Worth going over the 2019 SS for Heemskirk and having a look at the sensitivity analysis. The prices they used at this point in time topped out at $24k/t USD which was before the massive 2021/22 bull run in Tin where prices were fetching up to $50k/t USD.
Extrapolating this analysis using Excel, $30k/t USD ($29k/t right now) for LME Tin at .67 AUD/USD resulted in a pre-tax NPV at $281m~ on a capex figure of just $57m.
MLX has already had a good run on the comeback of Tin yet SRZ hasn't really moved. Plot the Tin Price, MLX SP and SRZ SP and it will demonstrate this. I think the 18m volume the other day is a bit of smoke.
A SP of 1.3c with $4m cash gives us a $9m EV for a company which owns 100% of the highest undeveloped grade Tin project in Aus, going into what may very well be another bull market for Tin. I am anticipating there will be renewed interest in this project with the PFS this year and the Tin Price continuing to rise.
Ann: Severn Drilling Update, page-11
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Last
1.8¢ |
Change
-0.001(5.26%) |
Mkt cap ! $34.95M | |||
| Open | High | Low | Value | Volume |
| 1.8¢ | 1.9¢ | 1.8¢ | $1.119K | 60.74K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 220000 | 1.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.9¢ | 1568810 | 3 |
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| Last trade - 14.58pm 02/08/2024 (20 minute delay) ? |
| SRZ (ASX) Chart |