SSP been buying around the 2.11 - 2.15 area....
Wednesday August 10, 2011 Chart of the Day (TSXV: SSP
smallcappower.com
Sandspring Resources Ltd.
theaureport.com
TICKER: TSX.V:SSP Visit Company Website
Sandspring Resources Ltd., a new public company representing 10 years of private operational experience in Guyana, is now a wholly owned subsidiary of Sandspring. It has historically employed surface alluvial and saprolite mining. The future is based discovering a large, open-… read morepittable gold/copper resource of 3.3 Moz. Au Eq. in the alluvial trend. Sandspring is a 3,000-tpd permitted, medium-scale miner, which has initiated a permit application for a large-scale bedrock-mining permit and is road accessible.
hide
The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.
Expert Analysis Laurence Curtis, Clarus Securities (8/4/11) "We are initiating coverage on Sandspring Resources Ltd. with a Speculative Buy recommendation and a CAD$5 target price; the company's long history in Guyana has a positive impact on its political standing and while financing of the project is the greatest risk, prudent strategies have been proposed and should prove successful. We see plenty of upside at Toroparu, with an extensive 1,000-sq.-km. land package in a prolific region and a robust ore body that has consistently converted inferred resources with no impact on cut-off grades. . .since September 2010, management has tripled Toroparu resource estimates, refined metallurgy and completed a preliminary economic assessment."
David West, Salman Partners (7/8/11) "The Toroparu project currently has a total resource estimate of slightly more than 8.4 Moz. gold and 565 Mlb. copper; the results from more than 2,500m of drilling from 5 infill holes included several significant intersections of gold-copper mineralization consistent with previously reported results. To date, results from over 22,000m of infill drilling have been reported at Toroparu, confirming the continuity of mineralization. . .additional results suggest potential extensions of gold-copper mineralization to the south and southeast of the deposit, [and] the company noted it plans to expand its ongoing exploration-drilling program through the addition of an RC drill, expected to begin shortly."
Catherine Gignac, Northland Capital Partners (5/30/11) "Sandspring released results from a recently completed infill-drill program at its Toroparu project. Highlighted intercepts are 181.5m at 1.17 g/t Au and 0.15% Cu, including 78m at 1.48 g/t Au and 0.20% Cu; 65m at 1.34 g/t Au and 0.26% Cu and 69m at 1.18 g/t Au and 0.03% Cu. The results comprise the final 6,150m of the 19,572m infill program designed to better define the geological controls, optimize grade and upgrade inferred resources contained within the potentially mineable portion of the resource outlined in the March 2011 PEA; an additional 60,000m of drilling is planned for the remainder of 2011 for exploration purposes and the preparation of a feasibility study."
Barry Allan, Mackie Research (5/25/11) "Sandspring's Infill Results Highlight Consistency: A total of 25 assays were returned from drilling 11 holes, all of which continue to show continuity with grades remaining largely in line with our databank; after incorporating these results, our average calculated grade remains mostly unchanged but the average intercept width increases to 24.1m from 22.7m. . .these results increase our overall confidence in the deposit, particularly in the SE area of the proposed pit outline where a higher-grade starter pit has emerged, potentially enhancing economic viability.
Continued Resource Growth Potential: Sandspring recently released an updated resource highlighting 9.9 Moz. Au Eq. in an open-pit configuration using a cutoff of 0.24 g/t. The current PEA assumes a total of only 5.25 Moz. being mined. . .this opens the possibility of adding 5 Moz. Au Eq. should the project scope be expanded."
The Gold Report Interview with John Kaiser (5/13/11) "Sandspring Resources started off as an alluvial gold operation in Guyana. The company ended up going public and raising capital to focus on the bedrock potential, thereby developing a large gold resource with a minor copper credit. Sandspring just completed a preliminary economic assessment using current pricing that suggests the project is worth about $900M. Yet the market valuation is about $300M. That gives you three to five times upside potential if there are no glitches in the prefeasibility study and current metal prices get nailed to the wall." More > |
