RE: Burkina Faso, Niger and GuineaSure you can believe in that if you want to.
If you have checked the calendar, the SMF sell off started long ago before there is even any hint of trouble in Libya. Also, the average North American is so poorly versed in geography I doubt that most of us would know where these countries are even if you give us a map of Africa! LOL
The trouble of the SMF is actually really simply. There are only two scenarios:
1. The company is lying and it's in big trouble. Someone got wind of that and started to short the company the shorted shares mushroomed in the past few months. The easy money chasers are adding to the number of shorts looking for an easy kill.
2. Some unscrupulous market manipulators pick SMF as the best candidate to create a short run (why I don't know, just why the devil in the movie "The Exorcist" picked that poor girl to haunt). This is all their doing. The unlimited supplies of shares sold into the market is just an illusion (for example, it was created by guys setting up two accounts and selling the SP down back and forth between themselves, it's that simple). The continuous downward spiral is a result of it knocking down the stop losses. Hence it attracted more easy money chasers, and our agony continues.
So which story is true?
I think by March 16, we should know. I can see the added reserves, the facility expansion are just good news that would sell in an up market, but in a down market, it's show me. For that we need a strong Q4/YE results for 2010. To blow that uncertainty away, we need solid financial results.
Meanwhile, you can pick up more cheap shares if you dare. It's a gamble. I for one would not do that but will stay for the financial results. I am a believe of scenario 2. The truth will be out soon.