coup du grace
19 Feb 2016
Re: AGM Feedback 2 of 2 Phew, many thanks for taking the trouble, The Priest. I'll crack a bottle tonight to celebrate my relief as genuinely had written off (KISS OF DEATH) my investment.CDG
The Priest
19 Feb 2016
AGM Feedback 2 of 2 Most of us are into small exploration companies because they provide a cheap means of accessing a potentially high return at some point in the future. As well as having to find a worthwhile prospect, the explorer needs to fund itself for long enough to be able to define the resource, do the scoping studies, the feasibility studies and then find a partner to bring the resource to production. In my last post we looked at how SRES is attempting to fund itself without resorting to further diluting its shareholders and I would urge readers to visit the company website at [link] where further details on the projects can be found. The presentation delivered at the AGM testerday is up there in the Investor and Media section and is extremely informative.So what of the upside then?The takeaway from the AGM is that whilst the company is evaluating opportunities relating to diamonds and gold in Australia and gold and copper in Nevada, the project that is giving the directors greatest cause for optimism is the Bay State Silver project. Indeed, this is the project where the most attention is focused. Permits have been granted for 17 drill samples which form the basis for a JORC compliant mineral resource estimate which will significantly raise the profile of the company. Early sampling has returned bonanza grades of silver of up to 4kg/tonne and already 3 of the 17 holes have been drilled with high grades being discovered confirming the potential of the vein. The writer cannot do the project justice instead the reader is directed to the AGM presentation, slides 14 to 22 and page 6 of the annual report.This project alone is the reason I invested in SRES. There are other projects with potential, particularly the Aussie diamond prospects but the market appears to have discounted these to zero and in its wisdom has allowed us a discounted entry into a low-risk, high potential silver resource. Expect to see further positive news flow as the next phases of drilling confirm that "there's silver in them thar hills!"
The Priest
19 Feb 2016
AGM Feedback 1 of 2 Why would anyone want to buy into a small cap exploration stock that seems to lose value progressively as the weeks and months pass?That's the question I asked myself as I set of for the Sunrise Resources Plc AGM yesterday morning. For the record I already have a reasonable holding, approximately 0.5% of the shares in issue so I've already been through the thought process.When you buy into an exploration stock, you're effectively buying into the management and their ability to interpret various pieces of information regarding what's in the ground, whether it can be extracted cost-effectively and whether it can be sold for a profit. Fortunately SRES has Patrick Cheetham at the helm and he's got a good track record at this sort of thing.The meeting began with the formal business of re-appointing the directors, the auditors and the special resolutions - the last of which granted the company the ability to issue extra shares up to a value of £750,000 to fund continuing operations. This is an important measure, in the absence of anything to sell, exploration companies must tap the markets for funding. Largely because of the presence of our Chairman mentioned above SRES has been able to do this so the lights have remained on. It is important to stress that SRES (and their major shareholder Tertiary Minerals) are low cost operations and critically the Directors take their fees in shares so their interests align nicely with those of the shareholders - nobody is living high on shareholders' funds which shows integrity. Even though costs are low, they still exist and there's only so many times you can go back to the market based on your reputation alone so it was exciting to learn in December 2015 of the royalty agreement signed with EP Minerals LLC - the details are in the annual report on pages 5 and 6. This agreement provides cash flow to SRES via its SR Minerals Inc subsidiary in Nevada through royalty payments from EP Minerals, themselves the largest producer of diatomite related products in North America and a leading global player. Their website can be found at [link] particular interest is the fact that the type of diatomite that SRES has on it's claims is at the high value added end of the diatomite spectrum meaning greater realised royalties as the are calculated on a revenue basis subject to minimum payments to SRES. Furthermore, the type of diatomite in the SRES claims differs from that in the other deposits that EP Minerals has so they can effectively enter new markets without the threat of cannibalising their own markets. In short, this discovery and agreement in itself provide the potential for sufficient revenue to reduce or even eliminate the need for SRES to tap the markets for further funding which means less and hopefully zero dilution for the existing shareholders. Speaking personally, I added to my position when This news was released (obviously I got killed on the spread but that's the nature of these small caps with their low liquidity).I bought again earlier this year after the release of the news regarding the Pozz Ash project. This is another Nevada based industrial minerals project which provides a cheaper, greener alternative to in the manufacture of cement. Again, it's not glamorous but it is easy to extract and the deposits SRES have are very cheap to process as they are already in powder form as unlike competitive sources in the region which are rocky and therefore require grinding. At the time of writing the material is being tested in association with a cement manufacturer to confirms its suitability for commercial use. Whilst this project is at an earlier stage than the diatomite project, it offers another opportunity for cash flow to fund the more speculative exploration projects that offer the real upside, which I will deal with in the next post.Regards,
Ekati
14 Feb 2016
Re: Bay State Silver Project No!I just wait till the end. 
Ailein
13 Feb 2016
Re: Bay State Silver Project Was that you who sold 1.2 million recently ?I'm still holding and resisting buying more at the current price. Heart says buy but Head says "No way anything at this price is on the way to going bottoms up " !!Alan
Ekati
05 Jan 2016
Bay State Silver Project If they can do a deal with the silver project as they did for the diatomite ( and probably for more $$ ) then they will be more or less self-sufficient for further exploration expenditure. Less dilution anyway.jimhoEkati
Ailein
31 Dec 2015
New Year So much for 2015. I'm going to my neighbour for dinner and a good old Scottish New Year !!SlainteAilein
Ailein
31 Dec 2015
Re: Record low. This is what I find difficult to understand. The Directors hold massive numbers of shares so you would think they must be pretty sure of the eventual outcome.The Market Makers appear to be less sanguine !!Alan
Ekati
30 Dec 2015
Re: Record low. The boss bought 3mio shares. Good so. 2016 year of some profits?
MISOLDB
30 Dec 2015
Re: Record low. Can you come on and post comments like that every day please.......50% up.........lol
Ailein
29 Dec 2015
Record low. Is this bloody thing about to go belly up ?Anyone spoken to the company recently ?Happy New YearAlan
MISOLDB
24 Dec 2015
MERRY XMAS & ........... a prosperous new year to you all.........and as they say in the song "things can only get better " Cheers.......Ben
Ekati
22 Dec 2015
Re: wI'll the rise continue what rise? Must admit the company is doing well taking in account the evil resources and investment climate.I swapped months ago to Pangolin diamonds but so far I'm not better off.Bought back today here ( after saying numerous times never, never, really never again ) because I kept looking at SRES all the time. And what I saw to date is not so bad.2mio shares back on the account. For me it's for the diamonds in first place but the other projects are not so bad also imo.Happy 2016 and let the 'sun' rise next year!
MISOLDB
14 Nov 2015
Re: Bad Luck Ha Ha.......that's the prob when your in transport, every thing has brakes, not breaks.....lol
ukm
12 Nov 2015
wI'll the rise continue Just wondering when this will end....few more days like this and I might break even.
