I'm looking at a lot of gold specs starting to move up on nothing yet we seem stuck on a CSX bureaucrat signature whilst meanwhile everyone involved is full on the work preps to bring SKG to the fore. We must be close to cleaning that up so market will soon need to re-asses, starting with a further rise in SIZE when the uncertainty becomes reality. Feels right and now. Low volume, I added more to traders today.
Looking now for a B bounce in the EW2 orrrrr maybe even a EW3 start off a 4.4 low to soon test the 8.2 EW1 swing high, thru which would bring the next 2 PPs within view viz 11, 13.5(major ... past Hartly's placement price). I am sticking to my guns on a near term interim 18c tech target which the 4.5 PP spits out on its way to mid 30s likely for EW3 on basic TA.
News to trigger could come from any of a number of active sources but SIZE resuming its own EW3 will be a major driver ........ laugh at me but that's got a 5 buck price target attached to it for bill buck market cap IMO ....... So I ask myself what would it take to value SKG at that ?
Well precedents have already been set with lower grade resources in Oz than what SKG might offer at lower cut-off grades now being used by everyone. And the Canadians can expose PEA equivalent to our SS which we cant, using mostly existing drill cores. Then a bit more in-fill in summer ? to an upgraded JORC over larger size than our original 15 mill ozs ? What IGV a Tier 1 project of say 30 mill ozs JORC equiv resource at 2+ g/t ? at today's POG ???
When these numbers finally come to the fore and it could well be progressively over the next 12 months, we wont be relying on Oz players who cant see beyond their noses, we will be right under the noses of the Barrick's and the Sprotts etc.
That's why I would dearly want to see an in-specie distribution of our SIZE shares which would over-ride escrow, and an Oz platform set up for us to trade them on some kinda ADR basis. we have the brokers here to do that. U work out what a trade-able 1 for 8 approx would do in yr hands at over 2 bucks a share for SIZE ...... that was my original thought for SIZE but now looks conservative in current hot golden market about to get hotter over next year or three, espesh when taking into account lower cut-offs are now being used. Whats that Oz listed Canadian arctic play called, now "valued" by market for its 3.2 mill ozs in-ground at average grade 0.5 g/t ? ..... 150 mill bucks ???
PGM remains completely ignored apart from the smarties who can see the upside, yet we've got plenty while others are still looking.
I base all my back-of-envelope calcs on Skaergaard and our exposure thru our SIZE shareholding with only one minor announcement still outstanding.
Not worth a punt? I've got much more than a punt riding on this
OWEP of course.
