Just spent the last few days catching Barra and Mud Crabs. I had plenty of time to think about SAU out there and I just wish there was more news and things to analyse, to tell you the truth. Some things remain the same - like any reasonably big success should translate to an automatic Disallowed IMO. A 150 Million MC is still a micro cap in many investors' views.
I know SM prefers quality over quantity for news releases, however, I do get a little uncomfortable when there is long periods of nothing. How much is left in the kitty? When is the next cash flow expected? Earlier in the year with around 10 mil, it felt "safe as houses" and time was on SAU's side. I then, expected the end of 2017 to be packed with newsflow, not "crickets", like it's been so far.
So basically, I think the upside potential is still there. The risk to the downside has gone from close to zero to somewhat of a moderate risk IMO. I hope an announcement for more gold production in the near term , and this blows my perceived risk increase, out of the water. I can only go on what I'm (we're) told or not told.
PS - if anything SAU could ride the coat tails of Pilbara plays, with good announcements. I don't think it's a negative, we just need a series of good news releases to get a small share of the spotlight. SAU has similar upside potential and maybe less downside to most of those plays IMO.
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