Not sure about a TO but a JV for the gold play maybe.
SRZ probably new that they were are target 12 months ago when they decided to take on a huge risk with this current drill program. It was make or break. However, it’s been a massive success and now that they’ve been able to extend the program into additional phases its means that they are set for a re-rate.Though had they missed the mineralised target, they would have blown their budget and become vulnerable to all sorts of downgrading offers. However, that's not the case and now that they understand the geology and can target the mineralisation better they can validate a trend to indicate a true and fairer value of the project – with a Mineral Resource update due in October.
Furthermore, they have drilling underway and Hole ZS152 could turn out to be a potential monster (based on current advances in geochemistry/geophyics), additional assays are also due, as mentioned the Mineral Resource update due in October, mining study and scoping studying November. All this means that any one of these events could be catalyst for a re-rate.
The bottomline is that a TO takes time to play out and this makes it hard for anyone to justify an offer when news is imminent. SRZ could easily be *** or ****** which could embarrass any opportunistic offer.
SRZ may consider a JV for the gold projects which would leave them to concentrate on the Heemskirk flagship and 'company-making' project.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)