To summarise: Some $20m of documented exploration has taken place on Block 4 and in today's money that would be at least $30m.
That exploration has included every advanced technique in modern geotech. Of particular importance is the IP Survey with its capacity to define refractory ore with sulphides. No major discoveries have been made and it is highly unlikely that this intense exploration campaign has missed a large high grade deposit.
S2 have cherry picked the few high grade hits without providing the table of results that invariable show that these are isolated results.
All well and good to say that are available but they are not readily available and most investors would not be aware of them.
The most likely positive results from here on will be small oxide gold discoveries that will not be economical to mine because of the high Capex needed.
Moreover they will be impossible to bring into production because the environmental restrictions on a new mine are severe. There will be court cases and blockades by community groups if S2 try to get into production. The delays will be huge.
Ultimately S2 will have to turn to to their neighbour and ask for an off take agreement. They will not get one imo
A likely outcome is the failure of S2 and giving up Block 4 or selling out very cheaply.
my opinion
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