The stock is far from overvalued IMO. The recent results are exciting for those who can read/assess what's happening with the mineralised zone. The angle and depth along with the width and grade of mineralisation that was hit is impressive. This gold lode won't just disappear to thin air at depth and it potentially looks to be increasing in width as it goes deeper. We terminated in mineralisation at 140 meters depth to EOH. So the big question is how deep does it go? Hard to say exactly what's happening based off one drill hole but this drill hit does look very good and it appears to be a significant discovery. I'm no geo but this is just my knowledge from years of looking at drill results and breaking down exploration drill results.
BYR another play that had amazing drill results has a market cap larger than S2R. Both sets of drills results for each company has added substantially to both stocks market caps. I'm just using this as an example to show how one drill hole can completely rerate a stock.
The stocks are obviously both located in different jurisdictions..one being in Australia and the other in Africa.
As I mention previously both results are very exciting but S2R appears to have gone straight through a mineralised lode that is steeply dipping which is still open at depth. This is why I grabbed what I could at 42-43 cents. I even topped up on the Friday prior to the run and touch to 50 cents. I believe investors who later spot the stock and know what they are looking at will be excited by what they see. The info below pretty much shows this is a significant am discovery based off the location of prior aircore holes alone with the recent drill that ran under these aircore drillings. As mentioned prior the angle of the drill shows true width is likely to be 33 meters but it could be wider. More drilling required.
"RC hole SPBC0313 terminated at a depth of 140 metres in mineralization due to the rig reaching its limit of effective penetration. The broad composite mineralized zone intersected in this hole is 20 metres to the north of and deeper than the mineralized zone defined by two previous aircore holes, which intersected 32 metres @ 2.47g/t gold in SPBA2833 (see previous ASX announcement made by Sirius Resources on 3rd August 2015) and 12 metres @ 26.5g/t gold in SPBA3740 (see previous ASX announcement of 14th April 2016), which ended in mineralization grading 12.8g/t gold. The intercept in RC hole SPBC0320 is a further 40 metres north of SPBC0313 and at approximately the same depth. "
Just comparing cross sections..see below.
BYR
S2R
I know what excites me more.
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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Price($) | Vol. | No. |
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1 | 15000 | 0.084 |
2 | 19051 | 0.083 |
3 | 53398 | 0.080 |
1 | 50000 | 0.078 |
Price($) | Vol. | No. |
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0.090 | 150000 | 1 |
0.100 | 5555 | 1 |
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0.115 | 135806 | 3 |
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