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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Strategic Ret. | SRR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 1.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
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| 1.50 | 1.50 |
| Top Posts |
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Posted at 19/8/2014 08:46 by the stigologist that at surface bulk sample could be worth multi-millions by itself surely ?ASX listed SRR The Shaw River Company which is building a global manganese business has been running the development of Otjozondu project in Otjizondjupa Region for the past three years and the latest quarterly activities report ending 31 July notes they have progressed the 'Start- up Production Plan' (SPP). SPP targets a low capital, staged, development option for the project. In addition, Shaw River has successfully outlined an 'at surface' manganese bulk sample of up to 265 000 tonnes from up to 8 areas with some zones over 36%manganese. Outgoing MD Peter Benjamin noted that Shaw River continues to build upon its successful exploration program at the Otjo project using a combination of relatively low cost soil sampling, rock chip sampling, mapping, trenching and geophysics aimed at identifying new zones of manganese mineralisation for future inventory. "A new area being assessed for future inventory is the Bosrand deposit which contains strong visual "manganese mineralisation. This area also corresponds with a mineral resource reported in accordance with JORC 2004 and contains areas of higher manganese ( and higher iron) grades and is located some 9 km north of the Labusrus plant site," he said. |
Posted at 13/8/2014 21:14 by the stigologist post from hotcopperok, so let's look at the positives: new funding = "provide working capital to enable Shaw River to rapidly progress the development of the Otjozondu Project and bring it into production as quickly as possible." Otjo became SRR's focus and they always talked up near term production, but have never quite got there, in fact, they seem to have lost their way in a big way. as a result, investors lost confidence and SRR's share price has dropped into the abyss over the last year or two. It has also struggled with lack of funding to ramp-up progress at Otjo. this development could well give SRR a fresh injection of enthusiasm and a new s/holder which wants to fast-track the Otjo project to production. new funding = no CR in the foreseeable future. AGO wants out. It's loan facility is still repayable, but the interest rate will be reduced from 11 to 6% and the facility is repayable in 5 years. This is manageable. thank you, AGO. the new managing director's performance rights are dependant on progressing Otjo as quickly as possible, ie "10 million performance rights which convert to ordinary shares upon First Commercial Ore Shipment from Otjozondu" further, "Mr Cunningham will be retiring from current directorships to focus on the development of Shaw River and Otjozondu." the big question will be whether this new blood can steer SRR to where it should have been in 2013 ... producing?! ahhh, the million dollar question. I would hope to read a statement from our new managing director in the near future about how he intends to turn SRR's fortunes around. SRR has a market cap of about $7.23m at .008c. it's current known resource at Otjo (see below) alone would suggest a higher market cap is warranted. "Shaw River has successfully outlined an "at surface" manganese bulk sample of up to 265,000 tonnes from up to 8 areas with some zones >36% Manganese." (excerpt from 31 july 2014 announcement) SRR has a "Mineral Resource estimate totalling 17Mt at 22.5% Manganese" (excerpt from 11 december 2012 announcement) "The Otjo Project possesses a number of very favourable characteristics, including: * Located in Namibia, a mining friendly and low sovereign risk jurisdiction. * Excellent proximity to existing public user road, rail and port infrastructure. * Granted mining lease with environmental approvals in place. * Potential for simple open pit mining due to outcropping resource tonnes. Processing plant consisting of crushing, screening and beneficiation equipment is owned by Otjozondu Mining, currently on care and maintenance. * A resource tonnage defined in relation to global peers which could underpin a significant mining operation. * A large tenement holding covering 90% of the known Otjozondu manganese field and, * Considerable exploration potential with only 13% of the known strike of the mineralised horizon tested to date." (excerpt from 11 december 2012 announcment) the potential is there, the resource is there, we have known that for some time now, but the strategy in getting to production has not yet worked. we will have to wait for mr market to tell us what it thinks of this new funding move by SRR. |
Posted at 05/4/2014 22:34 by stockonomist Anybody ever looked into this one ?Came across a news release which looks interesting. Going to do some digging. Has been a reverse 50 bagger or so over the last 3 years but must have something interesting if Atlas Iron own 53% ? Also the news release recently suggested they have 157,000 tonnes of rock at surface ready to be 'processed' ? At say $500/tonne manganese price and say 25% ore content that could be about $20m worth of stuff to provide cashflow for a $5m Mkt Cap Company to bootstrap itself up ? |
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