBG ROY and others are much more advanced than SRZ however with iron ore location is key. SRZ sit 10kms from the Adelaide Darwin rail line....Any further success from current drilling would see a significant rerating IMO given current cap of just ~$15M with 76M shares.

Current Metrics

SRZ @ 26c
75.8M Shares
$3Cash
10.6M FP shares in USA
5M options in USA
6.6M option in GOP
EV ~$15M

3 drill programs progressing or completed targeting iron ore, copper gold and uranium all in South Australia. Iron ore project is 10km from NS rail line. SRZ supported by PACE funding and their JV partners.

Early March Chinese steel interests placed 5M shares at 20c, SRZ was trading around 16c.

60% of Tin resource in Tasmania and can increase to 70%, historical resources non JORC

7.3Mt @ 0.69 % Sn for 50kt of Tin
Including
3.6Mt @ 1.2% Sn for 43kt of Tin

Very reasonable grade for tin comparable to MLX’s renison tin mine. SRZ plan IPO to concentrate tin leases in new company.

Still cheap IMO considering tin resources and the possibility of further success on any one of three drilling programs.

DYOR