Post by
mrmomo on Sep 08, 2021 3:07pm
For those that don't know.....
How badly managed this company is........and has been for the last 25 years, i'll just give folks here a quick refresher. First, before you read this commentary, i strongly suggest you read my previous posts on WHAT this company truly is. As i mentioned several times previously, this is a "liefsytle" company for the owners or whomever has controlling interest OR the folks that are currently employed there. This entire group, though not the sharpest pencils in the box (as them being Martimers & a topic for discussion for another day!) they are capable enough to set up an operation in which is benecial for them on several levels. One of the biggest being able to continuously draw revenue either by salary or lucrative options for MANY MANY years. Enough on this subject as it's been repeated several times, so if you want to know more read my previous posts.
As for how terrbily, ineffeciently & incompetently this company has been managed, this was not only by level of competency of the many mgmt teams this company has had BUT it was also by design. As outlined above. There was really NEVER an intent to EVER develope any property here.....that's why we've had the continously flipping of worthless properties & mgmt over a span of a quater century. The only decent properties this company has ever had were both lost. One by pure stupidity, short sightedeness and like i said by design & the other by circumstances YET to be determined BUT i surmise it's a little of all those factors i mentioned above. For those that don't know WTF i'm talking about, the latter is the Pino De Plata property of which MOST of you are aware BUT no one really know what happened. But i'm certain many of you don't know WTH happened with the former, another "potentially" lucrative asset just a few years ago.
This other myserterious property was called the Kay mine in Arizona. Only the long time holders who've been bagholding here for many years will know this OR if you've done some deep DD like myself. Imo, the Kay mine debacle was a bigger screw up than the Pino de Plata situation. Why? Because the assets was a known, proven mine with an actually proven resource in a very stable jurisdiction. Unlike Pino, where the property still needs massive work to outline the resource....if there's anything truly there. The Kay mine disaster imo is just more proof of the stupidity, incompetence & INTENT (take note of that word very carefully!) of the mgmt of this company. In the end, Silver Sprout mgmt ended selling their ENTIRE interest to another Canadian company (with Ontarian roots!) who saw a lot of potential there. Now this company who took over ownership of the Kay mine has done some minor work since & is flourishing big time. It was a company maker in a BIG WAY! That company's stock has gone from a mere from 0.30 before the Kay mine purchase.....to ....wait for it......almost $5 since it has taken over from Silver Sprout! Think about that for a minute my friends.
So right now, esepcially if you're a s/h, you might be asking yourself why? Why did the company make such a dumb & short sighted move like that? The reasons are simple my friends....it's INTENT, competency & motivation! In that order. These fools at Silver Sprout NEVER had the intention, as it is now, to EVER deveope ANY sort of asset.... whatever it may be. Once you realize this, it's only then you will fully understand what must be done on your part as an investor with this investment.
To finish off this post, i will end this this comment. The very perceptive poster Mr. KozmoT has clearly asked (sarcastically but for real) if this news release of the drill results from El Mezquito were just a big joke. I'll respond with this, YES this is all joke, the entire thing company & mgmt included.....just a big joke being continuously perpetuated on novice or unsuspecting investors. For myself, i always adere to those wonderfull but poignant latin quotes of old, "Caveat Emptor"!
Good luck & God speed