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@Goldfinger Bigger bottoming pattern targets C$.65 short term: http://cdn.ceo.ca/1ca3v3m-SSP.V.png+ $SSP
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@Wannabeinvestor @Goldfinger, yeah, nice set of intercepts from Sona Hill. Really high grades for an potential open-pit operation. Let's see once what the resource estimate for Sona will be, but is sure looks like a HG starter pit at Sona is becoming a reality. $SSP, $SBB and $VIT are my optionality plays in the $gold space.
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@Poker Very nice results $ssp
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@Goldfinger Sandspring Shares Surge on Sona Hill/Wynamu Assay Results: http://energyandgold.com/2017/02/13/sandspring-shares-surge-on-sona-hillwynamu-assay-results/ $SSP
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@bulava Agree on the price target - if gold can do $1300 and SSP has a nice estimate, then $1+ is easy IMO
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@Wannabeinvestor Some of these optionality plays actually work at current POG, surely $VIT is no longer a typical optionality play -- they are developing it. Would not surprise me if $SSP went the same way because Sona likely will improve the economics meaningfully.
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@Finanzr I think Katusa said something along those lines: "What is the value of an optionality that never gets built? Nil!" I am no geologist or engineer, but if Sona Hill sketches the pathway to mine at current gold prices, I expect a significant re-rating (probably to early to tell). $SSP #optionality
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@MiningBookGuy @Wannabeinvestor @Finanzr - good thoughts here! wish i bought a bit more $SSP, but i really like this news for the reasons you're describing. i am pretty sure i said something comparing $SSP and $VIT in a skype session i had with @thenextbigrush and @Jayfire, but i don't think that section was published. in any case, i do like comparing $VIT to $SSP, because i think $SSP was a far better value at the end of last year if you were willing to take the additional #geopolitical risk, and believe that they could find these high-grade satellite deposits. not to take away from $VIT potential (which is perhaps the better #takeover candidate in the short-term). but it made for an interesting thought exercise for me, and also how both of them are not just #optionality, but 'near-optionality' plays (as @bulava is saying), likely only requiring gold to go up ~$100-$200 for massive changes in the economics. that's my favorite type of #optionality right now!
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@Finanzr Yea - in retrospect I also wish I bought more of $SSP. And several other stocks. But I like to ease into positions - which might not be a good strategy in quickly moving bull-market. But I will not change that habit :)
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@Rod $SSP What a day this optionality play had today. I have held this company since November, and the reason I bought....they have 10 MM ounces of gold. Silver Wheaton involvement and last but not least Frank Giustra has a large stake. Today was a huge move, but in my honest opinion it is very cheap. The fact that they have 10 MM ounces of gold is amazing in its own right. The prospectivity of there land package is whats going to drive it much higher. Now that they are developing these satellite deposits with much higher grades its a game changer. Imagine a cumulative grade of 1.5 PPM AU @ 13 MM OZ.
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wannabeinvestor It's very cheap compared to other advanced exploration/ early development plays. People see it as an optionality play. Also some consider it an exotic jurisdiction. Guyana is English-speaking, common law country... $VIT was my eye-opener, once they put out the FS which showed reasonable economics at 1250 POG. The economics were boosted by the small starter deposit... very similar storyline here. The difference is $SSP is not permitted yet, but they have 4x the resources $VIT has... in fact on in-situ basis I cannot think of anything cheaper than $SSP.
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@Pierre $ssp !!! Such a good news today .. Best optionnal play out there
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@ggallant $ssp been on board since .19, I'm dumb as a rock, but tell me Giustra is involved and I'm in!! Bet on the jockey!! Friedland is gonna fund my retirement!
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@ggallant and no, Friedland is not in SSP, was thinking of what he's given me in IVN, CDB, GXU and KZD.... lol, I know nothing, but I'll ride on winnners coat-tails every day of the week
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@DJS Just compare $SSP's MC to that of $VIT, $MAX and $SBB. Way too much of a discount being applied here for Guyana and other perceived risks. $SBB will take off when it gets its long overdue permit, and any of these companies could be taken over for synergistic or other reasons, but otherwise $SSP will outperform these and most of the other optionality plays in the coming months.
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@Goldrush $ssp trying to firm back up
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Anonymous $SSP has an assload of warrants in the money. If not for those, best optionality play out there
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@FundamentalAnalysis Just to add $SBB has that fat royalty on Hackett river people tend not to talk about, that's what seperates it from $VIT, $MAX and $SSP. Some serious value in that royalty.
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wannabeinvestor Not sure I agree @Jayfire. as you know the Barrick's and Goldcorp's of this world are not always the best stewards of capital. They have made disastrous investments in the past. Many seniors fund promising exploration projects and fail. NRN comes to mind, but also the copper play in Canada BHP backed and recently terminated. Guyana is highly prospective, agree. i actually hold both $GUY and $SSP (that's one of the largest junior gold holdings I have) and I used to own $AQI.AX. Dropped it when the disappointing results came in a few months back. It's a lottery. Also got out of $LAT.
