RE: Basic questions not answered-PUMPERS PREFER NANormally I don't respond to idiocy, but once again the bashers are making up lies. And "goldbagger" sounds a lot like the "bagger" that was permanenty barred from this board for multiple counts of outright slander. Not to mention suckrd, who for the first time actually brought up real questions other than blatant bashing, even if the issues presented were barely worth mentioning.
But for the record, per above.
We have not obtained title insurance for ourproperties.
If such claims are successful we may lose our interest inthe properties.
THIS IS HUGE-THE COMPANY, FOR THE FIRST TIME, IS WARNING INVESTORS THAT THEY MAY LOSE THE PROPERTIES -WHY WASNT THIS IN PREVIOUS 10K'S?Talk about pure lies. This is standard risk section language, and has in fact been in EVERY ONE OF SDRG's prior 10Ks. Moreover, it's only a risk if there is a legitimate reason why someone would be challenging their claims, which there never has been, nor is there any reason to believe there will be.
And no, accounts receivable are not debt. But either way, I'm not sure why it would be considered "dangerous" to investors that a company has accounts receivable. LOL.
As for production, they did commence toll milling last year, but I believe they discontinued it because they determined that the tolling charges were too high. With the mining permit expected imminently (April or May, per the Company), they'd rather just wait and sell (at higher silver prices, BTW) when their own mill is running later this year. Either way, near-term production is just a small part of the story, for anyone with half a sense of junior mining investment. This story is about expansion of the resources in China and Mexico, and potentially production of one of hte largest silver mines in all of China (maybe THE largest).
I'm not sure why anyone would expect them to list how much ore is stockpiled, but I have been told that it is several years worth and the pile keeps getting larger as they continue tunneling to prepare for production later this year. And my calculation of operating costs is roughly $1.00/ Ag ounce after Pb and Zn credits, and no more than $500k-$1 million of start-up costs.
I don't know if anyone is the "Chief Geologist" in Mexico, but I do know that the website clearly lists the key workers in Mexico (below), as well as the David Wahl, the Geo that wrote the 43-101 in China, recently visited Mexico to assess it.
Corporate Offices
(North America) | Mexico
(Silver Dragon Mining De Mexico) | China
(Silver Dragon Resources China) |
Marc M. Hazout
President, CEO and Director | Juan Carlos Gonzalez
General Manager, Cerro Las Minitas | Manuel Chan
VP Operations |
Alessandro M. Motta
Director, Investor Relations & Information Technology | Cristina Sanchez
Administrative Manager | Tony Yu
Operations Manager |
Prasanna Ketheeswaran
Corporate Controller | Manuel Arturo Jaquez
Mine Superintendent | Ava Li
Assistant Operations Manager |
Dena Farsad
Corporate Administration | Carlos Galvan
Corporate Secretary | Dr. Tiebing Liu
Senior Geologist |
No, they haven't replaced the CFO, but they haven't needed to yet and Prasanna obviously gets the filings done as Controller. Not to mention that to major Canadian financing leaders in Fung and Brown are on the Strategic Advisory Board, also listed on the website. When a TSX listing is eventually completed (targeted later this year, subject to market conditions), I believe someone will officially need to be hired as CFO, but I'm not 100% sure on that.
And finally, what a freaking ridiculous comment about spending on corporate versus drilling. In case you didn't notice, the sector was destroyed in 07-09, crushing all the stocks (such as SDRG) and cutting off nearly all financing. Thus, drilling was obviously less. Of course, you are ignoring the fact that SDRG spent more on drilling last year (probably around $2-$3 million) than nearly any other mining company its size, using the funding from selling a stake in Sino-Top to Shengda, the largest silver mining company in China. That drilling doesn't show up on the statements b/c SDRG has a passive 40% interest in Sino-Top, but never mind your doing a little due diligence or having an idea about what is going on at the company you are bashing. Just make up lies, that's the ticket on this board.
This year, a massive $4 million drilling program is planned in China starting next month, fully funded on SDRG's part by the sales of Liangdi and Sanhanabao, two superfluous properties, and in Mexico I believe a major drilling program is being planned as we speak.
Once again, only yoyo actually does research and states facts and details on this board.
Oh well, at some stock price ($1? $2? $5?), the cretins will retire to their mother's basements for good and shut their mouths.