Share price getting smashed after the company overpromised and underdelivered. Lost a lot of shareholders hoping for those big targets to come through
However, it looks oversold here (like most explorers). Stavely Minerals had a total of $1.379M cash on hand at the end of the December 2023 Quarter. Stavely Mineral’s 524-acre property in the Thursday’s Gossan area remains on the market for sale.
The farm alone is worth around $3million.
IF they can sell the farm in this market, they would have $4.3Million to finance the exploration at both Staveley and Hawkstone Projects.
That would give them a lifeline and opportunity to rerate in this market.
Interestingly is that both Chalice and NWM accepted Staveley shares at a much higher price. Last CR at 9c? Interesting to see how this evolve.
I am buyer at these levels. Let's see.
SVY Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
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