peelwood mine approval

Thought I would drop in and say hey to any holders that may be left ;)...

I have spent some time checking these guys out today; have talked to a few of my contacts to see if there is any news about the Peelwood approval... This is what I came up with

At present Sultan has been delayed with the Peelwood mine approval due to certain surveys being requested via the environmental department... To my understanding this is taking more time then Sultan expected, however I am of the understanding we are definitely going to have confirmation in the second quarter, In truth I am pretty confident after my conversations this morning that it will happen, not a 100%, however 80% sure it will happen ;)..

The recent negotiations to acquire the former Brskovo mine should be released to market soon one would think...

Cash burn is an issue, my understanding it sits on about 50K a month... The Peelwood mine will present the major spike and re-rating for Sultan, the times I have talked to Derek he has mentioned that finance to fund the mine will not come from Holders, no more dilution of shares, In fact he seems positive that they will fund the mine ($10million) through an agreement via supply, seems to have something in the pipeline set up for this...

At this stage Im just leaving this in the bottom draw, now and then when I have a couple of dollars floating around I grab a few, this is sitting on a support line in my books... .010-.012 provides excellent buying... the recent fall in SP from 2cents has a few reasons in my books, recent market drop, Peelwood approval delayed, announcement regarding interest in acquiring a recent mine with holders wondering how they will pay for this.. How ever I think the Market is looking to continue up after its bounce of 4500 (support line), The Peelwood approval will happen in time, and if the Brskovo mine is purchased Sultan has already said they have enough cash to purchase it (must be cheap)..

This is a high risk speccy stock, though it still has strong potential to come through in the mid to long term, my crystal ball tells me the interest will return toward the second quarter and if it all goes as planned SSC will have some nice jumps in the 3rd and 4th quarters...

I think holders are just concerned about cash burn with no actual confirmation that Peelwood is a sure thing, along with the fear of more cash burn acquiring another mine (mine approved for Brskovo with previous exploration results exceeding Peelwood)...


High risk with massive gain potential.. Here is a chart for consideration, low volumes on the sell of, approval of Peelwood will see this spike hard and fast...

Bottom draw stock for now, but I am happy to hold as I dont want to miss out on the approval.. Perfect time to acquire shares at these levels..

The MD looks sad, however interest will return in time, sellers seem strong, though this is understandable at present...

Good luck to SSC holders... Patience is needed here, but reward could be well worthy..

Stay cool
re
Drew