From memory, we are now almost 2 years from when SBR decided to discontinue drilling at Guchab High Valley. The reason from my understanding to stop drilling a Jorc; it became evident that the nuggety nature of the mineralisation meant more drilling to achieve Jorc than initially expected. Given the (i) difficult access, (ii) the fact that the mineralisation was not continuing down the topography of the mountain, and (iii) the temptation to focus on other highly prospective areas within the tenement; the business case to continue Jorc drilling in the High Valley had eroded. Even though the deposit emerging was looking to be of a notable size.
I am glad that a regional exploration method was adopted following the lesson learnt in the Guchab High Valley; unfortunately that lesson was costly..over one and a half years and more than $7 mil of hard earned shareholders money spent.
Moving on from that we discover potentially (imho) 2 company makers...Guchab South and Toggenburg. Although early signs look good...its still early signs...and the management at SBR are certainly taking their time...the last three months at Toggenburg and very little exploration achieved if you were to rely on the previous announcements (or lack thereof). Not the kind of response Shareholders want nor deserve.
Sutto
SBR Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
