TSX:SGR.UN - Post by User
Comment by
marketmineron Apr 21, 2007 3:29pm
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Post# 12652252
Elementwise
ElementwiseI am associated with only one thing... my investment.. That is my only focus.
I could care less how many locals they employ, or how much SGR contributes to the local economy... those facts are great but not a replacement for documentation of valuation of the funds being spent. The government is the place to taunt those stats in an effort to help out the local community... not investors. A Nobel cause, but so is mine... to make money so I can pay taxes so the knobs in Ottawa can give it away!
The reference you made to historical grade is correct... if you were turning inferred into proven probable oz... that would not warrant a news release.
BUT: when you move the drills into virgin territory and have proven the grades extend beyond the implied boundaries of the latest 43 101 then that is material change.
This is what I have been concerned about... failure to disclose the drill results as they become available... Especially when they the known resource area has been significantly broadened and proven to greater depth.
The situation you describe is applicable to a company like Goldcorp or Barrick, but that does not apply in this case because as yet SGR has disclosed that it is only a minor producer of gold.... and we have been assured that is in the midst of change.
I suggest that more emphasis on the exploration information would have mitigated the sentiment in the market as investors would have embraced this story.... This story has been under promoted for far too long... JMHO