I am L/T and rather substantial holder of SRZ (as well as 13 other Gold and metals explorers/developers) and could not be any happier with the management' idea to explore for gold in the area they have chosen... The only problem I have with it - how to organise the cash to cover the required 2/5 of my holdings.
as Reuben Adams wrote elsewhere: "Unearthing a discovery of biblical proportions — like Hemi, Julimar, Boda, Haverion, Winu, or Oak Dam — often takes years of persistent, unsexy exploration work..."
In my long experience investing in explorers/developers only I had a few failures as well as some outstanding winners and if your timing is right you don't have to wait (as in case of DEG) 17 years or so to be successful ... I remember when their management announced the CR @4.2 C all hell broke loose between some L/T holders and they sold it off to below 4C... despite the fact that they already had a substantial Gold deposit and they already hit the Hemi... They were drilling in new area where "there was no gold" as it was under cover of 30 M of dirt... I was loading up and been a part of enormous run from $0.04 to $1.6 current top and the explorer is now worth $1.6 Bln approx. (and the last DEG' CR was at $1.2... and there are no less complainers?
Another success worth mentioning I had with IGO from $0.2 to $6 + after Tropicana discovery... another success a courageous acquisition run with NST from $0.5 till ?
Another - KLA company has essentially transformed the historic struggling Fosterville mine into “one of the world’s highest-grade, most profitable gold mines” after drilling to greater depths resulted in the discovery of multiple high-grade zones.... and now Victorian goldfields stage resurgence as explorers flock on Fosterville nearology...
Another KZR explorer with no deposit I invested in below $0.20 only because they decided to look in under-explored but well endowed belt ... stretching to the areas SRZ will hopefully have to explore most likely with cooperation with other gold explorers? but not necessary... as there are experts and historical reports re unfinished business in the area...
"Failures I had a few" but that's the business we are in... and without a risk you only get mediocre "safe" results. IMHO DYOR
The area is well chosen and one successful drill can change it all and transform the company to Tin and Gold developer! We are not losing anything as the Chairman stated:
Chairman, Simon O’Loughlin commented, “Stellar is excited to be in a position where it soon expects to be able to explore for Victorian-style gold exploration targets in relatively underexplored NE Tasmania within the continuation of the Victorian Western Lachlan Fold Belt. Stellar’s established base in Tasmania has enabled us to identify these targets and to lodge and have the ELA’s registered by Mineral Resources Tasmania. Our geological team and network of technical consultants in Tasmania will also be a great asset in implementing the proposed gold exploration program going forward”.
“Whilst embarking on the NE Tasmania gold initiative, Stellar will continue to hold all of its licences and leases in good standing over the Heemskirk Tin Project and other satellite tin projects on the West Coast of Tasmania. We note that tin prices have recovered significantly from lows of ~US$16,000/t early in 2020 with the onset of Coronavirus to currently over US$18,300/t. We remain optimistic that tin prices will continue to strengthen, supporting the advancement of the Heemskirk Tin Project in the future.”
NE TASMANIA – A CONTINIATION OF THE VICTORIAN WESTERN LACHLAN FOLD BELT Gold deposits in North East Tasmania lie within a continuation of the Western Lachlan Fold Belt in Victoria – one of the world’s largest orogenic gold provinces.
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