S2R - S2 Resources

[Kyngdom]

And the morning dump continues 2.5 million just went thru down to 0.06c an all time ever since listing low...
Hopefully this is it and that was the final dump....
You can buy this thing for less than a third of what Agnico committed in exploration for blocks 1,2 and 3 being 90 million..

 

[Barnouste]

There was the customary 500,000 that then set off a touch over 2mil so there may be more 500,000's in the pipeline. You'd have to be wondering about block 4, the Allan govt, indigenous agreement, farmers not happy... something big and unforeseen that puts a spanner in the works. This has been sold into for a long, long time and yet there's no anns or have I missed something?

 

[Kyngdom]

There was the customary 500,000 that then set off a touch over 2mil so there may be more 500,000's in the pipeline. You'd have to be wondering about block 4, the Allan govt, indigenous agreement, farmers not happy... something big and unforeseen that puts a spanner in the works.

I wouldn't read to much into it (block 4) - while they may be having trouble around Goorong South they have land access where they are drilling now.... Around Mayreef.

Lot of iron's in the fire also - any of which can turn this around quickly...


DRILLING OF HIGH IMPACT TARGETS STARTING ON MULTIPLE FRONTS

Fosterville gold project:• First drilling of new dipole dipole induced polarisation (DDIP) anomaliesstarting in late March• Initial aircore to be followed by RC or diamond drilling as appropriate
Glenlogan copper-gold porphyry target:• Dipole-dipole induced polarisation (DDIP) survey starting next week to finesse tensor array induced polarisation (TAIP) and magnetotelluric (MT) anomaliesand assist positioning of diamond drillhole• Diamond drilling starting in late April/May, after Fosterville aircore (subject toresults of DDIP survey)
West Murchison polymetallic soil anomalies:• Heritage survey booked for early April over key Ni-Cu-Pt-Pd-Au soil anomalies• RC drilling starting in May/June after Glenlogan diamond drilling (subject toresults of heritage survey)
Warraweena project:• Diamond drilling of selected concealed geophysical targets to start in June/Julyafter West Murchison RC

Also 5000m A/C Completed recently with assay out in the next week or 2....

DB or for that matter any bottoming chart pattern are ugly things and usually are tested and tested before a substantial bounce off those lows as long as 0.061c holds on a closing basis then its potentially still in play - Gold holding now US $3000 OR OZ $4700 sooner or later money should start to flow into the explorers...

DJI has put in a solid Double top with last night retesting the neckline so a lot more downside to come - Hopefully history repeats like back in 2007 with the GFC where the mkt halved and Gold and all Au stocks went to the moon..GL

 

[finicky]

back in 2007 with the GFC where the mkt halved and Gold and all Au stocks went to the moon.

Really? Like Sipa Resources (SRI) that I was in and that plunged from a 2.25 high in 2007 to 0.25 in 2008 (has been share consolidated).
Others went totally broke that I was in during the gfc period. Sure, if you hung on there was a later strong rally in some, including SRI, but you would have needed to hold your nerve and conviction through a gruelling paper loss to benefit from the subsequent rally.
Gold itself went through a couple of dips in 2008, one being a significant drop from $1500 aud to $1200 aud and didn't recover its previous high for 18 months. Might not look big on a long term chart but when lived through it filled you with doubt. During that time you needed a lot of conviction to hold on. From that experience and just the fact that all assets are floating on leverage where calls will have to be met I'm expecting the crash to hit everything and not least spec explorers burning cash without income.

SRI Monthly

 

[Barnouste]

There's big money (in S2 trading terms) working this down and we might even see 5's this week

That sell for 238,095 is a familiar number and will sit there until taken out, it's not T2 that's going to have to sell tomorrow. Who's doing this, and why are the questions?

 

[Sean K]

I wouldn't read to much into it (block 4) - while they may be having trouble around Goorong South they have land access where they are drilling now.... Around Mayreef.

Lot of iron's in the fire also - any of which can turn this around quickly...


DRILLING OF HIGH IMPACT TARGETS STARTING ON MULTIPLE FRONTS

Fosterville gold project:• First drilling of new dipole dipole induced polarisation (DDIP) anomaliesstarting in late March• Initial aircore to be followed by RC or diamond drilling as appropriate
Glenlogan copper-gold porphyry target:• Dipole-dipole induced polarisation (DDIP) survey starting next week to finesse tensor array induced polarisation (TAIP) and magnetotelluric (MT) anomaliesand assist positioning of diamond drillhole• Diamond drilling starting in late April/May, after Fosterville aircore (subject toresults of DDIP survey)
West Murchison polymetallic soil anomalies:• Heritage survey booked for early April over key Ni-Cu-Pt-Pd-Au soil anomalies• RC drilling starting in May/June after Glenlogan diamond drilling (subject toresults of heritage survey)
Warraweena project:• Diamond drilling of selected concealed geophysical targets to start in June/Julyafter West Murchison RC

Also 5000m A/C Completed recently with assay out in the next week or 2....

