TSX:SRU.UN - Post by User
Comment by
Cdn_clipperon Oct 26, 2001 10:31pm
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Post# 4337940
RE: questions for longs
RE: questions for longsI can't answer many of your questions, but I wouldn't spend a lot of time worrying about logistics. It's not that far from Rankin Inlet and the potential wealth here makes the cost of putting road and power in bearable.
With respect to the value, what I'm hearing is that the PGM's may be in the order of 10 to 15 million onces. With about 50 million shares out, (fully diluted) I think the play is worth in the $15 to $20 range (USD). This places the overall value of the property in the range of $750 million to $1.0 billion (USD). This seems like a huge leap from the paltry price it is currently trading at, but the lack of news is holding it back. The next few months will should be rewarding as they release additional assays on new zones on holes that have already been drilled. As others have said, this is one of the most inexpensive exploration programs around.
I've been in this for a long time and I'm cautiously optomistic that we have a winner on this one.
CC