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@MiningBookGuy @wannabeinvestor @Jayfire @FundamentalAnalysis - first of all, see the original NR detailing the acquisition of these properties by $AQI.ax in 2012: http://cdn.ceo.ca/1ca9lpo-2012_12_AQI__getting_Guyana_Projects.pdf (*note - let me know if above uploaded link doesn't work) #Guyana was NOT at all a hot place to be in 2012. It still isn't...but it's definitely getting there with stories like $GUY and $SSP. I absolutely think this is a case of 'perfect timing' by $AQI.AX to snatch up these properties on the cheap (keep in mind they also got Tassawini which is more advanced but never discussed, likely because it's not of interest to $ABX). Not only was $NEM pulling out from various global exploration stories. But I believe the junior that $NEM was doing a JV with (Takara Resources) was really struggling at the time. It was just a matter of $AQI.AX being opportunistic. @wannabeinvestor - I would not at all undervalue $ABX earning-into Arakaka. Despite the disappointing 1st year results, they are going at in the 2nd year, and very possible we see results that are on par or better than some of the excellent historical results listed in this 2012 NR. $ABX has very few JVs...they are only looking for 'elephants', and no reason to believe they have changed their minds going from Year 1 to Year 2. If anything, I think this is easily the best risk/reward in #Guyana. We aren't even discussing Ianni, which is very prospective in its own right. BTW, I think it's laughable to compare $AQI.AX with $LAT ... very few early stage exploration stories have the amount of historical work and prospectivity that $AQI.AX has. Many, many prospective targets that have not been drilled yet...if $ABX pulled out after Year 1, very likely they would have been replaced by another partner in a heartbeat. I own shares and very biased. But want to be crystal clear that there's no 'funny business' with the $NEM pulling out and $ABX replacing them as $AQI.AX partner. This is the real deal.
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wannabeinvestor @MiningBookGuy, many thanks. I guess what I am saying is I prefer explorers with established resource and 'proven' potential to add oz as opposed to embryo-like explorers. I am sure ABX know what the are doing, but I am willing to pay up for the likes of NHK, BTR, etc since somehow I think there is less risk (potentially less reward, too).
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@FundamentalAnalysis @BrianBitcoinBull I think the point is, if gold prices continue upwards, you can put money in other companies like $SSP which are also optionality type plays yet more advanced and which have more upwards momentum left due to their relatively lower valuation. You just never know Kerrisdale may attack $FF since they are already not neuymeyer fans. Whilst Kerrisdale can't attack $SSP its already quite cheap. The idea is there are better companies around from a valuation perspective. I would disagree that fundamentals don't matter, ultimately it always does. If you look at Amazon, the market is pricing in that Amazon will continue to grow rapidly and generate profits. Throughout these years it has been delivering sales growth and more recently showing profits so fundamentals are actually beginning to play out, but now its pricing in even more future growth etc etc.... same with facebook which was at a p/e of 100 when it listed, but based on its current earnings, and original listing price that comes down substantially. So those who took a bet on it around many years ago were correct in seeing facebook being able to monetise..... First mining main thing going for it is gold prices going higher, but there are other companies which will rise should that happen to, which are relatively cheaper.
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@Konik $ssp Sandspring announces maiden Mineral Reso urce Estimate for Sona Hill Discovery http://www.sandspringresources.com/i/pdf/nr/ssp-20170223-nr.pdf
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@Wannabeinvestor Probably that's not sufficient for a starter pit to impact the economics. Need more drilling.
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@marketwired Sandspring announces maiden Mineral Resource Estimate for Sona Hill Discovery @marketwired/sandspring-announces-maiden-mineral-resource-estimate $SSP $SSPXF
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anonymous + 400,000 ounces open along strike and at depth isn't enough for a starter pit?
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@TheDailyGold $SSP is a true optionality play. One big deposit is a much better way to go than accumulating a bunch of junk like $FF or $BRI.
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@Jayfire $SSP is my favorite gold optionality play... Monster sized deposit and Not too far out of the money, and probably can start working reasonably well at $1,400 gold. Capex isn't too crazy and they've got Silver Wheaton on board with a stream to finance mine construction. That type of due diligence/vetting convinces me that Toroparu a SERIOUS project that will most likely go into commercial production someday (and also a good takeover candidate)... As for the "junk collectors" not only are their projects more questionable and uncertain, the valuation of the aggregate aren't exactly all that appealing relative to where $SSP is currently trading at. One "all star" is worth more than ten bench warmers. At these prices/valuations $SSP is the no brainer obvious choice in the gold optionality space.
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@Alan I've got exposure to $SSP via my $SLW holdings. I don't know much about the company, management or insiders but I hear a lot about it on this site. @jayfire- who are the 'junk collectors' you are referring to? What if the 'all star' gets injured?
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@Jayfire @Alan I guess you could say anyone who is primarily in the business of collecting number of ounces in the ground as opposed to QUALITY number of ounces... There are no guarantees when it comes to mining, but I'll take my chances and place my bets on a potential all star delivering up to and possibly exceeding expectations as opposed to rolling the dice on a bunch of known scrubs, hoping and praying that one will have a decent season...
