SRR 0.00% 2.3¢ sarama resources ltd

Interesting to note your infatuation with the share price, it's...

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    Interesting to note your infatuation with the share price, it's part of a relatively risky but balanced portfolio of mine that has a little bit of gold exposure when the market turns. The share price isn't of concern to me at this end of the market.

    I understand why the market isn't picking up on SRR, and that's because its boring. It will do a PEA and make absolute bank with the already enormous resource it has found. BUT, its not pretty or rampy or is gold on the tip of everyone's tongue.

    With respect to what have they achieved? From the $8mill from IPO, less IPO costs of $750k, they have spent $1.8mill on the payment to Barrick for the land, $3.6mill on exploration. As at 4 May 2023, they have $2.2mill AUD and have just raised $2mill, So I'm expecting that they'll have around $3mill AUD at year end.

    As for progress, African countries are difficult to work around given the government mandates and exceedingly difficult permits so there is a lot of the behind the scenes work that is gone unnoticed. For actual grunt work, 21,000m of drilling finding extensional gold and testing new areas while also being close to finishing a PEA (if you contacted anyone from management, they're quality at getting back to you, unlike you say).

    Currently sitting at an EV of around $7-8mill, if you can't see value here it is your own fault but I can see why people are selling due to the ever declining economic climate of Burkina Faso. I think this is a little green flag shown as a red, as the government will likely try fast track any additional funds the country can muster in a time of economic and governmental decline.
 
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