Market did not like that - BHP only take 50% offtake from Nova and Jinchuan likely the rest, no news on the % likely 75% less than expected net to SIR as Kambalda already has WSA MCR PAN ore in tow now SIR joins the cue at Kambalda.
And Balloo results with lower grades...also negative, the run past $3.10 triple top is over again slapped back down to under $3.00...this resistance point is proving stronger than thought.
Next announcement -$50M cashburn this March QTR spent, cash pile lowers, expenses higher, drilling is burning the capex cash intended for production restart.
Next stop $2.20 if it cannot hold $3.00 - $3.20,
The market wants to hear SIR tolling deal with jinchuan or POS for milling nearby ore to LJ or offtake deal on gold at nearby mills. It wants to hear early production, the mine works are done cheaper than planned or NP rocketing up. At $1.18B MC higher than large producer WSA its sticking out like a sore thumb with a high valuation. Its expectations are so high that there is no room for disappointment on anything.
Please NI legend Rob Dennis get that Nova infrastructure up and running asap.
SIR Price at posting:
$2.96 Sentiment: None Disclosure: Not Held
