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Thanks for reply 1investor - a bit more time should reveal all!!
Thanks Dubs
I suspect PC doesn’t yet know the CRMC’s intentions fully, a matter which will only become clear to him and us when the trials are complete and the “real” negotiations fire up.
If the CS Project were to be sold, as the company’s current most valuable asset the proceeds would have to filter back to shareholders one way or another through a special one off dividend or some other mechanism. It’s not as if it would simply fill the company coffers for example, without re-setting the share price which would in itself provide shareholders with the opportunity to exit at a higher than current share price, if that’s what they chose.
The company has numerous assets, largely as yet undeveloped, which it could turn its attention to, including Baker’s and others which have been mentioned. Picture the hypothetical scene, Baker’s proves extremely valuable – that alone would present a long term mining project for the company to get behind. So I don’t think we need worry too much about where the company would go from here if CS were sold. The company expertise lies in exploration and it’s likely that the company will be aware of other, as yet unnamed, opportunities should the finance and circumstances become available. After all, its ambition is to be a self-funding mining exploration company.
Regarding Baker’s, I have no doubt 5 weeks into lab analysis that PC knows what’s in them.
Whatever the short term throws up, the future looks bright for SRES and shareholders.
Hi 1investor, your post is interesting.
I too was trying to figure what the offloading of two untried projects tells us about possible future plans. I know that you and others for example believe a CS project sale is likely. Notwithstanding the CRMC trials are still ongoing Patrick himself must know what the CRMC have in mind viz a viz buying the project or just committing to offtake. Either option works for me by the way!
Bear in mind that Patrick has already announced we are in discussions with interested parties for Clayton too.
If we were planning to simply sell the CS Project then you would imagine PC would want to use the monies from that to do some drilling at the likes of Stonewall and Garfield (other cats are available!) so does this indicate something?
I like your idea that perhaps somehow we have had an early heads up on Bakers and perhaps the core looked promising or perhaps the results are back with Patrick and he is reviewing before issuing an RNS.
Heck it's a Friday so lets go with a positive thought but I do wonder if we sell CS what the Companies role / focus will be on.
Two thoughts occur following yesterday’s RNS; firstly, it emphasises the company’s unwavering commitment and confidence in the CS Project as its core asset, and secondly, you wouldn’t dispose of 2 gold assets, even if early stage, unless you’re certain you have a better and more valuable gold asset in your portfolio.
So I’m expecting good Baker’s assay results very soon and transformational CRMC trial results soon after.
Going on today’s rns, pc I think got an excellent deal. I can understand bay being ditched for cs as at that time cs was the perfect project. I’m surprised that bay has so far been ditched for baker and Clayton. Can’t get my head round that.
Rod, yes we are too small right now to take all off these on so best to sell on and focus.
It will be interesting to see if he can get a good deal on Clayton and Bakers is an unknown right now but all will be revealed there soon.
Hoping Bay State will come up the list too some time.
GLA
Makes me think dubs that pc has sold excellent projects to concentrate on cs, baker and Clayton. Maybe and just maybe pc is happy to let them go as he knows what we have in other 3 projects.
(Davis not Davies) LOL
Wait for it................. - I can hear him tapping away now :)
Nice little tick up just prior to the close.
As others have said probably good business to sell these on as we have done minimal work on them and have more pressing projects.
Perhaps more news soon...
(Davis not Davies)
Happy with that, keep the focus on the CS Project and we still benefit if POW's exploration efforts leads to a viable discovery at either property.
That is a nice unexpected RNS this morning. Happy with that. More RNSs to come please PC.