S2R (ASX) Ann: Quarterly Activities/Appendix 5B Cash Flow Report

Originally posted by Poodleface: ↑

Thanks for you analysis polonium210.

Ive said it before but I am amazed at how little interest there seems to be in this stock at the moment, considering all of the exciting potential.

Their presentations come across well at the mining conferences, full of tantalizing facts etc, with proven quality management and we surely are not too far away from the EL being granted, a lot of the groundwork has been done at polar bear and fosterville, there are all these hints and clues as you mentioned to the potential rich pickings that may await us, quality proven management, gold price seemingly wanting to play the game, yet you could hear a pin drop on the s2r forum.

I think gainsmasters point about these guys not shouting from the rooftops for retail investors may have some truth but at least you know when they talk there is some substance in what they say, not just fluffer pumping talk. Some things it seems just can not be rushed, and the victorian minerals EL process is one of them. We just have to be patient.

At least we we'll be well set up to sprint out of the blocks when it is finally granted. Some things just take time and if there is no news there is not much to say but you'd still think a few more gold hounds would have been on the trail of S2R by now.

When I spoke to management they said EL by end of the year/early next year so I will not even think about it till then but if they do announce it sooner, that'll just be a bonus.

Anyone have a any idea about how hard it is to get a salt lake equipped drill rig for polar bear? is this likely to be a protracted thing in the current environment ? This is all thats stopping progress for that project I think.

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Yep 100% agree….I still feel the ground position and potential in Vic isn’t well understood by the general masses as crazy as that sounds.
I reckon you are on the money that its just a rig availability issue that’s holding things up at PB. I had a slight panic moment a while back thinking that maybe it was due to the commodity rights, as the previous announcements (post the sale of the gold asset) only mentioned ‘retained nickel rights’ and didn’t mention copper or PGE’s. But in the recent EM announcement, it specifically mentioned:
"S2 hold rights (100%) of any nickel mineralisation (and associated metals) within the Polar Bear project."

For the rig availability - even back from Sirius and early S2R it seemed to be an issue – but probably compounded of late with the increase in ‘other’ exploration co’s also wanting to also get out on various lakes for the usual gold, base metal search but now also lithium and potash. From what I understand there is only a relatively limited number of salt-lake equipped rigs of various types (e.g. AC, DD, RC) from a handful of contractors (e.g. Ausdrill, W.D.A, Raglan, DDH1, Westcore). So I'm assuming its more a case of get in the queue rather than just ring around until one pops up, but how long that might take I have no idea.