S2R - S2 Resources

[Barnouste]

Glenlogan getting close, very close, as early as tomorrow or Monday might see some movement in the share price

 

[Sean K]

Glenlogan getting close, very close, as early as tomorrow or Monday might see some movement in the share price

The first hole at Glenlogan is going to take 4-6 weeks from 18 Jul and then go in for assay which might take another month for results, so mid to late Sep. And it might hit nothing. Their record of hitting anything of substance has so far been sub par.

 

[Sean K]

Creasy isn't doing too well on this one. He needs to work his magic and get them to zone in on a Swan or other type bird. So far they've just drilled up dirt, hence the disastrous looking chart. Not even sure if they've got drills spinning at the moment.

Only have a few bucks in this, throwing a dart in hope. Maybe the best thing will be for Agnico to buy it off them.

 

[Sean K]

@finicky will you get on the phone and tell these guys how to drill holes into mineralised ground. Thanks.

 

[finicky]

@Sean K they've found a variety of igneous rocks with a single dd hole, what more do you want?
I'm stoked.

 

[Sean K]

@Sean K they've found a variety of igneous rocks with a single dd hole, what more do you want?

VMS with visible gold and chalcopyrite.

Don't igneous rocks make up 90% of the crust?

 

[Sean K]

Market has spoken.

I thought 9c might have been a bottom and it was building some momentum for an upward run, but, wrong.

I wonder if they're still doing 'roadside drilling' around Fosterville, or they've managed to get farmer's clearances to drill where the actually want to? Or, they keep drilling at depth around Goornong where they've discovered some dirt along a fault they're calling Blackadder. Funny.

I might drive up there with my metal detector and point out some good locations for a drill collar.

These guys need to get sirius.

 

[finicky]

"Well funded"
@Sean K last time they said this and had this level of cash, "$4.4m end if Sept Qtr 2023, it was only a month or two before they did a capital raise.

Held
Holding

Diggers and Dealers 5 Aug 2024

 

[Sean K]

"Well funded"
@Sean K last time they said this and had this level of cash, "$4.4m end if Sept Qtr 2023, it was only a month or two before they did a capital raise.

Held
Holding

Diggers and Dealers 5 Aug 2024
View attachment 183632

They might be waiting to pull up some core with some golden freckles (or salt) in it to then hit the market with a CR to continue paying the director fees.

 

[Sean K]

They're going to be raising at a pretty dismal level @finicky

 

[Sean K]

@finicky we only have two days to nominate as Directors. I'll second your nom if you second mine. Let's take over and show them how to drill a hole into the ground and salt it with some yellow stuff.

This is a very sad picture.

 

[finicky]

Bottom drawer hands off tatts ticket.

Held
Holding

 

[Sean K]

Bottom drawer hands off tatts ticket.

Held
Holding

This had a 6 in front of it last week.

Not sure why they're wasting their time throwing darts in WA and NSW. Maybe because they can't find any gold in Vic.

 

[Sean K]

When I first log into my account each morning and look at my portfolio there's a little red circle next to any stock that has had something significant happen to it the past day.

It's wonderful to see an 'important announcement' or '12 mth high' next to some of them.

In the case of S2R for the past three years it's been: 'New 12 month LOW'.

So, I'm looking forward to the first week in Jan 2025 when there's a little red dot next to S2R saying 'it went nuts in December'.

 

[finicky]

I predict that could happen

 

[Sean K]

I predict that could happen

A 12 month low, or it went nuts in Dec?

 

[finicky]

Just being flippant @Sean K. I don't follow it at all lately.

Held
Holding

 

[Kyngdom]

2025 is the year for S2R to shine the same as CHN did in 2020....IMO
Land access agreements have been difficult around Fosterville of late...Hence road side drilling...
FGM hearing into the mine expansion completed on DEC 13th 2024 and the VIC Govt has 40 days (usually 30 days but extended over Christmas) so around 22nd Dec And if 10 year approval granted with conditions then there could be some M and A given the fact that the Lower Phoenix zone that housed the swan zone butts up to S2R land holding and they totally surround the mine site...
Glenlogan should get another hole in Jan to test the theory that there are later time mineralised intrusions in or around the target zone they have drilled in 24..

www.s2resources.com.au/documents/ASXAnnouncement241028EncouragingresultsfromfirstholeatGlenlogan.pdf

The next target will need to be chosen carefully IMO as capital will be needed shortly they went into hibernation the last quarter with limited exploration activity to conserve cash so expect some fireworks in 2025 IMO DYOR....

 

[finicky]

The next target will need to be chosen carefully IMO as capital will be needed

S2R made what looks close to an all time low @ 0.061 four weeks ago. Has enjoyed a mini bounce with miniscule volume since then. Think I'll 'risk' missing out on any event moving its market before the next cap raise descends. FOMO is generally diminishing in me these days. It's really a trading stock and looking back I probably should have opined to @Sean K to stop loss it. I failed to appreciate how expensive deep drilling is in this terrane.

Held
Holding (unless I need a CGT loss)

WEEKLY All Data

 

[Sean K]

S2R made what looks close to an all time low @ 0.061 four weeks ago. Has enjoyed a mini bounce with miniscule volume since then. Think I'll 'risk' missing out on any event moving its market before the next cap raise descends. FOMO is generally diminishing in me these days. It's really a trading stock and looking back I probably should have opined to @Sean K to stop loss it. I failed to appreciate how expensive deep drilling is in this terrane.

Held
Holding (unless I need a CGT loss)

WEEKLY All Data
View attachment 190331

You should pick this in the 2025 full year tipping comp finicky. I'll do your monthly updates for you.