Potential big investors still scared A very reputable member of a German stock board today posted a part of the Northern Miner article. I think that's precisely the reason why investors are still hesitant.
Here's the quote:
"During the stock’s free fall, some investors grumbled about a certain mining promoter’s affiliation with the project: Ian Park, Seafield’s country manager until August 2011, ran afoul of the U.S. Securities and Exchange Commission for his affiliation with Renaissance Mining — a company that claimed to be a leading gold producer in Latin America with three gold mines. The SEC ruled that, in actual fact, the company had no gold production and owned no mines. Connected with those charges, in 2007 Park accepted a five-year ban from being an officer or director of a public company and paid a $30,000 fine, while not admitting to any wrongdoing.
But before talk of a mine can get really serious, Seafield must wrap up deals with local vendors for the remaining 80% of the surface rights.
Once that is done, the company can make its move to obtain an exploitation license
... some in the mining industry still have their doubts as to whether the country will ever be open to large-scale, open-pit gold mines." Unquote.
The good thing, he's gone. Has nothing to do with Seafield anymore. But the fact that somebody like that worked for Seafield even though Seafield has proven enough results, it's still in the expert's heads. And the we need money from big guys to move Seafield. Experts are closer to the mining industry so that's another explanation attempt as to why Seafield is hardly moving up(and falling the last few days)
I remind a certain member of this board who's writing now and then and said 15 Cents are history. It's getting closer... .