S2R - S2 Resources

[Sean K]

This is like watching paint dry. How hard can it be to hand an Aldi bag to the TLaWC?

 

[finicky]

.125
Not far now @ Sean K ... the cap that was raised @ 0.12

Held

 

[Sean K]

.125
Not far now @ Sean K ... the cap that was raised @ 0.12

Held

I've doubled down at 12c. Might be pissing in the wind, but I expect the Taungurung mob to take the cash on the right to drill on their sacred lands and pocket the billions that they're going to get in royalties when S2R find a Swan Zone under their feet. I'm taking a punt that that announcement might occur this month, hence my pick in the monthly dart throw. They still need the Vic Gov to give the go-ahead and I think that will be a bigger catalyst.

Chart looks disastrous. Couldn't possibly go back to pre-right to get the tenament price could it?

 

[finicky]

Chart looks disastrous. Couldn't possibly go back to pre-right to get the tenament price could it?

Haven't ruminated on the chart so no opinion. Think I'll sit out adding for the time being. Looking at Chalice today, well below placement and SPP price, not uncommon so why not S2R? You did well selling CHN on the button. I'm trying to stay away from specs but they keep pulling me back in - interested in MMA atm (not a rec)

Hold 90,000 S2R @ 0.168 avg

 

[Sean K]

Great news, but only a matter of time. But, it's taken a bloody long time. Hopefully they've got all the paperwork done now for quick submission for the Exploration Licence. Been a slow burn.

Crystal ball says they start drilling the high priority targets in a few months (6-12??), they find something that's remotely like Fosterville and Agnico take them over. Might take 2-5 years...

I was out by 4 days on the monthly stock pick.

 

[Sean K]

Haven't ruminated on the chart so no opinion. Think I'll sit out adding for the time being. Looking at Chalice today, well below placement and SPP price, not uncommon so why not S2R? You did well selling CHN on the button. I'm trying to stay away from specs but they keep pulling me back in - interested in MMA atm (not a rec)

Hold 90,000 S2R @ 0.168 avg

Should be back in black now finicky.

I'm not really a big fan of playing the nearology game, but owning all the land around Fosterville just seems like a no-brainer to me. Still not sure how Agnico let the tenements slide, including all the historical studies and drilling. Having said that, maybe they let it slide for a reason? It's a bit weird really.

I've got no idea what the land is worth on it's own. Highly speculative. Could be zero, or a billion.

One thing that I think is pretty sure though is that once they actually get the EL and start drilling it will draw interest.

My ave price is $0.1393 (not sure how that happened), so will be happy to take half off the table at 26 cents.

 

[finicky]

so will be happy to take half off the table at 26 cents.

I'll hold all mine until it multi-bags - if it does. It was Kirkland Lake that was in the bidding against S2R for the surrounding tenements to Fosterville. Inexplicably they lost out to S2R - maybe it was the socialist Victorian bureaucracy. KL certainly contested for the leases.

 

[finicky]

Volume flooding in, considering time of day and a low liquidity stock.
Has gapped up above my best fit downtrend line, albeit up against second prior high now.
I was wrong apparently about opportunities to buy below the cap raising of 12c - only flirted below there.

DAILY

 

[Sean K]

Volume flooding in, considering time of day and a low liquidity stock.
Has gapped up above my best fit downtrend line, albeit up against second prior high now.
I was wrong apparently about opportunities to buy below the cap raising of 12c - only flirted below there.

DAILY
View attachment 159356

I have rarely nailed a 'bottom pick' but doubling down at 12c now seems like an OK play. But, who knows? This is a pure dart throw.

The MACD on your chart looks very, very tasty. It's a sell at 0.02.

 

[peter2]

A bit of favourable press easily excites the punters. This is how companies like S3 can exist.

 

[Sean K]

A bit of favourable press easily excites the punters. This is how companies like S3 can exist.

Haven't seen the press.

Finicky and I seem to be the only ones on the planet to think this could go from a $60m to a $1b company on a EL or a drill hole.

