POG at 1200 SAG at all time low and heading south more..with current POG level it seems to be only a question of time until the operation must put on total halt. Management stset in earlier Nrs production cost are about 1450 to 1600 /ounce.
Taking into consideration the amount of produced gold for the last three month they created a huge huge loss by now. I guess banks will not be happy , not to mention the voided credit facility the proudly annouced a year ago. By now SaG is worth close to fife million but that debt could easily tripple that amount. IMO a five million company with 15 million debt is doomed to die.
I wonder if the next Nr says: Due to unforseen obstacles we have to close down all operations for an unlimited time .
Soon POG hits the 1000 USD mark that might be the trigger for that failing company to finally got delisted.
BTW they said the rev split will atttract new investors, so far i have seen it only attracted new directors with a decent income .
We need an additional split they should have lstened to my proposal 1000 to one , that wouild have given lots more room to fail ..
This is doomed to die , if it hasnt alreday..