these bashers just won't stop,no matter how great SDRG's results are. What's the matter, did Marc make you cry in the past? Or, perhaps, did you just lost a bundle shorting SDRG?
As for recal's lame analysis, yes some of the juniors are doing great. My SPM, SVM, and LGD all hit new highs this week, for instance. But the majority of the smaller golds have seen dramatic declines in share volume and interest in the past week or two, to the point that much of my portfolio all of a sudden is trading by appointment compared to a very active trading environment in prior months.
As for "hype" about the 43-101, give me a break. The press release itself was a Herculean effort for Marc given that he, as a Delaware company, is held to much stricter disclosure standards than his TSX venture counterparts. That is, as a U.S. listed company, SDRG is NOT ALLOWED to publish estimates of measured, indicated, or inferred resources, only proven and probable. If Canadian companies had this restriction, then 99% of 43-101's would not be publishable. Due to these rules, Marc has had to fight tooth and nail to get anything published, despite having had the 43-101 report completed more than a month ago.
Irrespective, per my earlier post titled "43-101 details", the 43-101 resource estimate is around the 1995 estimate disclosed in the SB-2 that was uploaded last week, of an estimated 32 million silver equivalent ounces based on price assumptions for gold, silver, zinc, lead, and copper that are no doubt conservative. If you don't believe me, here is the quote from the SB-2 on this topic.
"In 1995, Minas de Bacis (Minas de Bacis, 1995) completed a 30-day evaluation of Cerro Las Minitas which consisted of analysis of previous data, inspection of accessible workings and analysis of surficial geology. Based on that work, Minas de Bacis reported an inferred mineral resource of 1,296,000 metric tons grading 0.12 gr/ton gold, 102 gr/ton silver, 2.86% lead, 10.36% zinc and 0.15% copper."
This compares to the 20 million ounce estimate in SDRG's power point presentation on the website, so clearly the report is significantly better then expected, particularly as the qualitative commentary clearly states that these estimates have SIGNIFICANT upside, not including any of the recent exploration successes, for example. So where's the hype, my dim-witted friend?
Remember, SDRG now has an inferred resource of at least 32 million silver equivalent ounces in Mexico (with significant upside potential), compared to the 20 million ounces estimate on their website presentation.
In China, where it seems everywhere they drill is a success, this same presentation shows an estimated 340 million silver equivalent resources, as measured by Chinese 22b standards (the Chinese version of 43-101). Marc has already gotten the ball rolling to convert these resources to 43-101, and likely this number is also sigificantly understated due to the great early level of exploration success.
So, pick your number for total silver equivalent ounces; 200? 300? 400+? Either way, all of that for the bargain market cap of about $115 million, as well as for Marc's dominant market position with the Chinese government. If the 360 million ounce silver estimate on the website is correct, that means the Street is paying just $0.32/ounce for SDRG stock.
Quite cheap compared to nearly ANY junior, but if feel that that's hype, so be it. Keep shorting.