STTCOMP STA, FA Long Strandline Resources is focussed on mineral sands in Tanzania.
MCap~$16 m and $4.68m Cash on hand at last quarterly.
Approx 3.3 billion shares on issue and a consolidation due.
Financial Analysis - Selling pressure seems to have subsided and buying looks to be stronger based upon the recent drilling results and farmin by Rio.
Announced significant increase in Fungoni high grade Mineral Resource located near Dar es Salaam in Tanzania and the price for Hm's is also increasing.
The mining licence application was submitted late September and is expected to take 2 months to process. With a target price of 2.2 cents from Argonaut this seems to have some upside, of course I said that last year, but the new mining laws in Tanzania put a damper on that.
The share price has traded in a very narrow range for a considerable period and eventually will break out.
This tip is entered just to get a shot at an STT jersey and to get my average up, there are better things out there for making money.
There is not much to see from a chart, other than a sideways pattern, but the company is putting out more news and it seems like they are going to push the benefits of this project. This publicity may elicit the interest they need in the project to get the price moving and certainly one factor in the short term will be the outcome of the mining licence application.
