+ data and comment +

SKR--Striker Resources.
Web site:
http://www.striker.com.au/

BigChart:
http://bigcharts.marketwatch.com/javachart/javachart.asp?symb=au%3Askr&time=&freq=

1. Capital:
572 mill. shares (current price 5.7-5.8 cents), 19 mill. options at 13 cents on 2/8/04, and 137 mill 30 Nov. 2005 options at 15 cents (code SKROA , quote 1.9-2.1 cents; last 1.9). Also 2 mill options convert on 31/10/2005.

2. Cash Holdings. On 30 Sept there was $348 k cash. On 7 Oct, $2.5 mill was raised followed by another $3.5 mill on 7 Nov. There was $5 mill. cash at end of Nov.

3. Exploration.
On 26 Aug. 1999, Ashmore and Seppelt 1 and 2 were discovered. From then on SKR locked up more tenements, often in joint ventures: 19 Sept 2003: Acquisition of the Merlin diamond tenements: here is a first class prospect.

20 Nov. 2003: Referring to the good result from a sample of Seppelt 5:
" This result compares very favourably with the micro diamond count previously obtained from Seppelt 2, which reported 441 micro diamonds from a 331kg sample. Seppelt 2 has consistently reported commercial grades in excess of 200cpht with over 3,500 carats recovered to date from the bulk sampling of kimberlite with gem quality diamonds up to 8.5 carats in size.

"The zone of high-grade kimberlite is extensive and is now over 3km in length, encompassing both the Seppelt 2 and Seppelt 5 kimberlite occurrences, which are 2.5km apart.

Trenching at Seppelt 5 has exposed a kimberlite dyke over a distance in excess of 600m in length and has been found to have associated brecciated areas and one small blow containing infill gravels".

Chaiman's address suggesting that there is a resource of over 1 mill carats in Seppelt 1 (700k) and Seppelt 2 (400k):

http://stocknessmonster.com/news-item?S=SKR&E=ASX&N=250981

4. Summary. After a lot of work the puzzle comes together: High grade and quantities of diamonds in the Seppelt region, perhaps one of the best. And they have also locked up a lot of prospective diamond tenements often in joint ventures. I believe now they had $5 mill in the bank at the end of Nov. they must take the next step: Mining of Seppelt pipes #1 and #2 and completion of drilling of #5.

In the meantime, further work on the other pipes can be financed from mining thereby stopping the erosion of capital. It is paramount that mining proceeds asap. As to Gold, a nice try but even I could see that listing based on areas with barely over 1 g/tonne gold interpersed with some good pockets, wouldn't work.

Bought some at 5.8 cents.

Waiting for that Announcement,

That is my opinion,

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.