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Got to be something leaking here to see this sort of rise, surely.
My guess is positive drill results first with some JVs waiting in the wings. Would like to see 0.5p on drill results, JVs and it's anyone's guess, north of 2p for starters.
What's good to see is that we are settling into a narrow trading range around 0.20p, back to pre Covid levels and yet with more exciting developments beginning to take shape. I'm not one for trading so have held on to mine, I'm very slightly in profit having averaged 0.17p in, but the potential upside far outweighs the very small profits I could skim off now. I'm more convinced than ever that something big is in the works, with both the Iron ore and silver projects, and I don't want to miss out for the sake of an extra few hundred quid in my back pocket.
https://www.sorrentoresources.com/what-we-do
"The Sorrento Resources owns one of the largest private tenement interests in Australia with exploration ground covering over 3,000km2. The company also has significant investment in Joint Ventures and investments in publicly listed resource companies both in Australia and the UK."
" THE COMPANY’S CURRENT PROJECTS INCLUDE:
....
· Direct Shipping Ore Iron ore exploration"
This is the big one for me. Direct offtake agreement for the Ozzie Iron Ore projects inbound. Huge, huge news coming.
Let's not forget that we're only returning to pre-Covid SP levels now. With the price of silver flying and the company having advanced a number of their projects during this time, this is undervalued even at today's highs.
The silver may be getting all the attention at the minute, but I'm firmly of the opinion that our long term prospects with the iron projects have even greater earning potential. 60-odd % Fe grades that can be dug out of the ground and shipped to manufacturers in China as-is. That's the real prize IMO. So much going for this company at the minute.