You would expect they might hold off the CR for a short while anyway to maximize it a higher share price. Chronolgy of things is that the 5th hole is likely underway now and as they are targetting again the upper portion of the EM conductor ( as per the 3rd hole) should only take 4 -5 days to get there as its only a couple hundred metres downhole, so maybe by Tuesday they have the visuals of the intersection. If its anything like the 15 metre intersection of massive sulphides in their 3rd hole, we'll be off again with a decent SP rise. Still awaiting the 15m drill core lab assays which should not be too far away but as the tenor of this intersection is reportedly as they say like the 1st hole, then its more positive news to consolidate the SP at a higher level. That would be when I would do a CR to get max value without over dilution.
Its also interesting to trawl back through their past reports on this ground because their surface soil chemistry profiling was showing decent copper levels over the full length of the EM conductor. At the time, without yet doing the EM study, no significant conclusion could be made about what the cause was. Now we know. Given the length and breadth of the copper in soil profiles they showed, its a fair bet the EM conductor has decent copper figures (and hopefully nickel) over the entire 1000 metres of the conductor. As I recall, they did not profile for Nickel in the soil samples as I guess they never expected nickel to be present at the time.
SIR Price at posting:
56.5¢ Sentiment: Hold Disclosure: Held
