No-one else seems to have answered reader so let me explain
SIR has 242m shares on issue (including all options as they all well in the money). I did my calcs on a sp of 2.90 so 242 x 2.90 = 700m
That 700m is for 70% of the project (Mark Creasy owns the other 30% directly) so the value of the whole project is $1,000m
SIR shares have gone from 6c to $2.77
SFR shares have gone from 6c to $8.37
That look fair enough but SFR have only 157m shares on issue (including options that are in the money)
On a market cap basis SFR are worth $1.3b compared to $1.0b for SIR.
My point is that everything will need to go right for SIR to be "worth" a valuation so close to a proven and producing copper/gold stock in SFR. Hopefully it will starting with great essay grades (about to be released) for 2 of their best holes
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2.90 equals 1,000,000,000 market cap, page-43
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