According to the article you cite, SAU is now in the middle of phase 1. It can either go bust if all exploration efforts fail, or its can go boom if they find anything of value. Now, after finding something, it would normally take a few years and a capital raise to get to production, but SAU seems to be in favour of reducing risks and go for JVs, like with Cannon.
Nothing wrong with this company. Cash in the bank for 2 years of exploration, several exploration sites, good management, and experience. It is just a matter of finding something, with no debt pressure.
Very simple. Cannon gave SAU two years of exploration time without the need for a CR. If they succeed, this is a 5, Disallowed. If they fail, it will go down to a few cents.
According to the article you cite, SAU is now in the middle of...
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