The permits to explore (drill, and/or collect samples presumably) have not been granted. Batangas or Gold Cross. That is, no matter how much you would like to do it, you cannot start drilling holes in the ground. Such permission could still conceiveably be years off.
Both the above are exceptional!! areas that if drilled successfully could propel the SP into orbit. I am talking 30, 40, 50cents or maybe far more. Who knows.
I think it is important to recognize the potential of these excellent tenements and management's skill in acquiring them.
BUT.. until you have the permission to drill, you have nothing much. Remember if you are lucky and find something and want to mine, you presumably have to go through another dreadful permitting process, with its endless delays (and brown envelopes).
But mining does not have to commence in order to add spectacular value to the SP necessarily.
As for coal, well that is less than exciting I reckon.
Seems it is going to be tied up in a legal dispute. For how long.. and at what cost to SXX? no idea... .. and then IF one day you find something and the present mob are in government, and you dare to make any money out of it, it will be taxed out of existence. So why bother??
Then again if you find coal, the idea I believe is to flog it off as an energy resource to the savvy Chinese or Japanese. The goverment has no problem with flogging off the national jewels such as farming land, minerals like COAL, and food resources (e.g. sugar).
No problem... it's the way to go!
So there are shares on offer at 2.3c and 2.5c and no takers.
The above kinda explains why I think.
Seems so cheap.. but then when you look at it closely...... is it really that cheap???????
It is a CR that I dread. I do not want to sink further into the quicksand.
All I can hope for is selling the SXX uranium interest off at a great price to China. Another Australian energy resource sold off to foreigners. Who cares? not me any more!
SXX Price at posting:
1.8¢ Sentiment: LT Buy Disclosure: Held
