I bought some a while back @$0.145 primarily for the White Dam...

I bought some a while back @$0.145 primarily for the White Dam acquisition that never eventuated (bought a few more sub $0.10 just to drop my average). The White Dam project looked good from the research I did, but the capex requirements were higher than anticipated and with the credit squeeze and debt laden companies being punished by the market management decided not to go ahead.

The management seem fairly solid and my earlier conversations with them gave me a good impression. The Cu projects could be of interest and there is also still a chance that an advanced project will be acquired (that is their stated intent).

My opinion is that any pick up of shares at current levels will eventually put you in profit (by how much I don't know, but any good news could see $0.15 hit at a minimum). The stock is still trading below its cash balance and ANZ is becoming less of an issue, so some security can be taken from that (the downside should definitely be less than the potential upside).

The problem with SYR is that there has been no significant news for sometime. Patience may be the key here as it usually is with stocks with such low liquidity (similarly took a small position with ERNO recently as a punt and a medium term hold and am up 50% (only worth $1k, so it sounds better than it is) but it is another similar case where you sit and hold).

Cheers
SBC