Todays chart for the first time after a big move up has continued higher making a new closing high on lower volume, lower volume was almost certain for the day but the move up has caught most by surprise making a new long after a good drop on the open.
Tracking SIR from the start of the discovery closely this is the first time ive seen this type of move, where to from here is anyones guess and SIR has a habit of delivering savage blows to everyone who has predicted a top.
While the 52m zone is impressive with size the sulphides in that particular will grade lower, putting that aside if this width can continue at depth and transform into a Massive sulphide zone it will be thumping news.
As we are heading towards the middel of conductor 1 one thing is very clear, she is getting bigger at a rapid ratem being cashed up with 4 rigs cranking out samples will continue to see a massive amount of news flowing.
After seeing the 52m zone its entirely possibly somewhere in conductor 1 we may be lucky and get zones heading towards 100m in thickness.
Potential tonnage estimates that have been at the very start of the discovery were based on 5m thick then 10m thick on average, the way these zones are opening up we could be soon lookig at an average of 20m+ in thickness.
I told the wife we went all in again and she just shook her head in disbelief, she wasnt happy!!!
SIR Price at posting:
$2.06 Sentiment: None Disclosure: Held