Just to follow up on that with an innocent hand calculator (solar powered, to reinforce my argument). Now, as per Kutie's link, we are down from 950 to 850 million on the A/S, which means a slimmer share population, reduced by 10.5%. So each share is worth a shade over 10% more, ipso facto, as of today.
Calculating now on the basis of the middle price of 1.25 cents at Friday's close, times the 850 mln, gives a market cap of $10.6 million. That figure looks suspect, however hard you stare at it, because it's so uncannily small. Just considering what SRSR has in hand in properties in Canada (land + ore deposits) drives the thought that the market has got its valuation wrong. Then the factor that has to be classified as indispensable in making this company a foremost junior in mining precious, rare and base metals is quality of management, along with consultancy. There we are in the senior league, as I see it.
Perhaps I should keep quiet (only trusted friends, or 'the last of the just' should come in on this huddle), but the longer I look at the figures, the harder I must blink. For starters, to get into the add-ons, who knows what may come out of the 2008 drilling program, which will be massive, last for months, involve the choicest areas in Canada, and lead to the release of plenty of new data throughout the year? Also, the potential of the Anita mine in Peru shouldn't be discarded yet. And just suppose new areas of land have been acquired or are under review?
All good investors know they must walk before they run, but it's hard not to yield something to the thought that, with news and updates due early in the new year –– the pressure on that self-imposed silence is building –– we will all, psychologically, be stretching forward on the starting blocks from Wednesday on.
This comes at a time when gold and silver prices are nor far from their historic highs, and the SRSR share price looks close to another breakout.
JMHO (allowing myself a fun post for the New Year).
alj
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