Great post plough.
I believe my post title last week is still accurate, things are coming to a head, I won't say much more other than smarter minds than mine (
@Joelstar) are watching very carefully what the major holders are doing, and RMS is quite crafty in their 'potential' use of proxies..... of course everything I discuss is pure speculation.
As for the 'big question', I sort of feel that has been substantially answered, it's just a matter of scale at this point... I mean, Never Never goes over 1km deep.... Pepper (Simon thinks so) could replicate this, what about Freak.... FP, WW... Sly Fox etc. Let alone the targets to the North (surface drilling is test this right now). I love comparing stocks.... OBM has been an incredible ride for those that stayed on, yet.... it currently has around 1 year in reserves! The market is unquestionably valuing producers far higher than explorers, even developers (though the gap has closed dramatically in recent months).
@hongkie - I believe your thoughts to be on the money, though the surface drilling might provide results as soon as next week (which I concede is pretty much what you said
).
SPR is a very different beast to all the other acquisitions RMS are very proud to flash in their PowerPoints (most are worth of spruiking I admit, but not all). Every company RMS bought was an explorer, nothing more. Yet what makes SPR even more unusual, is that the drilling they are undertaking, could easily produce a result that would increase the share price by... 50%... i.e. a replica of Pepper or Never Never.
BRB, AOP, MGV EXU all... barely did any drilling before and during the corporate dealsmanship occurred, SPR.... so very different, it's not just drilling, it's developing it's U/G mines.
I think the corporate saga that went on with GMD and SLR (now VAU) over Gwalia, was incredibly interesting and showed that takeovers can take many forms....
Anyway, such great discussion on the SPR threads, I really appreciate the differing views.
First time in 2 years... but I started adding to my position yesterday. Best place to make money, is in the best asset in the sector.
(20min delay)