There is definitely a fine line between promoting and over promoting an explorer…
Overpromoting on a continual basis tends to water down announcements and leads to potential investors and/or holders being suspicious of those announcements / results and in the end the share price languishes and all announcements are brushed off as more fluff…
A good example of that IMO would be BLK ramping that 6 million ounces of refractory ore at Wiluna now WMC and now in Admin…..Or GCY whatever came of those spectacular 150g/t ultra high grade hits just before a final CR and eventual admin and now restructured etc etc etc…
Agree this company is a doer and not a ramper of nonsense like so many others are…
The projects they now hold as stated previously are high impact company making targets and I like the way they rotate and move on from projects by farming out as was the Canadian assets and selling off via share offering on the West Murchison and Frazer range projects into Pacific state…..
The recent CR took advantage of ST…khead media report and was executed perfectly before Christmas given the fact that if they waited and released those initial results on the first 2.5 holes then by my calculations they would nowbe going to market at a very much lower price than the 0.17c they achieved….
Unfortunately for holders and most “disappointingly” is the fact that dilution was kept at a bare minimum of 10% and here we are at a 40% discount to the recent 0.205c we were trading at when the CR was announced……
The initial results didn’t help but as others have said they are not bad considering we are targeting hard to pin point small pockets of high grade swan like zones at depth and the GPAC results a few weeks before probably dampened our results also…
If this is going to be a marathon instead of a sprint we need to look at what will be the next catalyst for a substantial rerate especially now the 2 others being the landholder agreement signing and the exploration licence granting are behind us and now any price drivers at Fosterville will be high grade results or an attempted T/O.
That leads me to Glenlogan what an absolute terrific opportunity this has become out of left field all of a sudden…..
An enormous Electrical charged anomaly at similar depths to what we are drilling now in the Lachlan Fold Belt that has never been drill tested and only 50klm N/E of Cadia one of the worlds largest Au deposits..
(The anomaly models as a broadly cylindrical magnetic body, commencing at a depth of 450-600 metres below surface, with a diameter of approximately 600 metres and a vertical extent of approximately 1,000 metres,)
Makes you think what LGM was thinking when they farmed this out without drilling it first IMO on very good terms to S2R – I know they can now potentially go to commercial production with no outlay and still own 20% but S2R are committed to a 1200 metre DD program in the first 12 months and well that will be 2 holes straight through the impossible to miss middle of it at a cost of $400 metre approx. = $480000.00 and well the results will speak for themselves… Could be the best well spent half a million dollars ever IMO As any Cadia results and S2R will be trading in the $$ very quickly IMO and with the recent CR out of the way and 9 million dollars as of Dec 31st 2023 in the bank they IMO will drill it sooner rather than later than the 12 month maximum timeline as its to compelling not to.. IMO
A lot of justified hype could be built around this target alone and should reflect in the share price being rerated as drilling approaches on the expectation of good results bit like a high potential oil well being drilled and the share price appreciation that occurs in anticipation of success - but again if average the balloon will deflate very quickly….
Chart update need to get above 0.165c to break this downtrend once and for all…
that now is resistance and not the strong support it once was…..
2nd big take down occurred with volume on Friday testing the top of that gap that has been partially filled....
S2R Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
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