$SBR $SBR.ax Cashed up $4.5m Follow on Drilling of Gold Deposit

Raised $4.5m for follow on drilling after announcing significant finds near Pennywest. Peak Asset Management have conducted the raise, with multiple successful raises in recent months. Given gold prices have been subdued and consolidating for four months, we could see this reverse, bringing more interest for gold explorers. Lastly the fundamental look strong with more stimulus being announced in the USA as they deal with record daily deaths from the corona virus. There is a possibility that when power is handed over to Biden, that USA will enter lock down as vaccines will not be available till end of 2021.

Comment:

Air Core drill results disappointed the market. However it should be reminded that Air Core Drilling are quick and dirty drilling technique used to hone in on drilling targets. This leads to deeper and more accurate results with RC and diamond core drilling