from a friend:I think SRZ is one the most undervalued Sth Aust...

from a friend:


I think SRZ is one the most undervalued Sth Aust advanced U companies around
(and so I bought 100k today)

60M shares means that at 28c mkt cap = $17m

Compare that with the Mkt Caps of the following grass roots explorers
SIM $35m
SNU $50m
USA $35m
UXA $40m

Clearly undervalued based on those comparisons alone

Has cash of $3.5m + 10m USA shares @ 35c = $3.5m

So $7m in assets which means $10m is its Enterprise Value,

Now heres the kicker,

SRZ's Warrior is a pre JORC compliant deposit, 11.8Mt@ 0.034%U3O8 = 8.8Mlb's U3O8

TOE funding exploration to earn 70%.

Not much value left in Sth Aust U sector ahead of Labour Party conference, but here is one



Mkt Structure

Shares
60m fully diluted
Mkt Cap @ 25c = $15m
Mkt Cap @ 50c = $30m
Mkt Cap @ 75c = $45m

Cash
$3.5m

Listed Investments
10m USA @ 35c = $3.5m

Mkt Cap Comparison with peers
SIM $35m
SNU $50m
USA $35m
UXA $40m


Projects

Warrior Uranium, 30% Free Carried by Toro, S.A.
Pre JORC Compliant Deposit [email protected]o8 = 8.8M lb's u3o8
Net to SRZ = 2.64M lb's u3o8
Take Over value @ $15 lb (what PDN has been doing) = $40m = 66c SRZ

Toro has just begun a drilling program with results due Late April (excellent timing!)


Tarcoola Uranium, 30% Free Carried by USA, S.A.
Bunch of licences in Sth Aust, USA abbout to commence exploration work soon.


Alpine Copper, 100%, Tas
Lots of 50m @ 0.5% Cu intersections and not too deep wither, ie 20-40m from surface, interesting,

More drilling underway


IOCG Olympic Dam type IOCG, various JV's, S.A.
A few JV's, free carried, searching for next Olympic Dam


Tin Tin, 100%, Tas
Apparantly some excellent Tin projects, company is drilling currently, maybe looking at spin off per comments last ann




Summary
With a mkt cap of $17m, with $7m in liquid assets SRZ appears undervalued on a peer comparison basis,

In addition to this Warrior host a pre JORC days Uranium deposit of nearly 9mlb's of low grade Uranium,

SRZ also has a few other intersting projects,

IMO one of the last DECENT Aussie U plays with a mkt cap under $20m