SRI those playing this as well I took this from the SRI
Thread from GeoVar Hope he doesnt mind.
Hello all, first time post and here is my two cents worth. I have been a shareholder for less than two years, so I am not suffering as much as long term holders on this forum. But I bought on the secondary blanket discovery news in the early teens with quite a sizeable holding so i am in a bit of a hole with this one. I have also made it my business to study every single announcement in great detail since the thaduna tenements were first pegged by SRI. This and some Geo friends have convinced me to hold on.
As far as small caps go, in my humble opinion i believe there is only a hand full of other explorers that have the enormous potential SRI have. SRI definitely ticks all the right boxes ie experienced mgmt who have experience in finding deposits, cash in bank and very prospective tenements. It is also the most advanced of all the doolgunna explorers in my opinion, and is the most likely to find a sizeable deposit.
Mike Doepel is obviously no clever marketer as seen by his latest attempt before the cap raising. Either is he a savy investor as shown by the fact he is not buying on market to take advantage of basement prices. Mike is a very conservative Geo, and it is not in his iterative language to state that Enigma is the most significant virgin copper discovery in WA since SFR. The fact they have pretty much given up every other project or farmed it out shows they are insane or 100% certain that enigma is the real deal. I also wonder what the recent field visit from the experts in the secondary environment did to their confidence regarding the project.
I am sure we are all in this because of the massive copper blanket, and there really isn't anything like it around. Nearest analogy is Nifty and i know they tried the geophysics as well and the EM survey didnt pickup the primary because of the black shales. Remember it took Wmc 2 years to find the primary. It also beggars belief that there is no significant primary deposit underneath the secondary and that it has been all weathered away.Do we really believe Mike and the team would bother trying to find the primary if this was the case?
It is very frustrating and discouraging seeing the slow progress at enigma and the stock getting a hiding because the slow progress and the slump in the copper price. But fortune always favours the brave
I bought ADN a copper explorer recently for 4cents only to sell it for a few pips profit a couply of days before the recent announcement which took it to 25c I sold out because i didn't believe enough
Again I bought Bgs at .006'and now it's 3c. But i didn't buy enough, again I didn't believe enough
I am not going to make the same mistake again until SRI have had a good crack at drilling deeper. Won't be long know until we found out what lies beneath
These are probably ramblings of a sad young bastard but all the best to long term holders as I feel it's make or break time now and Chin up Mike
