Really makes you wonder why "one" of those 60 something companies (Not necessarily Agnico) that applied for the State tender for block 4 including Newmont don't make a play for S2R....NOW while it is at its almost lowest market cap (give or take few CR's) since the tender win back in 2021.....
Agnico pledged to spend on exploration 90 million over 5 years and you would think Newmont was willing to commit to a similar amount if not more....
Well Hullo you can now get S2R for 54 million and because S2R won the tender with a 5 year commitment of 10 million you get the lot for 64 million or 26 million less than you were willing to spend back in 2021....
Imagine the response from Agnico if Newmont threw their gloves into the ring first.......
S2R would attempt to shed Southern Star Exploration Pty Ltd in the bidding war.... Would certainly liven things up a bit......
from stock....Dec 23
The ground release of four exploration blocks, including a 394km2 tenement literally surrounding the underground mine and its 750,000tpa processing plant, drew applications from as many as 60 companies, among them global giants like Newmont and Kirkland themselves.Kirkland, now world’s third biggest gold miner, Agnico Eagle, after a merger between the Canadian majors last year, won three blocks, where it has pledged to spend $90 million looking for a repeat of Fosterville’s Swan and Phoenix Zones.But none were the coveted Block 4 — the prized exploration ground so close you can taunt Fosterville’s security metres from its mine office.
S2R Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
