I don't know a lot about mining, but the thing I do know about that I keep coming back to is that the Sunrise ore starts at about 10 meters under surface. so no long lead times for 300 meter vertical access shafts, and complex deep tunnel arrays. just remove the overburden and your in the money dirt. question is how that ore will be processed into battery metals. couple years back we were presented wonderful animated diagrams of processing facilities using the proprietary Clean-Teq technology. then we saw the price tag for these (2B USD seems to stick in my mind), and the timeframe to design and construct and bring online (couple years is my recollection). then the design phase dragged on until a different engineering company was tasked with the design. and I don't remember if there ever was a final design approved. then the price of battery metals dropped below the profitability threshold of the preliminary economic assessment. somewhere along the line some dilution was introduced with the offer that current holders could maintain their level of interest at $1.15/share. I don't remember much after that and I'm sure I have some of this mixed up. overall I think I'm down about 80% on my initial investment. it would be nice to break even some day.
SRL Price at posting:
$1.94 Sentiment: Hold Disclosure: Held
