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S2R - S2 Resources

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Big delay on the Fosterville holes. They were supposed to be out this week or next. Now July. :(

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They could have done this a month ago at 11c, but now it's at 8.5c so it's going to be in the sewer when it announces a CR at a 20% discount.



CRs are killing me.

 
Sean K said:
2 million? Just keeping the lights on. Just.
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Not really....
keeping dilution to a minimum would be a better way to describe the current situation.....
They could of easily went the maximum allowable without shareholder approval but didn't...
They had 2.2 million last quarterly. Now another 2 million...
Lets not beat around the bush...
What are we in exploration stocks for = for me a major discovery like CHN....(Well it was at the time)
So Glenlogan next 1 Diamond hole straight thru a potential Cadia
Then west muchison big potential
Jilliwarra could surprise if they can get a heritage whatever signed think Big Bell and never never...
These guys are going after the elephant and well while they have been finding the sardine the elephant still is to be found..
Better haveing 2 million to keep the drill bits spinning than investing in a lifestyle company like so many others are- GL
 

I like your positive outlook, but that doesn't bring home the bacon. I knew the writing was on the wall with this when they started doing 'roadside drilling' around Fosterville. I think they teach that method of minerals exploration in Mining Geology 180. You always find an elephant by drilling from the side of a road.
 
In this end of town you are backing the people running the Co or not at your own peril IMO- I have had numerous talks with MB as a shareholder and like the way they are going about things.... Big drilling campaign happening now - and while its disappointing a cap raising at 0.072c you need $$$ to keep the drill bit spinning - I did dump 350k last Monday sending it down to 0.083c from 0.09c sensing something was not right with the Friday announcement with all the delays and the June tax loss selling ... Dilution minimal with this raise = 6% but there is a small gap at 0.072c so good chance that will be revisited as they most always do so exceppt just recently LKY our leader brd at times winner - However that will depend on the way they announce this last CR and good chance management may have even taken some of the offer up .... However these guys are doers and refrain from bragging any hype at all (which at times fustrates me) so if and when a good announcement comes out it will be good real good ... Fosterville lot of arm wrestling with locals as you know but one way or another landholders will have to grant access and they have access where they are drilling now- Jillewarra will be a drill now when Heritage access is granted (4 years in the making so far) its on trend from Spartans Never Never and BIG Bell - As said before remeber ramping up DOMinion mining (some said it was a dog with fleas) and CHN and they came good but a lot of others didnt...Me thinks this will be one of the ones that will come good and very soon...GL
 
Barnouste said:
Curiously there has been a long delay for results and a sell down along the way, then up pops a CR and now a massive sell down. Smells to me like Fosterville results are a disaster like I suggested in early May
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Back to low 6's and beyond. I thought this was a pretty good stock with MB, Creasy and its targets.
 
Despite my negativity on this one which still exists today I did buy on two occasions because of Fosterville so I've been keeping a close eye on it. The continued dumping is staggering and the only possible reason I can think of is they've got zero from their recent drilling. It's being dumped like it's a duster from a one hit wonder oil exploration stock.

Are they drilling their preferred targets or simply drilling what land access they can get?
 
Its A/C reconnaissance never intended to find a swan....
Delay far to long - normally six weeks from start to results these are double that so won't be great....IMO
Glenlogan is Diamond straight through the middle of what they hope to be a Au Cu Porphyry system due to start in days...
Dumping is a result of delays - tax loss selling and a near record low capital raise....
Not much to like about this dog stock LOL but then on the other hand they now have another 3.5 million to drill drill and drill...
Starting with Glenlogan 1 x 800metres deep diamond hole - then West Murchison and Jillewarra once permits through...
They spend there money on mostly exploration - corporate and staff costs are at the lower end of the scale not like so many other life style companies on the ASX....
Remember reading somewhere that its around 600:1 chance of finding a commercial discovery so there is always a lot of dud holes before finding the holy grail - You just have to be in a company that has the potential and expertise to find the next big thing and S2R is one of those IMO.... GL

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Taking a line through LGM and FAL today doesn't fill me with confidence that Fosterville results even in line with expectations will do anything for the share price, it'll probably drop. I'm assuming the assays will be published sometime this year.
 
SPP key points
• Share Purchase Plan applications exceeded the planned A$0.5 million limit
• All valid applications that have been received will be subject to scale back
• Funds raised to be utilised to fund ongoing exploration at the Glenlogan, Warraweena, West Murchison, Jillewarra and Fosterville projects and for other emerging opportunities
 
Yes that was the SPP for the holding/existing shareholders on the 6th June ...
they raised another 3 million with Sophs a couple weeks back....
Drilling Glenlogan now started on the 25th June they are operating on a single shift so 40 to 50mtres per day...
The target depth is 600-800 metres - they will go to 800metres IMO...
55klm from Cadia Ridgeway - its DD (Diamond core drilling)...
They then will drill Warraweena and West Murchison....
Jillewarra will be a absolute priority if they can get Heritage sign off from the tradional owners
on trend from Never Never Spartan and Big Bell...
So not a one trick pony and its not all about Fosterville....
 
It’s very reliant on Fosterville as they have 3 years of exploration to go and probably much more now that Agnico is staying put.

Glenlogan could be all over if this drill is unsuccessful and Jillewarra is in limbo.
 
This doesn't look too good to me. 48 holes at Fosterville and the best was 3m @ 0.78 g/t. Only two other holes had traces of gold, the rest was dirt.

Back to the drawing board with Glenlogan as well.


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Two months to go until the amended Heritage Protocol Agreement runs out

Glenlogan, do they walk?

Fosterville... it seems that they are having access issues. The ground they've got which surrounds the Fosterville gold mine is getting more valuable by the day but you'd never know it. What was the gold price on 5 October 21 when they were awarded block 4 ---- it was US$1759 or A$2414

I'm surprised at the lack of coverage on this one, especially since FAL has been in the news. There's nothing coming up so the share price should remain stagnant, it has to be said 'what a dud of a company' for one that has as good a ground as you'll get ---- unless ---- there's a reason why they want the share price low! and it's usually money in the pockets of anyone but retail ---- the ground is hugely valuable to Agnico, financiers would like a sniff too.
 
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