Just purchased a reasonable parcel of SRR based on May Presentation showing the potential of their Baramine manganese drilling. Looks similiar to Woodie Woodie which was owned by CSM (taken over for $1b)Woodie Woodie Mine probably represented about $700 m of this figure. SRR current market cap around $30m plus their deposit is far closer to port than Woodie Woodie & look like have similiar grade manganese in their deposit. Manganese 4th most used metal, need 90 kg per 1 tonne of iron ore for steel. Mining low cost operation. Two major shareholders AGO & OMH.
Chinese need steel & the rush is on for Iron ore, but remember steel needs manganese as well.
Very early stages on SRR, but it has big potential. Some stock being provided by sellers up to 20 cents, after 20 cents barrier is broken SRR could move significantly higher on good results from Baramine drilling results expected later this month.
Regards
Buffett
PS No investment advice given please do your own research
Just purchased a reasonable parcel of SRR based on May...
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