zara results inclusing 10m at 43gt gold, page-36

Olympian,

Traded in and out of SBS back in the good (or bad) days when the first discovered Asmara and gave it to Sunridge. SBS then promptly rode the sunridge shares up and down the next few years before their forced sale to cover debts at all time lows. Even before the eventual sale SBS traded at or below the value of the Sunridge shares and the cash they no longer have.

I don’t have all that facts but its not a great story in creating shareholder wealth or instils my confidence in management to move along with their Zara and Tanzania projects.

I shares your thoughts regarding the gold boom and was thinking about your call on 100kozpa 1Moz deposits being worth $1B in years to come not really thinking this was likely. But then I remember a few ant like nickel mines that were worth well over a billion dollars not long ago that you, me a shovel and wheel barrow could run.

Zara would be a company maker but at the moment the Eritrea factor is still a wanning factor on the sp. Also they spent $1.4M last qtr and have just $1.3 left? SPP at less than 2c would be ugly.

Sceptic of SBS I remain but lots of gold in such a little company.