re: no trading
I dont know ripped. But technicals post last private placement caught my notice and I soaked up heavily for core around 4c.
My MO is a decent core holding plus maybe another 30% trading stock, aggressively trading the wavelets to reduce cost of core. I am almost down to zilch cost on the core fully loaded now and waiting for the next tech "buy" signal to move in again. If I was looking for core now I would be soaking quietly without spooking. Surprising lack of loose stock atm given that there are 300 mill shares on issue. Probably still being held by the Germans who paid up to 15 for them coupla years ago. Thats the main resistance.
Gotta add tho, have been watching this for some time and reasons for recent cap raising inc accelerating activity on the ground was the reason for my core investment decisions. I always go fundamentals first and techs to time the trades at the fringe.
Feel very happy about status of real work and charts. Next break above 7.5 recent high should take it into my first target 9-10 range. But they will need some more good news .. and plenty of possies. A good confirming hit at Zara could even take them straight thru to the 2003 high 15.
My core holding will be held so long as gold price is in uptrend. Plenty of wavelets to trade along the way. U just gotta do the sums and be a little pro-active with decisions. Reacting usually means u have missed the current surf wave.
If u take a look at Sunridge's recent presentation in Canada on Asmara targets (on their website) and consider SBS are free-carried to BFS conclusion for 24% residual, u might see SBS are shooting for a coupla mill ozs gold equiv THEIR share. If that is proven, even at nominal inground AUD 50 / oz valuation, target resis 35c comes into possible play. But that may take another year or more for BFS.
Meanwhile a hit of size at Zara could be just as significant .... shallow reef, high grade target, 700 m strike ...I think their possie is 50% contributing there.
And then we have the 4 large Tanzanian free-carried JVs looking for elephants. Any hit would make SBS shark fodder for their large JV partner.
So plenty happening now and waiting hopefully for Chrissie joy.
Meanwhile I will be happy to subscribe to any cap raising. A simple underwritten SPP of 5Gs per shareholder style could prob raise 5 mill plus (assuming they have 1000 shareholders ...havet checked). That would be easy if they have a reason like Zara. I wouldnt mind even subbying something like that.
IMBOOC, to suit my personal investment/trading needs. No advice intended.
Just stop the quibbling and focus on success. This is one of the better and more advanced real goldspecs around. Very under-rated IMO. Prob cos of the recent Eitrean politics. Therein presented the golden opportunity and IMO still does.
SBS Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