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@Jayfire The popular metric EV/oz is entirely overused, misleading and doesn't tell the whole story... Quality ounces are worth a whole lot more than uneconomical, CAPEX intensive ounces that quite probably will never leave the ground
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@FundamentalAnalysis Good points @Jayfire $SSP, it was the fact $SLW are behind the project which gave credibility to this optionality play IMHO. Frank guistra adds to the promotional capacity which should be unleashed in the future to keep price propped up
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@TheDailyGold $SSP @Jayfire @FundamentalAnalysis One issue with $SSP is there are a ton of warrants that will be exercised. That is slowing down the share price and caps how high it can go
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@Jayfire @TheDailyGold Good point, always have to pay attention to share structure and overhang... Though if gold hits $1,400 none of that will matter at all :)
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@Konik But you have to know (Frank)is the owner of almost all the warrants of $ssp
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@Vaughan Define almost all @Konik. Im interested...
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@FundamentalAnalysis @TheDailyGold Agree with that....but most are around the 0.45 region. I think most of us have topped up at that price and below. so less of a concern. Also the increase in shares would lead to an increase in cash and thus a fundamental increase in value of the company (and which should hopefully be used for value accretive purposes and not wasted) But yes the market cap is effectively 50% higher then what it says in a way. Agree with @jayfire point.
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@Konik http://www.gata.org/
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@MiningBookGuy @Jayfire RE: https://ceo.ca/mbgtrends?434d37b94588 - lol, i'm sure i sounded 'extra' crazy at that time! :P I swear i was like the only person subscribed to the $SWA channel for months! Of course it wasn't the only stock to have a great move soon after. But I feel like $SWA is currently transforming in popularity more than most. Not sure how many people follow the "most watched companies" list. But amazingly, $SWA is right behind $SSP! NO WAY I ever thought that was going to happen, and $SWA definitely was NOT on this top list until early this year. Here's a screenshot from my CEO.CA homepage: http://cdn.ceo.ca/1cbhhmq-Screen%20Shot%202017-03-02%20at%207.36.23%20PM.png+ Sometimes it's not a good thing to get 'too popular too fast'. But $SWA still 'mostly' under-the-radar (compared to many other stocks that get 'talked' about more, and with 'big money' type people). Anyway, thanks to all the $SWA room subscribers who moved it onto the list! :)
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@FundamentalAnalysis @Jayfire Absolutely, even though I've got enough of $SSP I wouldn't mind a smashdown in that. I've also like $MAX in the past but sold after the 2016 run up...capex is a small issue, but size/jurisdiction trumps it.
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@FundamentalAnalysis @jmm it absolutely could fall further, but It's in a situation of either it goes bankrupt/and or destroys equity holders or it survives and turns itself around. A plan is in place, two things need to ideally happen gold price stays or increases from current levels, and most importantly the company needs to fix its own operations which is do-able its just a question of whether it can be executed. I would assign a bearish 50% failure, 50% success scenario. Now if successful the company will multibag from todays prices given its priced like its on the brink of failure. This is becoming like a spring the closer and closer it gets to zero, the more violent the upswing if it succeeds (This is typical of optionality type companies look at $SSP). So I would argue with 50:50 chance...the lower it goes the less riskier it becomes all things being equal. Another trigger for the company possibly failing is gold prices going back to $1100 or below and hovering there for the rest of the year, but if that happened the entire sector will be hit anyway.
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wannabeinvestor What gives? $SSP up 9% while other goldies bleeding red.
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@Stealinator my thoughts also. For an optionality play, not exactly following the pog. Maybe got a pump for a nlw.
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@Jayfire I'll take any wins I can get right now lol
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@FundamentalAnalysis @stealinator I'm sure it'll get a smash down, I've got myself prepared for Sandspring at 0.30-0.40 unless they discover a higher grade zone that can be bought in. I think interest rate increases could be more aggressive this year. My inclination is that the fed are accelerating their plans and part of it feels political. They are talking about reducing balance sheet, that was an unheard of conversation under Obama so why now.... A recession under trump would be perfect from their perspective to ensure normalcy in the next election..... #mbgtrends #newbies. I think we could get more then 1 rate hike this year, my personal prediction..........
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@Konik Sandspring on the hunt for major minerals, partner in Guyana http://m.miningweekly.com/article/sandspring-on-the-hunt-for-a-major-partner-in-guyana-2017-03-14
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@marketwired Sandspring Resources Announces Board Change and Stock Option Grants @marketwired/sandspring-resources-announces-board-change-and-stock $SSP $SSPXF
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@JT ;l]\;
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@JT ;
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@lukejackson Talking to a friend who deals with major institutional players the other day - the usual funds they tap for capital are fully invested right now. It's going to take a recycling of capital to occur by takeouts etc for a more sustainable move to happen. We may be at that point very soon. Watching $CNL, $SBB, $XRC, $SSP closely right now. In that order I think they get taken out. Projects with scale that move the needle for majors and have measurably de risked their projects one way or another over the past year. It's time. Garofolo has said so himself.
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