SS1 - Sun Silver

[System]

Sun Silver Limited is an exploration and development company with a focus on developing the Maverick Springs Property located in Nevada, a globally significant tier 1 jurisdiction silver gold asset with an Inferred Mineral Resource of 292,000,000oz AgEq at 72.4gt Ag. Sun Silver aims to develop the Maverick Springs silver project in Elko County, Nevada, and undertake early stage studies to assess the feasibility of silver paste and solar energy opportunities.

Solar energy capacity within the United States of America alone is forecast to increase by 125GW per year to 2030. The United States has set a target for solar energy to provide 30% of all electricity in the United States by 2030 and 45% by 2050. The estimated amount of silver required to achieve this target by 2050 represents as much as 98% of the current known global reserves. The Company is therefore excited about the potential future opportunities for its Maverick Springs Property if it can be successfully developed.

The purpose of the IPO is to raise up to $13,000,000 (before costs) to enable the Company to:

• exercise the Option and make payment of the cash component of the consideration under the Option Agreement;
• complete infill and resource expansion drilling at the Maverick Springs Project;
• expand on previously completed metallurgical test work and carry out new test work;
• commence mine and processing studies for Maverick Springs;
• commence early‐stage studies to assess the potential feasibility of silver paste and solar energy opportunities;
• progress United States of America (USA) Department of Energy (DOE), Department of Defence (DOD) and Inflation Reduction Act (IRA) grant applications;
• have sufficient working capital for additional marketing, exploration and future acquisitions; and
• pay for the costs of the Offer.

It is anticipated that SS1 will list on the ASX during June 2024.

Sun Silver - Maverick Springs Nevada ASX

Sun Silver aims to further explore and develop the Maverick Springs silver project in Elko County, Nevada, which has an inferred mineral resource of 292,000,000 oz AgEq at 72.4gt Ag.

www.sunsilver.com.au

 

[Dona Ferentes]

Listing date	05 June 2024 ; 11:00 AM AEST
Company contact details	https://www.sunsilver.com.au/ Ph: 61 8 6166 9433
Principal Activities	Exploration and Mining
Issue Price	AUD 0.20
Issue Type	Ordinary Fully Paid Shares
Security code	SS1
Capital to be Raised	$13,000,000
Expected offer close date	17 May 2024
Underwriter	Not underwritten. Wagtail Capital Pty Ltd (Lead Manager).

 

[Dona Ferentes]

Listing date	15 May 2024 ; 11:00 AM AEST ##
Company contact details	https://www.sunsilver.com.au/ Ph: 61 8 6166 9433

.
looks like SS1 has been brought forward to early next week

 

[noirua]

Is IPO mania back for the ASX? Sun Silver jumps 100% on first day of listing

Sun Silver is enjoying a strong debut on the local bourse with shares up 100% to 40cps as miners enjoy budgetary stimulus.

themarketonline.com.au

The stock surged upwards right out the gate on Wednesday, buoyed by its own value proposition – namely boasting the largest silver reserve on the ASX, according to management – and also the beneficial effects of a strong day for the materials sector.

 

[Dona Ferentes]

right place, right time

IPO at 20c => 60c in 3 days

 

[mullokintyre]

SS1 might be interesting come monday.
Big fall in silver Friday night might see it come back to early 40's .
Might be interested in a nibble at those levels.
Mick

 

[mullokintyre]

SS1 up 16% today.
Wish I had taken more than a small nibble, maybe even a whole meal.
Mick

 

[mullokintyre]

Up a further 8% today.
Looks likely to be punters rotating out of the doomed SVL and into another silver play.
Can't wait till MKR starts to take off as well.
Mick

 

[mullokintyre]

SS1 released a decent MRE.
I am kicking myself i did not buy more when I posted back in June.
Mick

 

[mullokintyre]

It seems that ASF has jumped on the SS1 bandwagon.
Got this in a forum email.
Hope it pushes SS1 up further.
Got sell orders in at .70
67% for two months is fine by me.
Just wish I had bought more.
Mick

 

[mullokintyre]

SS! announced more drill results in areas outside of the recently announced MRE.
More drilling results to come before another MRE increase, then start looking at PFS etc.
Lotta things got to happen before they actually get into producing any silver.
But I bet it will take a lot less time in Nevada that it takes in Australia in general, and NSW in Particular (are you listening Minns?).
Mick

 

[mullokintyre]

Wow, the rest of my SS1 got taken out at the open at 70 cents.
Was not expecting that, when I put the speccy bid, I did not really think it would reach that level for months if not years.
Maybe when the froth has worn off I can get back in.
Already come back down to the close of 66 on Friday.
Put some sub 60 bids in just in case.
Would be nice if it got back to mid 40's.
Mick

 

[mullokintyre]

Wow, the rest of my SS1 got taken out at the open at 70 cents.
Was not expecting that, when I put the speccy bid, I did not really think it would reach that level for months if not years.
Maybe when the froth has worn off I can get back in.
Already come back down to the close of 66 on Friday.
Put some sub 60 bids in just in case.
Would be nice if it got back to mid 40's.
Mick

Just finished listening to BTL on his assessment of SS1.
Has some issues with the grades, the metallurgy, the depth of deposit and relatively high strip ratios.
Its an old deposit that has been drilled and looked at by quite a few other companies, including SSR.
Perhaps I will stay out of this one, was just plain lucky to get .70 I think.
Mick

 

[mullokintyre]

Just finished listening to BTL on his assessment of SS1.
Has some issues with the grades, the metallurgy, the depth of deposit and relatively high strip ratios.
Its an old deposit that has been drilled and looked at by quite a few other companies, including SSR.
Perhaps I will stay out of this one, was just plain lucky to get .70 I think.
Mick

The punter pushing SS1 up into near new highs thanks to the surge in Silver prices.
Still very much a quick trading stock, not interested in at these prices.
Mick

 

[mullokintyre]

Listed the IPO in April this year, and here we are already looking at a Cap Raise.
May be chance to buy in somewhat cheaper than I thought.
Mick

 

[Sean K]

Listed the IPO in April this year, and here we are already looking at a Cap Raise.
May be chance to buy in somewhat cheaper than I thought.
Mick

Taking advantage of the SP rise since listing. Opportunistically clever move while silver going.

 

[Sean K]

Well done to those who were in this a month ago. Quite a ride.

 

[Sean K]

Some profit taking the past couple of sessions. Back to .75.

Not sure if 113g/t AgEq is 'high grade'.

Lobo Tiggre reckons it's 'average'.

Silver

Open pit:

• 0–30 g/t silver is low grade
• 30–150 g/t silver is average grade
• Over 150 g/t silver is high grade

Underground:

• 0–150 g/t silver is low grade
• 150–350 g/t silver is average grade
• Over 350 g/t silver is high grade
• Silver measured in kilos per tonne is “bonanza” grade.

 

[Sean K]

Still extending the resource. pXRF are normally pretty close to accurate.

Wish I had have watched this from the start.

 

[mullokintyre]

Still extending the resource. pXRF are normally pretty close to accurate.

Wish I had have watched this from the start.

View attachment 185580

This area has been picked over by everyone and his dog, including SSR.
The depths of the intersection are nothing spectacular, and the strip ratios are bigger than i would like.
I think I will leave this one, I have already made a bit of money out of it early in the piece, think i will just be satisfied with that.
Good luck to those who want to play.
Mick