Whooa what a day. ASX down by 2%, talk about Christmas in July, looks like we are having October in June.
Being working all day, and come home to a sea of red but not for SBR. Dollar down 2 cents. China having a sneeze.
Obviously this thing is going to be driven by drill results, I have bought more because results of drilling seem to be happening at a faster turn around and very inspired by the arrival of the new rig. It is alright to talk about what's gunna happen, but it is totally different ball game when it IS happening.
I was caught by surprise by the great results of Schlangental and was even more surprised when the SP back tracked to below 10 cents again.
This time last year the problems were huge, little money, crap drilling rig and delays and little drilling and even less results.
From my rereading of the 11th of June Schlangental announcement SBR are currently drilling 90 percussion drill holes to an average depth of 18 metres BUT will drill deeper if visible mineralisation is encountered.
Apparently this valley has a sand cover over the mineralisation so anything is possible, that is it is likely that little exploration has happened here at either shallow or deeper zones.
Lets face it SBR is an exploration company and it looks like some very serious exploration is taking place. What we need are some great sets of numbers to show we have a great discovery and the rest as they say will be history.
Good luck.
Saltbus
SBR Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
