Hi all.@PoodlefaceI just took it for granted that this...

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Wack

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30/01/24

12:17

Post #: 72132255
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Originally posted by Poodleface: ↑

Im not against it at some point silver fox but i think its way too early at the moment.

We have some very attractive ground in all out projects by the look of it but until we find something on any of them thats all it is. I think we need to do justice to fosterville by having a decent crack at it ourselves before we invite any other parties to share the spoils. We have only just got started after years of waiting so if there may be relatively easy pickings we want them to ourselves, especially since the drilling has already at least been partially funded.

Re: The market worrying about us spreading ourselves too thin... That thought has entered my mind as koonenberry and now this glenlogan project have been added, all at a time when our share price is not exactly thrusting forward with great gusto. I know its a bit of an overused and tired old trope lately but i think our low share price is more attributable to the overall market shying away from spec shares, especially miners rather than any particular concerns of s2r.

As wack said, we got into glenlogan for a fairly low initial sticker price. Now is not a great time to raise funds for sure but on balance i think its worth the punt of using our existing funding to try to get to the point where we can get some news that let's us raise at a higher price rather offer a slice of the fosterville motherlode pie before its been at least somewhat baked.

Should we need to raise soon to fund glenlogan well thats not ideal but one of S2rs core tenets is stated as prudent financial/equiy management /lessening the need for new equity funding etc so if its necessary i expect it will be done wisely.

ultimately we do have to spend money to drill holes and find stuff but at least we are doing it for some pretty attractive prospects and it won't be too long till we can (hopefully) benefit from that effort.

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Hi all.
@Poodleface
I just took it for granted that this suggestion would only come about after a real decent hit at least.
On the flip side of that, A real decent hit could put the SP a lot higher and ease the burden somewhat.
No one would suggest a JV without leverage on our behalf.

Here is some decent intersections not that far away.
This confirms that the geology could be more wide spread than what is currently known.

This is the land holding of Great Pacific inside that Red Square.

I wasn't watching this and heard it from a Sprott and Hemke vid recently.

Now let's see if we can crack a beauty like that.
We are along strike by the way.

Apologies if this has been posted.

Kind regards, Wack

S2R Price at posting: 15.0¢ Sentiment: Buy Disclosure: Held
11 Upvote

2 Great analysis

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