DB or for that matter any bottoming chart pattern are ugly things and usually are tested and tested before a substantial bounce off those lows as long as 0.061c holds on a closing basis then its potentially still in play - Gold holding now US $3000 OR OZ $4700 sooner or later money should start to flow into the explorers...

DJI has put in a solid Double top with last night retesting the neckline so a lot more downside to come - Hopefully history repeats like back in 2007 with the GFC where the mkt halved and Gold and all Au stocks went to the moon..GL

View attachment 195592

IMO, the only reason to buy this is Fosterville and management's previous success. The rest is throwing darts blindfolded behind your back after a case of VB. Might hit something, maybe not.

Even Fosterville is rolling the dice. Kirkland had plenty of time to do exploration around Fosterville to find other birds but allowed their exploration licence to expire. Maybe there was a good reason for why they let it expire, or it was just a technicality. I suspect S2R haven't been able to get permission to drill where they actually want to due to the landowners and/or Vic Gov red/green tape. It could be why Kirkland didn't, or couldn't, do any more exploration, or gave up.

Still holding this in the smelly sock draw in case they roll the dice and hit a bullseye at Fosterville. My 2C

 

[Kyngdom]

Really? Like Sipa Resources (SRI) that I was in and that plunged from a 2.25 high in 2007 to 0.25 in 2008 (has been share consolidated).
Others went totally broke that I was in during the gfc period. Sure, if you hung on there was a later strong rally in some, including SRI, but you would have needed to hold your nerve and conviction through a gruelling paper loss to benefit from the subsequent rally.
Gold itself went through a couple of dips in 2008, one being a significant drop from $1500 aud to $1200 aud and didn't recover its previous high for 18 months. Might not look big on a long term chart but when lived through it filled you with doubt. During that time you needed a lot of conviction to hold on. From that experience and just the fact that all assets are floating on leverage where calls will have to be met I'm expecting the crash to hit everything and not least spec explorers burning cash without income.

SRI Monthly
View attachment 195608

View attachment 195607

IMO, the only reason to buy this is Fosterville and management's previous success. The rest is throwing darts blindfolded behind your back after a case of VB. Might hit something, maybe not.

Even Fosterville is rolling the dice. Kirkland had plenty of time to do exploration around Fosterville to find other birds but allowed their exploration licence to expire. Maybe there was a good reason for why they let it expire, or it was just a technicality. I suspect S2R haven't been able to get permission to drill where they actually want to due to the landowners and/or Vic Gov red/green tape. It could be why Kirkland didn't, or couldn't, do any more exploration, or gave up.

Still holding this in the smelly sock draw in case they roll the dice and hit a bullseye at Fosterville. My 2C

Maybe there was a good reason for why they let it expire -
They didn't let it expire they had to relinquish it - they had 5 years the same as S2R has now.
Negativity in this sector is common until of course when a discovery is made and everyone dives on board...

IMO, the only reason to buy this is Fosterville and management's previous success. The rest is throwing darts blindfolded behind your back after a case of VB. Might hit something, maybe not.

Even Fosterville is rolling the dice. Kirkland had plenty of time to do exploration around Fosterville to find other birds but allowed their exploration licence to expire. Maybe there was a good reason for why they let it expire, or it was just a technicality. I suspect S2R haven't been able to get permission to drill where they actually want to due to the landowners and/or Vic Gov red/green tape. It could be why Kirkland didn't, or couldn't, do any more exploration, or gave up.

Still holding this in the smelly sock draw in case they roll the dice and hit a bullseye at Fosterville. My 2C

Maybe there was a good reason for why they let it expire -
They didn't let it expire they had to relinquish it - they had 5 years the same as S2R has now.
Negativity in this sector is understandably common until of course - when a discovery is made and everyone dives on board...
Hard to defend a stock when its trading at all time lows but been there and done it before with CHN DEV and DOM so no different now.

 

[Sean K]

Negativity in this sector is understandably common until of course - when a discovery is made and everyone dives on board...
Hard to defend a stock when its trading at all time lows but been there and done it before with CHN DEV and DOM so no different now.

Yes, been there and done that too.

Not negativity, but pragmatism. Gotta call it for how it is.

Hopefully they hit a Swan with their dart throwing this decade.

