SIH - Sihayo Gold

Sihayo Gold Limited (SIH) was previously known as Oropa Limited (ORP).

For previous discussion of this company please see the ORP thread, which can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=1916

Code Last % Chg Bid Offer Open High Low Vol
SIH
08 Sep 2010 0.175 2.94% 0.175 0.180 0.170 0.180 0.170 1,546,300 07 Sep 2010 0.170 9.68% 0.175 0.160 4,995,622
06 Sep 2010 0.155 0% 0.155 0.145 1,989,673
03 Sep 2010 0.155 -3.12% 0.160 0.150 955,387
02 Sep 2010 0.160 0% 0.160 0.155 165,000
01 Sep 2010 0.160 6.67% 0.160 0.150 642,500

Is any one following this scrip ?
The volume is substantially up in Sept and so is price, directors buying.
Is it being artificially jacked up or the scrip has some real value

Any feedback will be appreciated

Should be possible to get a 6-15% ride on this, from current 16c level to 17-18.5c without too much bother.

Uncomplicated chart. Two parallel lines connecting nicely back to 2009, and one overhead. Cup with handle.

Ha, we see different things....I see an area that will bounce the stock around potentially!



You can see the levels I am looking at, it does look like offering something though, that 15c level may hold.
Too much downside risk in my mind with 2 close levels and not much below...

see the post I just made on feedback thread!

Gringotts Bank said:

Should be possible to get a 6-15% ride on this, from current 16c level to 17-18.5c without too much bother.

Click to expand...

Now 18.5. Slightly overbought now IMO. Looking for re-entry. Gold was due for a bounce.

Latest news on SIH

ASX Code SIH
Shares on issue 703.7M
Options unlisted 20.8M
Cash A$2.5M
Market Capitalization A$112M
52 week price (low/high) A$0.09 - $0.27
Top 20 Shareholders 77%

SIHAYO ‐ SAMBUNG JORC COMPLIANT RESOURCE UPDATE June 12 2012
The Sihayo‐Sambung JORC Compliant Resource of 17.0 Mt at 2.7 g/t Au for 1.5 Moz contained gold lies on about 2.7km of a 5.5km long trend of gold mineralisation that has been defined by surface exploration work.


KEY OBJECTIVES FOR 2012
* Complete Sambung Resource Infill Drilling Program - Completed late March
* Upgrade JORC Resource Report for Sambung Resource - Completed May
* Finalise Definitive Feasibility Study (“DFS”) - Due by end of June - not reported yet
* Resource extension drilling at Sihayo - Sambung Resource
* Exploration and definition drilling at Hutabargot Julu prospect
 Sihayo - Sambung and Hutabargot drilling ongoing thru 2012
* Obtain Indonesian Permitting to begin construction
 AMDAL Permit – Environmental and Social Impact Study
 Government of Indonesia Feasibility Study
 Forestry “Borrow to Use” Permit
 Target end of Q4 2012 or Q1 2013

DFS RESULTS TO DATE (March)
* Capital cost of US$121 million (includes 9.9MW power station)
 Plus Pre-production mining US$10.5 million
* 1.5 mtpa standard CIL processing plant
* Estimated mine life minimum 7 years
* LOM estimates:
 Average production 90koz per annum
 Site cash operating costs (incl royalties) US$578/oz
 Average strip ratio of 3.8:1 (after pre-strip)
 Process recoveries 73%
* Ongoing optimisation site cash costs
* Target completion June 2012

Suprisingly illiquid for a company with this many shares on issue, but with top 20 holding 77% many of them in lock down. Buy and sell side virtually non existent, but one side has to loosen eventually, will it be buyers or sellers? Page 19 on the March presentation is worth looking at, shows future potential for SIH. This has alot of shares on issue, but some good potential. Look for the DFS out soon. Worth watching.


Director and substantial holder support recently.
http://www.asx.com.au/asxpdf/20120606/pdf/426ppvdk5nkrj0.pdf
http://www.asx.com.au/asxpdf/20120529/pdf/426jytrtrkjhjp.pdf
http://www.asx.com.au/asxpdf/20120524/pdf/426ggmklx9wvx0.pdf
http://www.asx.com.au/asxpdf/20120503/pdf/42621gkh63sy9g.pdf

Trouble's a brewin!
http://www.asx.com.au/asxpdf/20120709/pdf/4279l1hnh2wvft.pdf

On Saturday 7th July, a group of local demonstrators, consisting mostly of local illegal artisanal miners, arrived and disrupted the Company’s Sambung exploration camp.
Company personnel are all accounted for, are safe and not injured. Despite the presence of local police, and Sihayo’s own security team, the demonstrators have caused significant damage to the Company’s exploration camp.
As of Sunday 8th July, local police personnel are securing the exploration camp and all demonstrators have left the camp area. These are criminal acts against the Company and the Company shall work closely with local authorities to bring those responsible for these acts to justice. Currently, seven leaders of the illegal miners have been arrested by the police and there is an expectation that more arrests shall follow.

The Company believes this latest incident was provoked by those directly involved in the illegal mining activities and took place just weeks before the local Government and Police had planned to block the access of illegal miners to the COW area.

Apart from the disturbance looks interesting Springhill. They've run out of cash by the look though.

kennas said:

Apart from the disturbance looks interesting Springhill. They've run out of cash by the look though.

Click to expand...

I pulled this from the March quarterly.
● Company ended the March Quarter with A$2.5m in cash and is debt free● After the quarter end, the Company completed equity capital raising with firm commitments for 86.7 million shares at $0.15c per share to raise A$13 million before costs pursuant to the issue announced on 26th April 2012

and then
http://www.asx.com.au/asxpdf/20120503/pdf/426219bcp9z5ry.pdf
http://www.asx.com.au/asxpdf/20120524/pdf/426ggf5363rwzv.pdf

Not a great year for these guys. Still no quarterly report but they 'managed' to secure 500,000 from a main shareholder last week (although no details in the announcement were given) Suspect they must be near broke and none of the shareholders (there are 5 which have ~60% of the company) can agree on financing?

They have a 2 g/t ore reserve (not resource, but an actual reserve) for 800+koz. That's respectable for a market cap of <30 million. There's bugger all debt, a feasibility from 2020, showing a sub $1000/oz ASIC The recovery is pretty poor at around 70% and the strip ratio is acceptable at around 4.5. Thought there was an updated feasibility to come out before xmas, but so far zip. Being in Sumatra can't be good either.

On August 14th, 2024, Sihayo Gold Limited (SIH) was removed from the ASX's Official List in accordance with Listing Rule 17.14, following compulsory acquisition of its remaining securities by Provident Aurum Pte. Ltd.