Love the finds!!!!!Normally an oil man. But too good are these metals numbers to ignore!!
But let’s do some math!!
Two great companies. Long in them both as of Monday!
Both have made two great strikes in North central BC this October. Let’s compare the two!
Sun Metals vs. Serengeti Resources
Tale of two Discovery Holes in the same hood!
SIR (Hilarious ticker... Acronym for Strike it Rich!!!)
514m of 2.15gpt au!
Core value = $44,200 (65% ownership) = $28,732 Core value owned by Serengeti stock
Now let’s compare our area neighbor
Sun Metals Corp. SUNM.v
Discovery from Thursday/Friday last week.
36.5m of 7.8% Cu (100% owned) = $18,100 core value
SUNM’s results are not fully disclosed. Still 25-30m of Massive sulphides (assays pending) 5m down hole from the end of the 36.5m of 7.9% cu intercept..... Key word... MASSIVE SULPHIDES!
Core Value of 66.5m of 7.9% cu = $33,100 (100% owned)
Good chance the deeper lens of Massive Sulphides will grade in a similar range to the upper lens. But they do have a chance to exceed those expectations as grades up to 18% copper equivalent have occured in the area. Best intercept in Skarn zone ever 15m of 18% cu eq. 9 holes pending and expected ASAP. Only took 10 weeks to go from zero drills turning to results flow. No “delay excuses” here.
Lastly Market Caps
- SIR - 40.27 mil
- SUNM - 18.6 mil
Conclusion.
I love both these stocks!! I will continue to add to both positions over time. But given the long term success of this community (Kemess, Mt Milligan). I just have a feeling both SIR and SUNM have company makers on our hands here!
Its important to note. An argument would exist that if SUNM hits 65m+ of 8% cu. the market cap should appreciate to the 50-75 mil range. Which is the range SIC is currently heading to.
Definitely holding a few more SUNM shares right now. As I feel they will catch up to SIC in the short term. If and when that happens. My plan is to balance my holdings between the two! In a perfect world. lol
All abord!!! Next stop, $0.80 and then beyond!!! That discovery hole is the real McCoy!
Good luck all!!