 

[Kyngdom]

Really? Like Sipa Resources (SRI) that I was in and that plunged from a 2.25 high in 2007 to 0.25 in 2008 (has been share consolidated).
Others went totally broke that I was in during the gfc period. Sure, if you hung on there was a later strong rally in some, including SRI, but you would have needed to hold your nerve and conviction through a gruelling paper loss to benefit from the subsequent rally.
Gold itself went through a couple of dips in 2008, one being a significant drop from $1500 aud to $1200 aud and didn't recover its previous high for 18 months. Might not look big on a long term chart but when lived through it filled you with doubt. During that time you needed a lot of conviction to hold on. From that experience and just the fact that all assets are floating on leverage where calls will have to be met I'm expecting the crash to hit everything and not least spec explorers burning cash without income.

SRI Monthly
View attachment 195608

View attachment 195607

Most held there ground during the GFC sell off that lasted from mid 2007 to early 2009....

Because the Gold price while still volatile because of the extreme market swings was in a bull market not ever seen before....After breaking above the $400 mark in 2005 and coming off all time lows in 2001 of $251.00 USD.....

And it was at the time (of the GFC) the Ultimate safe haven before Bitcoin....
There were extreme highs and lows that you had to trade to take advantage of but still continued up peaking in 2011 at just above $1900 USD.

I had a major position in a company called Dominion mining at that time it was around a 100k producer with big grades from their Challenger mine entering at 0.45c when Gold was unloved in 2001 and selling some at its peak of $6.79 (long story) In 2007 it
Then retraced to $1.99 and peaked again at $5.53 (exited my position completely here) in 2009 back down to $1.99 where it seemed to always find support and back up to the $2's where it got taken out by KCN so made a lot from it..

When KCN took it out in 2011 KCN was trading at over $12 valuing it at over 1 Billion at the time. KCN Chart below along with Gold chart.

I started charting after DOM 1st peak mainly because I needed to know when to sell it opened up a trove of insights into highs and lows that were beneficial during those volatile times that of course all need to be taken with a grain of salt but to see things such as shooting stars on the daily or double tops such as the DJI chart posted above and to see the retests etc does help a lot in making trading decisions...

 

[Barnouste]

It took the government 3 years (?) to award block 4 then a couple of years to get the mining licence and it continually gets sold down with no end in sight. What was the recent ann about S2 Trading Policy all about, some insider trading suspected of happening? Wayne Bennett was recently interviewed and said you've got to know when to walk away.

This is all while gold is at all time highs

 

[Kyngdom]

IMO, the only reason to buy this is Fosterville and management's previous success. The rest is throwing darts blindfolded behind your back after a case of VB. Might hit something, maybe not.

Even Fosterville is rolling the dice. Kirkland had plenty of time to do exploration around Fosterville to find other birds but allowed their exploration licence to expire. Maybe there was a good reason for why they let it expire, or it was just a technicality. I suspect S2R haven't been able to get permission to drill where they actually want to due to the landowners and/or Vic Gov red/green tape. It could be why Kirkland didn't, or couldn't, do any more exploration, or gave up.

Still holding this in the smelly sock draw in case they roll the dice and hit a bullseye at Fosterville. My 2C

Good listen if you have the time and have enough invested in it to want to - explains everything...
Another big sell down today so the sock draw could be appropriate draw to put it in but not the smelly one....

 

[Sean K]

Good listen if you have the time and have enough invested in it to want to - explains everything...
Another big sell down today so the sock draw could be appropriate draw to put it in but not the smelly one....

This is a brilliant interview, if you have the time and have enough invested.

Might even be market sensitive.

 

[Dona Ferentes]

Haven't seen the press.

Finicky and I seem to be the only ones on the planet to think this could go from a $60m to a $1b company on a EL or a drill hole.

I watched the BBQ roast that @Kyngdom loaded.

All 7 prospects sound interesting,

 

[Kyngdom]

Block 4 is not all about Goornong South they started there because that's where Agnico left off before they lost the right to explore on it.
They have just recently signed land access agreements at the Rasmussen’s area near Mayreef....

Two of the DDIP chargeability anomalies are in the Rasmussen’s area where the Company has a drilling access agreement in place. These will be drilled with a combination of air core, reverse circulation (RC)and diamond drilling. Plans are being finalised to mobilise a rig to site in three to four weeks, once all required approvals have been received.

There sale of the Finland assetts to Valkea are already in the money up 1.4 million CAD....
Valkea resources has only 32 million SOI and traded up from a extended consolidation period of around 0.40c to 0.50c CAD last Thursday increasing the mkt cap from 12.58 million CAD to around 16 million CAD.. The deal was completed at an almost all time low and Valkea has traded in the high $2.00's back in 2022.....So a lot of upside in this investment where they hold 44%....