Being tragic explorationists, taking on risk, will be our downfall.

Or, we'll buy you a beer.

Maybe.

 

[finicky]

@Sean K, yeah it's a big bucks or a nothing company with a heavy tilt to the latter.

 

[Sean K]

@Sean K, yeah it's a big bucks or a nothing company with a heavy tilt to the latter.

I'm going to drive up and watch the first drill hole when it comes about. Pencil it in for 2037.

 

[Sean K]

Been a few good days @finicky since they got the remaining traditional owners support. We should expect something similar when they actually get the EL. Although, that might be factored in now....

Then they'll have to actually drill a hole or two...

 

[finicky]

@Sean K it's the holes I'm scared of.
Talisman (TLM) dropped today, I topped up as the short termers were bored with initial holes providing 'vectoring info'.
Perpetually funded with more assays pending and continual drilling + target replenishment.

Held

 

[Sean K]

@Sean K it's the holes I'm scared of.
Talisman (TLM) dropped today, I topped up as the short termers were bored with initial holes providing 'vectoring info'.
Perpetually funded with more assays pending and continual drilling + target replenishment.

Held

Agree on the holes. Might just be dirt. So, I think I'll be skimming on the way, hopefully free carried by the first duster.

 

[Sean K]

This is very good news, but 'drilling along roadsides' does not sound like a solid geological approach to targeting potential mineralisation.

EL7795 covers the highly sought after Block 4 of the Victorian Government’s North Central Victoria Gold (NCVG) ground release,

This is the first of the four NCVG tender blocks to be granted.

A number of proposed initial drill sites have been identified along roadsides. The overall purpose of this initial diamond drilling is to locate the down plunge extension of selected stratigraphic and structural targets previously identified in drilling undertaken by Kirkland Lake prior to the statutory relinquishment of the ground. More specifically, the intended outcome is to define the overall stratigraphic and structural architecture as a vector to guide more targeted follow up drilling. Full details of this drilling program will be disclosed in the next announcement.

I doubt we'll get the same spike from the last Indigenous approvals in Jul, but would be nice...

 

[Dona Ferentes]

... 'drilling along roadsides' does not sound like a solid geological approach to targeting potential mineralisation.
..A number of proposed initial drill sites have been identified along roadsides. The overall purpose of this initial diamond drilling is to locate the down plunge extension of selected stratigraphic and structural targets previously identified in drilling undertaken by Kirkland Lake prior to the statutory relinquishment of the ground. More specifically, the intended outcome is to define the overall stratigraphic and structural architecture as a vector to guide more targeted follow up drilling.

can get good grid coverage; the N Vic area is pretty well settled, with smaller farms and a grid style of service and transit roads ... makes for quick and easy access. plus no need to get permission to go onto farms.

overlying sediments aren't too deep, i think.
(following a rotary rig, I did geophysics for CRA in the 80s, doing exactly that, across the Mallee.. it was every 20 km but we put a hole to bedrock < through Murray basin sediments >, punching out one a day)

 

[Sean K]

can get good grid coverage; the N Vic area is pretty well settled, with smaller farms and a grid style of service and transit roads ... makes for quick and easy access. plus no need to get permission to go onto farms.

overlying sediments aren't too deep, i think.
(following a rotary rig, I did geophysics for CRA in the 80s, doing exactly that, across the Mallee.. it was every 20 km but we put a hole to bedrock < through Murray basin sediments >, punching out one a day)

Yeah, I think they're going to have to get onto farms for some of their drilling. Will have to wait for the end of harvest for that, or compensation for clearing tracks and pads to where they want to drill.

 

[finicky]

Gee a brain numbing wait and finally SR2 gets to drill roadsides. A hand wringing thankyou to the great Victorian government, Bendigo council and especially the gracious Dja Dja Wurrung traditional owners who adhere fiercely to their ancient cultural beliefs. And SR2 has to spend $10.4m. And people are buying it.

Held