Sirius Resources NL (SIR) ran from $0.05 (market cap $7.5m) in July 2012, to $5.00 (market cap $1.1b) by 16th March 2013, following two discoveries, first Nova and then Bollinger. Based on share price, that’s 100 times your investment in just nine months.
After comparing these two companies I see very strong similarities between SIR & GBR. We also have the same successful team behind our exploration efforts and these guys are experienced and know what they are looking for.
Whilst a similar outcome is all very speculative and maybe a long shot, if they do come up with the goods, then a similar market cap would give GBR a price of more than $10. As I say, its speculative and even if we don't replicate the Sirius experience, whatever happens, based on results to date I do believe we will have a commercial operation at the very least.
Be cautious, do your own research and don’t commit more than you can afford to lose. It’s risky, so not something you would put your house on but IMO even just a small punt could pay off handsomely.
For those unfamiliar with the Sirius Nova / Bollinger discovery I have provided a short history.
Sirius Resources NL (SIR) ran from $0.05 in July 2012 (market cap $7.5m) to $5.00 (market cap $1.1b) by 16th March 2013, following two discoveries, first Nova and then Bollinger. Based on share price, that’s 100 times your investment in just nine months.
Sirius Resources back door listed through Croesus in August 2009 after raising about $8m-$10m with a high-risk objective "to find something big".
By the end of June 2012, the company had 151m shares, 79m opts and just $1.6m cash with over $1m committed for the coming quarter.
Trading at just $0.05 per share as at 3rd July 2012, the company had a market cap of just $7.5m.
The June quarterly report was published on 19th July 2012. If you read pages 6 & 7 you may notice some similarities to GBR. IMO the grades were not that special. SIR had identified 3 EM targets from a MLEM survey with a focus on an interpreted "eye" mafic-ultramafic complex, similar to GBR however GBR has identified more than 40 such targets.
The following day the company was queried by the stock exchange on 20th July 2012 due to concerns that they may run out of money based on projected expenditure for the September quarter.
Coincidentally, just two days later on 23rd July 2012 the company halted to announce exploration results leading to its first discovery (Nova). This time the targeted drilling produced better grades which hopefully we will also see from GBR assays.
On 14th August 2012 the company announced a placement of 10m shares at $0.76 to raise $7.5m.
On 20th December 2012 the company announced the completion of a placement of 22m shares at $2.00 to raise $44m.
Following an update on the 2nd discovery (Bollinger) on 1st March 2013 the share price spiked from $2.00 to $5.00 by 16th March 2013, capitalising the company at $1.1b.
As shown in the March Quarterly 2013 the company held 224m shares, 47m opts, $53m cash and had a Market cap $1.1 b.
Eventually By late 2015 the company was taken over by IGO for around $1.8b.
