RE: Would it be possible...Pathetic, but par for the course in the currently decimated junior sector. I know people want to believe the sky is falling in for SDRG, but give me a break.
All that has happened in the past two months was their "pathetic" auditor couldn't handle the 10K in a timely fashion, and consequently the stock tanks and rumours run rampant that the company is mismanaged, going bankrupt, etc., etc., etc.. Of course, given that the entire sector has been in a bidderless, Chinese water torture decline for months, any time that the slightest bad thing happens a company's stock is decimated. SDRG has been the prime example.
All rubbish, of course. Geez, the company is having some growing pains in just its second year, and be happy that all it needs to fix the problem are a new auditor and CFO, both of which I'm sure will be announced shortly. The assets haven't changed, the fundamentals haven't changed, and obviously all the accounting was kosher (very comical on that one, as not once was even a single issue raised).
Selling begets selling, but at some point soon the buyers will come back in, and god willing the sector has any kind of turnaround in the face of ragingly bullish fundamentals. The stock is fundamentally a steal, and technical is more oversold then it's ever been in its entire trading history.
I know that idiots like ziggy think I am a plant, but that is ridiculous. SDRG is my biggest position (for disclosure, cost basis = $1.20/share), and as a former analyst I do a tremendous amount of due diligence to protect my investments. Rest assured, every possible thing investors are worried about are being taken care of as we speak, including the CFO, Bd of Directors, contingency financing (not needed at the moment, but being taken care of in case), and the IPO (prospectus to be filed within a month).
And people, enough with this B.S. about the IPO being first announced late last year and not being done yet, "proving" that Marc is not a good executive - LOL. The reasons for the delay are, not in any particular order; 1) the horrific junior market, 2) the delay in the two 43-101's, and 3) the E issue. As for issue 2, if you all remember, their engineer promised the Cerro Los Minitas 43-101 in November, but it didn't get done until February, while the first China 43-101 was promised to them in March, but didn't get done until mid-May (it IS done now).
The CFO and Bd. of Directors are a PREREQUISITE for the TSX listing, and thus probably would have been done already if not for the E fiasco diverting mgt's attention. Irrespective, these hirings WILL be done shortly, and SDRG WILL file the IPO prospective within a month or so, led by Union securities.
So keep making up scenarios of despair and see the situation for what it is, a rapidly growing company that experienced a minor growing pain in the context of a horrible market, which consequently has caused an incredibly oversold stock despite extremely bullish industry and company-specific fundamentals.
Hang tough, longs. I'm as miserable as you, but know that nothing fundamentally has changed.
yoyo