The Chalice view of the Zara prospect is rather excition “From a grade perspective, it is worth noting that we have not seen a high-grade open pit gold mine in Australia for many years – possibly since the Chalice Mine in the 1980s which had an open pit head grade of over 5g/t,” he said. “This was a fabulously profitable mine which generated enormous returns for its investors. We are aiming to replicate something like this at the Zara Project.”..but despite this there has been little response from the market. Interestingly Chalice are likely to be way more informed than SBS shareholders as they clearly have internal SBS information on progress of the initial pre-feasability study, the results of which have never been released to shareholders. This whole thing has been handled very poorly by SBS. One billion dollars worth of gold in their control yet SBS is nearly broke and valued at 1.6 cents. With a little effort (like releasing the positive implications of the pre-feasability studies so far, SBS might be able to stimulate enough excitement to see the options excercised, giving them enough cash to move to the next stage themselves. Instead it is secret squirrel within the company and now presumably buried in internal secrecy agreements between SBS and Chalice.
SBS Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
