Shift of demand to options is a good indicator of investor bullishness in SRN I think. We have a good sized drilling campaign underway - 30 RC holes for 3000m along a strike determined by geophysics so chance of success spread across multiple prospective areas.
Given we already have historical assay data confirming gold mineralisation within the expanded Victory Bore/Unaly Hill project + large V-Ti-Fe JORC resource + lead/silver exposure at Kooline, it’s not unreasonable to have expect a 10-20mil market capitalisation (~2-4c per share)?
If we hit ‘average’ or above gold results, then hopefully we’d be in the range of 20-30mil MC given other similar company valuations... which will be revealed towards the end of September.
SRN Chart, page-61
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Last
0.7¢ |
Change
0.001(16.7%) |
Mkt cap ! $13.90M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.7¢ | 0.6¢ | $5.404K | 819.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 3978269 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 13479284 | 20 |
View Market Depth
| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| SRN (ASX) Chart |