Firering Strategic Minerals: From explorer to producer. Watch the video here.
A clear tug going on between buyers and sellers, it’s a right yo-yo today. MMs must be having fun. Next week should be interesting with results for the assays from the remainder Phase 3 holes and for the soil sampling from the new targets (incl. one interesting target with active artisanal work). Should also expect to hear soon on the data modelling for the partial-JORC for Sanama. Hoping this will provide SULA with the much needed financial footing. GLA
The tide is turning towards buying.
In his last interview, RM does state that he is confident that the driller will hold on to his shares rather than sell them off. Shows that the driller has confidence in SULA’s future outlook. Surely, the driller can always sell through various means but based on RM’s opinion, seeing as he is closer to the drillers, I think it is safe to assume the driller will hold on. Maybe they might issue TR1s in the future, not sure how frequently they are obliged to do that. See RM’s statement about the driller at the 6:15 timestamp in the interview link below: https://www.youtube.com/watch?v=DmxTCYje8VQ
The clauses around the new Sharing Agreement gives both SULA and the new investors a clear incentive to push the price back close to 0.161 or higher. This along with the reduction in salaries and a clear’ish path to Sanama Maiden Dec 2017…all encouraging signs as shows commitment to deliver. £900k sets up SULA nicely for operations till September’ish 2018. SP after today should hold (bar mid-Sep 17 pending the 50% pay off to drillers, depends on results though). Ball is now clearly in RM’s court. He’s got to produce good Sep results, have confident areas identified by the surface sample programme and give us that Sanama maiden. I think this is good. They know that the SP will eventually reflect the Ferensola resource they have in mind.
Thanks Swanley. Amongst my sympathy for Freetowians right now, it extends to SULA too. It seems like this company is always up against mother nature in one form or another....
Small possibility that mid-Sept results might be delayed if they were unable to get samples out of SL on time before the floods hit Freetown (transit point). Not sure how badly the transportation system has been affected.
Numbers have risen to over 300 now. I hope the government's emergency planning can give some relief to the situation, especially seeing as the rainy season is still ongoing. Reports say rainfall this season in Freetown has been triple the average they usually see. Tragic stuff.
RM listed as speaker on the latest line-up for the Apr 2018 UK Investor Show. 2017 was a sell-out for the same show. Good to know RM actively thinking about the future with potential for growth. https://www.ukinvestorshow.com/speakers/
Kimura, I think Sanama’s results so far are quite significant (with my limited knowledge on what makes an economical mine). As for targeting other areas, they have had to do that given the size of their license area, otherwise, What is the point of having all that land? But you’re right, something has gone amiss in keeping investors interest in this stock. Due to placings, absence of capital, etc. There can be a more clearer roadmap from RM. Ferensola has life in it.
Fair enough. But SULA is sitting on a fairly decent amount of gold. Just need some hard-nosed backers to see the project through.
Shouldn't they do a consolidation? Seeing as more dilution might be likely. Albeit, hard to believe that if this dilution takes place, the price will go down beyond 0.10 (as those levels were before Madini cash injection anyways)? They must be aware that if this dips nearby 0.10, the chances of a SP recovery like back in Oct-Nov 2016 is unlikely. This because of the current PI sentiments, a supposed lower-end JORC estimate and 2.4B shares in circulation. JORC Estimate might only jolt the SP nominally from whatever year lows it happens to be by then. Hardly a way to prime investors for 2018 plans. So, shouldn't they consolidate or RM best be finding new suitors for a cash injection?