RE:Filing SNAFU:The sellers of the stock are absolutely not thinking clearly. The market cap is C$9.1 million ($6.7 million). Why would you sell under 20 cents? The market cap is lower than the money they have raised/put into the project. SBM has a fully functioning processing plant with a vein that has high grades of silver, gold and palladium. There are plenty of mining exploration companies that have no infrastructure, maybe a few good drill holes trading at multiples to SBM.
My biggest complaint right now is the Washington Mine progress. The 1500 - 3000 ton sample was supposed to have occured in July. We are now in November and still no bulk sample. SBM said in a video there are contract miners working 7 days on 7 days off producing the bulk sample. What the stock needs is to announce they have produced silver. For a year, the promise has been about near term production. All we have seen are a few silver dore bars.
I think folks that sell at these prices will be kicking themselves by the end of the year. Assume 30 ounce/ton for the Washington Mine bulk sample (they've seen 50 oz/ton). For the 1500 - 3000 ton sample, they may be announcing between 45,000 - 90,000 ounces of silver were produced. That should get investors excited.