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
27.0¢ |
Change
0.005(1.89%) |
Mkt cap ! $279.4M |
Open | High | Low | Value | Volume |
27.5¢ | 28.0¢ | 26.5¢ | $1.007M | 3.718M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 45638 | 27.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
27.5¢ | 245563 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 45638 | 0.270 |
6 | 179586 | 0.265 |
37 | 832066 | 0.260 |
12 | 371044 | 0.255 |
29 | 650240 | 0.250 |
Price($) | Vol. | No. |
---|---|---|
0.275 | 245563 | 10 |
0.280 | 516036 | 6 |
0.285 | 220000 | 3 |
0.290 | 238720 | 7 |
0.295 | 274390 | 8 |
Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
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SYR (ASX) Chart |