Sylvania ticked up nicely today 2.8% towards the close at 126/128 and may be heading north back towards high 156. (Even at existing levels still a 4 bagger from low of 30p)
Understand that CEO Terry McConnachie, is in London next week. Funds will be keen to hear how they are making progress.
Also note that Great Australian Resources Ltd (GAU), company in which SLV has a "strategic" stake are getting more active in Platinum.
We are still waiting on news of SLVs major planned acquisition....
Great Australian fully acquires platinum projects for $4.9m 5-October-07 by Edited announcement
Great Australian Resources Ltd (GAU) has today announced the consolidation of its strategic platinum projects in South Africa after reaching agreement to buy the outstanding 50 per cent shareholding in Platinum Mining Ventures Ltd.
The deal comes after last month's $4 million purchase by Sylvania Resources Ltd, a successful Australian listed platinum producer which holds mining and development projects near GAU's tenements, of a cornerstone 19.9 per cent interest in GAU.
GAU's Managing Director, Mr Joe Cornelius, said "that by concentrating on its South African projects, raising cash and reaching agreement with Sylvania, the company could now maximise its position in the world's most important platinum mining region at a time when the metal was trading at record levels above US$1,300 per ounce."
"We are now strongly positioned to exploit our asset position in the important eastern limb of the platinum-rich Bushveld Complex," Mr Cornelius said. "Sylvania was attracted to us because of the near surface potential of the Mooiplats project, which we have recently been testing with a drilling program that targets the Merensky Reef."
SLV Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
