My average is 3.4 and have also stopped buying.... It wont take a whole heap to turn the price around. It is more the market in general than anything. The Australian market in general is currently sitting on the fence and its not helping. It needs to choose a side, either the down or the up side of the fence. Once this side has been chosen this stock will stabilise.
SRZ also need to get some decent mining consultants or corporate advisers to help promote this project globally. They really need to get back in touch with Miguel and find out his position, and if he still has the access to the capital and connections he once had. If this cant be sold off to Europe then China should be the next target and SRZ should then focus on finding consultants who have doors in to China. Having material is one thing, having an off take agreement is another. You could have the best material in the world, however if you did not have a buyer for that material then it is technically worth nothing.
Hunter IMO probably wasn't the right choice and it probably should have been offered to shareholders. A fund dumped all it shares down to 2.4 and who knows who bought in at that level and absorbed that 6% the fund owned and what their intentions are/ were. That has been the fundamental issue in the drop in SP.
It will take a while to get it back up to break even levels for me, I will wait a few more months to understand the forward strategy and vision of SRZ before I chose to hold or sell. I believe in their ground, however I need to start to understand their end game or exit strategy
SRZ Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
(20min delay)
