S2 Resources' objective is to provide superior investment returns through the discovery and development of high value mineral resources, as a result of exploration and the identification of early stage assets with high growth potential. S2 Resources is focused on mainstream commodities such as gold and base metals in politically stable jurisdictions such as Australia and Europe and, potentially, North America. S2 Resources is well funded to pursue its strategy.
S2 Resources is well positioned to achieve its objective, having a portfolio of highly prospective and strategic ground, a pipeline of opportunities, a strong balance sheet, a highly successful team of explorers, and a breadth of corporate experience, as follows:
- The Baloo Gold Deposit is a JORC Mineral Resource within the 100% owned Polar Bear Project near Norseman in Western Australia. S2 Resources' primary objective is to determine the viability of an open pit to mine the oxide zone and generate sufficient cash flow to internally fund its exploration activities without the need for future equity funding in the short term, and with modest capital outlay.
- The depth extensions of the Baloo Gold Deposit will be drilled to assess the scale and continuity of the primary gold mineralisation beneath the oxide zone, if present, to better understand the potential for a larger overall resource and mining operation.
- In addition to the Baloo Gold Deposit, the Polar Bear Project contains several partially drilled gold prospects such as the Monsoon, Nanook and Earlobe gold prospects. These will be drilled in 2016 to assess the overall gold potential of the Polar Bear Project area.
- Reconnaissance gold and nickel exploration will commence at the adjacent 80% owned Eundynie Joint Venture and at the nearby 100% owned Norcott Project once these tenements are granted.
- S2 Resources' growth pipeline also includes extensive exploration properties in the Central Lapland Greenstone Belt of Finland and the Skellefte Belt of Sweden, through its 100% ownership of subsidiaries Sakumpu and S2 Sverige. S2 has defined numerous VTEM anomalies in the first VTEM survey ever undertaken in Skellefte. Initial drilling of the first of these anomalies has discovered VMS-style mineralisation at the Svan Vit Prospect.
- S2 Resources has approximately A$18 million cash for working capital purposes, and will be well placed to achieve its objectives without the need for additional equity funding for the subsequent two years.
- Should the Baloo Gold Deposit prove to be viable and mining commence, this may provide additional ongoing cash flow to continue to fund S2 Resources beyond this period.
- S2 Resources is managed by former key founding members of Sirius, who have a high level of corporate and equity capital markets experience, and a strong track record of creating value for shareholders.
- S2 Resources' exploration and evaluation activities are managed by former key founding members of Sirius, who have a high level of technical and practical exploration and resources expertise and experience, and a very good track record of discovery.
- In addition, S2 Resources aims to leverage its global knowledge and networks to identify additional opportunities with high prospectivity and low entry costs.
The S2 Resources team has retained and built on the corporate culture and ethos it created at Sirius, namely, to optimise effectiveness and efficiency by maximising the money going into the ground and minimising overheads and to shorten the time frame to success by staying focussed and exploring very actively.
S2 Resources is also committed to ensuring a safe workplace for its employees and contractors, wherever it operates; to comply with all environmental requirements and minimise the impact of its activities in the areas in which it operates; and to engage with the local communities to ensure its activities are compatible with the expectations and requirements of these communities, and beneficial to them.