Flyboy.....oops you are correct...I was a little confused about the MD bit. Still it does not look good when a Chairman resigns unexpectedly, especially with no outstanding replacement lined up. No overall comment from the company, and worse, nothing in the qtr report about proceeding with a full feasability study for Zara, despite this being their only project with any chance of development and all drilling now completed there. Given that they are cashed up following the SGC share sale I would have thought it would be their number one task, that engineering consultants would have been engaged and they would have been named. But nothing. Just a comment that a report on structural controls was completed. And what were the results of this report, given it has a huge bearing on the feasability of mining a disseminated resource?..as usual.nothing! Certainly selling today suggests confidence is being lost in SBS for good reason. If they are not telling us about feasability progress it probably means that the Zara prospect is not feasable as it stands and they need more resources to make it a goer in the long term, hence more geophysics, soil tests etc as discussed in the qtr report. Hope I'm wrong, but I'm beginning to suspect that is the case.
SBS Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