Look I could go on and on but at the end of the day we are playing the high risk spec end of the market by investing in shares like S2R bit like CHN before they went on to discover Julimar but that still has many ??? -

DB I highlighted before was in the 2% range at 0.62c but the price has since come back and tested strongly the 0.061c previous all time low and IMO the bottom is in so GL trying to get these below 0.061c....

View attachment 194941

IMO the bottom is in so GL trying to get these below 0.061c....
Picture paints a 1000 words....

 

[Kyngdom]

IMO the bottom is in so GL trying to get these below 0.061c....
Picture paints a 1000 words....
View attachment 196288

Solid rise today closing on the daily high and confirming the DB is in play technically = great result so more upside next week and should hit the target price of 0.105c next week and close the gap down left behind from the 1st Glenlogan announcement on the 03rd Sept 2024 also at 0.105c....

Next week short term potential catalyst event for major rerate are....
1. Assay due Early April = next week from the 5000m A/C drilling started 10th Feb 25 at Yeungroon...
2. Commencement of drilling announcement due next week at Fosterville - Rasmussen’s area where the Company has a drilling
access agreement in place. Targeting two DDIP chargeability anomalies...

Chart update....

 

[Barnouste]

The Vic gov is taking it's time on Agnico decision

Let's hope they're not waiting for elections next year

 

[Sean K]

The Vic gov is taking it's time on Agnico decision

Let's hope they're not waiting for elections next year

Is that for just an extension to Fosterville? Not sure why it would be an issue, it's underground. What's it going to disturb, the worms?

Looks like sellers might have cleared the decks at S2R. Maybe.

This might only last until they pull up more dusters in the latest drilling.

Fingers crossed they hit something.

 

[Sean K]

Perhaps it was capitulation about 10-12 days ago. It's only gone up since then, on volume. Not counting swans, this has done nothing but disappoint. Would have been OK if you had the kahunas to buy at 6c.

 

[Kyngdom]

Certainly was.... capitulation about 10-12 days ago
Was trying to tell everyone but no one was listening LOL
Potential DB cemented into S2R share price.... A solid break with volume of 0.083c will confirm DB with a target price of 0.105c bit to go yet before that is in play though... GL
AND
DB I highlighted before was in the 2% range at 0.62c but the price has since come back and tested strongly the 0.061c previous all time low and IMO the bottom is in so GL trying to get these below 0.061c....

 

[Kyngdom]

I wouldn't read to much into it (block 4) - while they may be having trouble around Goorong South they have land access where they are drilling now.... Around Mayreef.

Lot of iron's in the fire also - any of which can turn this around quickly...


DRILLING OF HIGH IMPACT TARGETS STARTING ON MULTIPLE FRONTS

Fosterville gold project:• First drilling of new dipole dipole induced polarisation (DDIP) anomaliesstarting in late March• Initial aircore to be followed by RC or diamond drilling as appropriate
Glenlogan copper-gold porphyry target:• Dipole-dipole induced polarisation (DDIP) survey starting next week to finesse tensor array induced polarisation (TAIP) and magnetotelluric (MT) anomaliesand assist positioning of diamond drillhole• Diamond drilling starting in late April/May, after Fosterville aircore (subject toresults of DDIP survey)
West Murchison polymetallic soil anomalies:• Heritage survey booked for early April over key Ni-Cu-Pt-Pd-Au soil anomalies• RC drilling starting in May/June after Glenlogan diamond drilling (subject toresults of heritage survey)
Warraweena project:• Diamond drilling of selected concealed geophysical targets to start in June/Julyafter West Murchison RC

Also 5000m A/C Completed recently with assay out in the next week or 2....

DB or for that matter any bottoming chart pattern are ugly things and usually are tested and tested before a substantial bounce off those lows as long as 0.061c holds on a closing basis then its potentially still in play - Gold holding now US $3000 OR OZ $4700 sooner or later money should start to flow into the explorers...

DJI has put in a solid Double top with last night retesting the neckline so a lot more downside to come - Hopefully history repeats like back in 2007 with the GFC where the mkt halved and Gold and all Au stocks went to the moon..GL

View attachment 195592

Watch this chart play out with a bit of help from tonight Trump Tarrifs - DOW futures currently down -1023...
Tried to negate the pattern (with multiple retests) but ultimately as should be proven tonight failed....
With some luck Au will spike up and create a cushion for the Au stocks maybe or maybe not....