RE: Yo YoThanks all, you have made my day considering how crappy it was. For once, no bashers, just civil, realistic dialogue.
No, nothing is wrong with SDRG, in fact the contrary. What is wrong is that the sector has gone into a bit of a freefall in the last month, as if we haven't been through enough needless selling this year.
Since about November 10th (when gold was $830ish), the TSX Venture exchange has fallen by 19% while the Dow, amidst the "global credit crisis", has fallen a whopping 2%. In fact, the TSX-V is now just 8% above the low hit in August when the group was literally obliterated (again, somehow becoming the worst sector during the last "credit crunch").
Silver Dragon's accomplishments have been nothing short of amazing this year, in light of the HORRIBLE market for junior miners, the aftermath of the E, and the weakest sentiment in the sector since the bull market began in 2000.
The company has completely put the E behind it, hired a full BOD and comptroller, successfully filed for a TSX-listing (it WILL happen in early 2008), and raised $2.5 million at $1 while the stock was in the $0.70-$0.80.
They also made a major discovery in Mexico in June (not that anyone was listening at the time), and completed full drilling programs in both Mexico and China. From speaking to the company, results from both of these programs will be available shortly.
Marc arrived in China Sunday night for his second trip there in a month, and will be there all week. My guess is that something is up, but what do I know? Then the whole team will be traveling to Mexico. From what I see, no one works harder than Marc, and something I'm really excited about is the relative youth of his BOD, whom were brought on board to make a difference, not just to collect fees and options.
Yes, some idiot put in a market order to sell a significant amount in a completely dead market, that is what happened today. Call it tax selling, call it frustration over a gold/silver cartel that has stepped up its efforts to keep PM's down in the face of RAMPANT, RAGING, ACCELERATING inflation.
But whatever you call it, realize that it has driven the prices of some fabulous company's to comical levels, and given the supply/demand tightness it would be shocking if gold and silver do not break out soon. And at that time, the cream of the crop will certainly rise to the top.
I simply cannot wait for the year-end so that we can start over fresh in PM land, as amazingly the group has been hammered despite a 25% rise in gold this year and a 10% rise in silver. This will not keep up forever, I am sure.
yoyo