Redking16,To get a rig and permit, it will take atleast 6...

Redking16,

To get a rig and permit, it will take atleast 6 week.

I'd think closer to 8 week.

The average is 30m, but 50 holes. That will tell them what style of geology they are on as other areas there have already drilled that depth.

There are old logs, sombody posted them here some time back showing gold was close to surface right on the edge of the pennywest lease, if so aircore is the smartest move to cover more ground.

Somebody mentioned cr to pay for rab. Don't forget there are hundreds of millions of options over strike.

I don't think a cr is needed as many will get converted by those that hold, to prevent a dilution to cheap.

If they find a good deposit, we certainly do not want shares issued, if they add 50% more, that's 50% less your shares can rise in price.

Large off the fence buying was at play on the run to 2c, more than 300m shares or 30% of the cap accumulated.

Its not a surity, but if I was ramelius I'd take a stake cheap, ie 120m options if converted gives them 10%, it also provides sbr with cash. If ramelius wanted sbr, its better for them to fund it via option conversion, that way less shares to buyout if taken over.

Also they could sneak up, there are enough options to aquire 30% of sbr easily. No disclosure is needed as not capital.

The chart is also good as sbr clawed back to 1.1 support. It's a very important short term spot as price settled here 4 times prior. Also 2 pips up from recent low.

Feel sorry for the person that sold there 200k shares on Wed at 0.9.

I bought yesterday at 1c and today at 1.1 because depth good, off low, at support and good news.