RE:RE:RE:la vente de GSV Mr. B
Sirios has a long way to go hence the low share price and valuation of the project. It has taken 5 years to get to where other companies have achieved in a year!
Early stage developer first achieve a resource which they have completed. After that they try to expand the resource and improve the viability of the resource. This is done through the completion of a PEA. The confidence level of a PEA is still very low. As I recall, it is in the range of -30 to +50 requiring a contingency of 25% to 50%. Sirios is expected to reach this stage this year sometime. Following the PEA they then move to the PFS requiring closer spaced drilling, more mettalurgy tests etc. Basically another year at least. This then improves the accuracy of the study to -15 to + 30 and allows for a reduced contingency and identification of reserves if economic. Following the PFS comes a full FS study! Likely another year and again much more drilling and tests to be run as well as much more detailed design work and economic stuy. This is the stage where GSV is at! If you want more detail just take the Sirios Resource technical report and see how much drilling has been done compared to GSV and or Victoria that will give you an idea how much more drilling is required. Once the PEA is complete and is posted on Sedar you can simply read the recommendation section to get an idea of the additional amount of drill and testing that will be required.
At anyrate even when the complete the PEA the confidence level still remains very low. As I said getting from there to a full FS will likely take 2 years! That said, some companies take 5 or more years. Some for cash reasons others because they are lifestyle companies where you are just feeding the beast ie management. It is a great gig to have especially if you can draw it out forever!
My best case scenario is that they get taken out by someone once they complete the PEA if it is positive. Given that the common scenario these days for junior takeovers is about a 40% premium so .10 a share is about right. Yes some have got taken out for much higher but they are companies that are either farther along in the process or who appear to have amazing deposits like Great Bear did!