You could be right with this estimation at the end of 2012... But I do hope (and expect) that Kaskara will be the real company maker for SBR with Guchab as a second best standing by to deliver as well...... With hopefully much higher grades than 0,5%, but at least you're on the safe side. The trenching and tunnel samples, the IP maps, the gossans, the analogues to Tsumeb, etc are promising much more, but the drill results will tell...
Border, Driekoek and Southridge could form the basement for SBR with maybe not very exciting Lead and Zinc processing but solid revenues, and large enough to build a concentrator which will feed the Tsumeb smelter...
I do think that the acquisition of the neighboring tenement is a good move. Ofcoarse the dilution is quite big, but what we get for it is a broader base and much more targets, so SBR is evolving as a real multi base metals explorer. Guchab seems to be a very good start; let's wait and see...
I jumped in 2 years ago at 50 cents, having read a report of possible valuations somewhere between 1 and 5 dollars on the development of Kaskara alone, depending of the grade and size of Kaskara. At the moment we know much more (despite the inability to drill Kaskara because of all the drill problems, but thanks to all the tunnel-sampling and the RC-drill to come (or yet being done ???).
At this sp of 0,11-0,13 it's a bargain in my opinion. I think after the EGM tomorrow (and an approval of the share placement ) and some results, the sp will quickly move back to the mid twenties after some announcements. Kaskara and/or Guchab will be the katalysator for a launch...
July will be an interesting month (understatement I hope).
SBR Price at posting:
12.0¢ Sentiment: ST Buy Disclosure: Held
