sbs - Sub-Sahara Resources

[floyd]

new gold joint venture signed, $3 million to be spent over five years, check announcement:

http://www.asx.com.au/asxpdf/20040302/pdf/3kvh9dqtctcwb.pdf


seems promising considering drilling results are also set to come out this week - could be worth keepin an eye on.

[floyd]

going on a bit of a run this morning, could be the drilling results are positive

[miner]

Big vol boys something up?

Cheers
Miner

[floyd]

the rumours that the drilling results are more than positive

[floyd]

more drilling results out overnight, very positive too...worth a watch today.

[stolwyk]

Now 8.3 (+0.8)


Gerry

From H/C:
Subject shows promise imho
Posted 14/12/05 19:19 - 57 reads
Posted by stolwyk
Post #830490 - start of thread - splitview

Managed to get some today at 5.5 cents.

Gerry

[stolwyk]

31 Dec. 2005:

SBS= Sub-Sahara Resources NL. Shares 302.3 mill. PP shares: 32.1 mill.

SBS website: http://www.subsahara.com.au/
It is being updated and it is better to use the European PRESENTATION of Nov 9, 2005 and this will be referred to from now on:
http://stocknessmonster.com/news-history?S=SBS&E=ASX&Year=2005

SBS operates in Eritrea and Tanzania. There are 5 Joint Ventures; Sunridge Gold in Eritrea and 4 others in Tanzania.

17th Jan 2005: Suspension lifted.
"However, the optional equity participation of the government with respect to mining operations would increase from 20% to 30%".
http://stocknessmonster.com/news-item?S=SBS&E=ASX&N=279955

14 Nov 2005: Raised cash of $0.82 mill.


1. ERITREA
ASMARA PROJECT: Pages 3 and 4 of Presentation.
Debarwa Copper Gold (JV) Page 5 of Presentation:
18 Nov: Conceptual Mine Plan Commences at Debarwa in Eritrea
http://stocknessmonster.com/news-item?S=SBS&E=ASX&N=305901

28 Nov 2005: Drill results from high grade Adi Nefas gossan project, Gold, silver, copper and zinc: Page 6 of Presentation:
http://stocknessmonster.com/news-item?S=SBS&E=ASX&N=303869


District ZARA with prospects Koka and Konate--pages 8-10 of Presentation:
KOKA prospect: -Drilling results:
24 Oct: http://stocknessmonster.com/news-item?S=SBS&E=ASX&N=302996

16 Nov: http://stocknessmonster.com/news-item?S=SBS&E=ASX&N=305673
7 Dec: http://stocknessmonster.com/news-item?S=SBS&E=ASX&N=308209


Regional Projects: VMS: EMBA, DERHO, KODADO and GOLD: GUPO GOLD, MEDRIEZIN, SCHIMAGALLE, TORAT: Page 6, 7
GUPO GOLD Project: 300,000 ounces of Gold.


2. TANZANIA
Nyanzaga Project (JV Barrick), SBS: 27.3%. Pages 12-14 of Presentation
5 Oct 2005: Barrick accelerates expenditure at Nyanzaga Gold Project:
http://stocknessmonster.com/news-item?S=SBS&E=ASX&N=301144

6 Dec 2005: Progress Report, Tusker Project
http://stocknessmonster.com/news-item?S=SBS&E=ASX&N=308114


Lake Victoria Prospect (JV Currie Rose), Pages 15,16.
8 Sept 2005: Positive Results from Mabale Hills Project in Tanzania:
http://stocknessmonster.com/news-item?S=SBS&E=ASX&N=298555

Western Rift Prospect-PGE ( Platinum).(JV Canyon)

Nyakufuru Project (JV Resolute), Pages 15, 17 of Presentation.

Subject to audit:

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.

[stolwyk]

Media Release - Asmara Joint Venture Results

http://stocknessmonster.com/news-item?S=SBS&E=ASX&N=310763

[stolwyk]

The share price shot up to 9 cents.

At this point, an Announcement was made. This said that Sunridge, the Asmara Project operator, wanted the 48% SBS holding in return for Sunridge shares:

Receipt of Notice of Exercise of Option from Sunridge
http://stocknessmonster.com/news-item?S=SBS&E=ASX&N=311198

There was some confusion and the share price dropped to 8.1.
I, together with others topped up our shareholding and later SBS was 8.7

[stolwyk]

Did some work on it early this morning on H/C.

Current share price 10.5 cents.

I did think the matter concerned 3 mill ounces but the proposition now is that there are 4 deposits involved with a considerable amount of ounces. These require more work.

The Sunridge shares shot up 16% overnight or from CAN$1.50 to CAN$2.60 in the last few days. Asmara is their main project.

There is a large turnover of SBS shares, some 7.6 mill already.

Talked to Perth yesterday and the CEO of SBS told me that the Sunridge proposal may not necessarily be accepted. The Directors have about 65 mill shares. A special meeting of shareholders is needed to either ratify or reject it.

Considering that the Sunridge share price is quite high, they ought to come up with a good offer.

Gerry

[Packersoldkidney]

Nice Gerry, very nice indeed.

[stolwyk]

Thanks PSK.

Now 12 cents (Up 3.2 or +36.4%)

Asmara Joint Venture Update
http://stocknessmonster.com/news-item?S=SBS&E=ASX&N=311319

[stolwyk]

Dropped back but rose again today, now 11 cents.



TRADING HALT. COULD LAST TILL WEDNESDAY MORNING

[Packersoldkidney]

Good announcement for this one this morning.

[donnie]

Could Sub Sahara make a comeback.

Anvil mine took a piece of the company recently showing it had confidence in Sub Sahara.

There could be some interesting times ahead for Sub Sahara still.

Sub sahara hasn't done much lately. currently 10c with the sell side building up and the buy side going down.

It maybe one to add to the watch list again with drilling starting soon.