It looks to me like all the resource increase in the world won't budge this share price until we get some update on the permit/offtake partner! As I write the VWAP of the days trade is at 47.9c, a mere 0.4c up on yesterday's close. With 2,887,654,669 shares on issue the rough market cap becomes close to 1.4bio. or an increase in MC on this news of roughly 11.5mio. The value of the additional added resource today of say 38mio tonnes of iron ore at 60% using $80/t gives an increase in resource value of 3.04bio or there abouts. Not bad, although I know they need to get it out, process, ship etc. But in pure value that is the equivalent of finding 1.68mio ounces of gold at current prices!! Giving a total resource value (of the DSO only) of an equivalent 23mio ounces of gold using the same metrics. I wonder if some junior explorer out the back of Burkina Faso who announced a 1.68mio ounce find would only see an $11.5mio increase in MC??
I know we're not comparing apples with apples but jeeez!
They may as well have a 10bio tonnes of DSO, without an offtaker or permit the market is not keen to push ahead. Just my blatant ramblings.
Rookie
SDL Price at posting:
48.0¢ Sentiment: LT Buy Disclosure: Held
