All the details are already there to be analysed.
A lot of work has been done by Exco already and analysis has been carried out by brokerage firms.
I will start posting some analysis and valuations I have carried out based on brokerage analysis and conversations I have had with Tom Eadie after I pick a few more up.
Needless to say when the acquisition gets the go ahead (subject to due diligence) in around 2 weeks time SYR will be significantly undervalued at these levels. Apparently the work done to date by the team at SYR has led to a few minor technical points here and there (some positive, some negative), but nothing major.
This is essentially a low grade gold oxide resource with low cash costs (not marginal by any means). Slightly higher risk ratio using a dump leach, but there is no crushing of the ore involved and the strip ratio is ~1:1.
The mine will initially have a 3 year life span, but there is room to expand on resources. The ore is structurally controlled fault driven (over a 1km fault).
SYR should be in production (all things going well) within 2008. At current prices the market cap. of ~$3 m doesn't even account for the cash in the bank, lol.
My entry price is roughly $0.155, so all looking good to me for some nice gains.
Cheers
SBC
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All the details are already there to be analysed. A lot of work...
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Last
20.5¢ |
Change
-0.015(6.82%) |
Mkt cap ! $212.1M |
Open | High | Low | Value | Volume |
22.0¢ | 22.0¢ | 20.5¢ | $934.5K | 4.463M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
28 | 664049 | 20.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
21.0¢ | 53046 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
28 | 664049 | 0.205 |
41 | 1028050 | 0.200 |
13 | 601901 | 0.195 |
16 | 1308788 | 0.190 |
4 | 382000 | 0.185 |
Price($) | Vol. | No. |
---|---|---|
0.210 | 53046 | 4 |
0.215 | 137888 | 5 |
0.220 | 216991 | 3 |
0.225 | 216444 | 8 |
0.230 | 175000 | 4 |
Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
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SYR (ASX) Chart |