I sold out today (bought last week), looked over the presentation and they have a long way to go. The open cut pit will access only 15%-20% of the deposit before they need to go underground. The deposit sits at a declination of 60 degrees which is a pain to mine open pit as you end up having to cut away a lot of waste rock to get the pit walls at a suitable angle. The waste:ore ratio on this deposit will be unfavourable to more than a small shallow pit (in terms of the total overall depth of the ore body). Bought and sold all at 2.2 so only copped brokerage on this one. They will also need at least another $10M to get up and running. This will be o.k if they can do a BFS and get a bank draft otherwise there will be more dilution.
SSC Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
