We sincerely thank mining geologist Chris Stone for his time and expertise in reviewing Siren Gold’s Mining Permit Application to New Zealand Petroleum and Minerals (‘NZPAM’). Information from this review was presented for the first time at our 31 August Sams Creek Public Meeting in Takaka.
Read Chris’s full report here:
Excerpt from the Review:
Siren is a typical small minerals exploration company, listed on ASX in 2020, with market capitalisation of A$11m and no earnings. Siren has been unable to attract the co-investors needed to provide funding and capability to develop a Sams Creek gold mine and so bring credibility to the MEP Application. Siren, with 81.9% equity, is simply “last man standing”.
NZ Petroleum and Minerals (“NZPAM, a division of MBIE) sets out in its “supporting information” document the various requirement to accompany a MMP application. Siren’s Application falls seriously short in several critical respects:
Siren lacks both the technical and financial capability, has failed to define its mineral resources, which remain very low quality, 64% being highly speculative ‘inferred’, and has only submitted a far more superficial Scoping Study instead of the required Feasibility Study. Siren is simply out of its depth.
