RE: RE: GOLD frenzy without SohoGood one,VC.
We have to be truthful here as Mr. Market has done their DD.
The market has spoken.
Taheuheuto has shown itself to be a very robust POLYMETALLIC deposit.
It is not a pure gold deposit although gold is heavily prevelant.
To date Taheuheto has a 251,000 measured and 248,000 oz Au Indicated resource base.
Soho indicates a calculated 165,919 ounces Au present in the inferred category,which is like kissing your sister.
Silver weighs in at 8.2 million M+I.
Copper is very prevelant at Taheuheuto with M+I weighing in @ 45,339,000 lbs.
So,what you have is SOHO totals of 1.8 MILLION OZ Au Eq M+I+I.
Without additional drilling and proving Indicated into the measured category and eliminating your inferred totals into some cohesive guesstimate of Inferred totals the market is indecisive.
150 million shares and 250,000 gold oz measured.
With the drilling to date Taheuheuto shows great promise.
So,I figure Soho has proven to their partner that the deposit is valuable and indeed,it is.
The problem for us mere public shareholders is that we do not come into the equation of compensation-to date.
Ralph is developing the project at his pace and he has been questioned by the industry for doing so at the pace he has.
I figure at the end of the day Soho is a public company so the insignificant public shareholders still own a part of this company.
However,we have very little power and are endlessly placated with "Taheuheuto will become a mine one day".
That is a fine line for public consumption payout but the industry has shown their approval.Thus,Ralph had to reach outside the box and again,all the power to him.
Taheuheto was a mine but that ain't helping my lifestyle,pocketbook or pension plan.
The deposit needs development for any investor to contemplate a purchase of Soho shares.
There are hundreds of companies proving up their projects in an expeditious manner and that is where the public monies are funnelled towards.
There has to be a return-at the very least an immediate promise of capital return- and not just dilution and loss.
Asking your shareholders to wait five more years is a little bit cheeky.
Orko drilled their entire project in two years.
Then again,they had a partner that had an equity interest and assisted in finance/development.
Drilling never stopped,NR's were issued by the boatload and they also successfully mined their share to develop the project expeditiously.
The shareholders won,GoldCorp was paid and Pan American got their deposit.
Shareholders were rewarded,traded the stock and made heavy returns.
With Soho, TAHEUHETO development has been put on the back table.
Ralph will eventually pull this off and I have no doubts but he has put his shareholders (potential and existing) to sleep and turned the stock into a flatliner.
At some point in time people wish to be paid for their capital investment.The sooner the better.
So,management is paid,the major shareholder gets a heavy percentage of a very viable project dirt cheap and shareholders are told to wait five more years and take an 80-90% cut in pay to do so.
As a shareholder I have not been able to trade shares for profit - except for large losses-and I have negative equity to the tune of 80%.
If my story is a normal one then it is understandable that the company/share sees little interest.
Nothing seems to be revealed to come to an expeditious resolution to forward drilling and development of Taheuheuto.
There are no existing or additional funds available to develop the new silver project the company has optioned.
I hope our partner can assist development of both projects without further dilution to public shareholders.
Mostly,I want the company and her vested partner to succeed.
That is what this shareholder has dreamed about -for some time now.
Let's hope Ralph can pull this off.
I should add the sooner the better but that would be cheeky.
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Total M+I+I Au + Ag @ 50:1 gold/silver ratio plus total base metals (M+I+I) calculations into Au Eq:
930,256 + 384,522 + 545,186 = 1,859,964 oz Au Eq
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Total M+I+I(Au and Ag ) @ 65:1 gold/silver ratio plus total base metals (M+I+I) calculations into Au Eq:
869,024 + 384,522 + 545,186 = 1,798,732 oz Au Eq