The presentation release to market showed absolutely nothing new. It said SBS was advancing towards completion of the pre-feasability study at Zara. But earlier they said it would be completed by the end of Nov. There is still no indication or update on when it might be completed. Did anyone go to the AGM to give us an update on exactly what was said with respect to any of this? Presumably SBS needs to sit tight in its cash reserves while things improve enough to make the next placement, but one would hope that the conceptual modelling for site engineering and equipment costings etc are relatively low cost and could continue on the current cash reserves. A positive pre-feasability analysis probably won't add value at this stage (see Nevsun for an example of that) but it would give some reassurance to long term holders of the substance behing SBS and some incentive to hang in there for the eventual mining that would restore much of the value.
SBS Price at posting:
1.3¢ Sentiment: LT Buy Disclosure: Held
