Perseus last update was full of text book scare tactics coupled with their approval which is all part of the fun and games. Of course they need to try and buy everything as cheap as possible, that’s normal. SVM and/or ORR can easily provide rebuttal and it goes on.
SVM are a bloody good mob and have been severely under rated by most commentators, and just putting them in the basket of “some Chinese” company hasn’t, given them the credit they deserve. They have built 3 plants, 10 mines, haven’t cap raised for 13 years and unlike most ASX companies, they are profitable.
Perseus should stop piss farting around now though. They need the ounces in a few years and this is a shovel ready high quality orebody as described by industry leaders. Throw in some PRU scrip and it’s done.
The SP might fall short term, but not hard. The Tanzanian government haven’t pinched another 4% of the project just for it to be land banked. And I’ll say it again, you can’t go relocating graves just for the fun of it.
This volume today is certainly interesting.
ORR Price at posting:
57.0¢ Sentiment: Hold Disclosure: Held
