Grandich says he is buyinghttps://www.grandich.com/2011/01/grandich-client-silver-quest-resources-6/
You can have 9 companies going through the roof and hardly a peep(I’ve thankfully experienced that), but have one hitting the skidsand…… Such is the case for yours truly. Silver Quest Resources(SQI-TSX-V $.48) has given up most of the gains it achieved in 2010.Last Friday’s after the market close release didn’t help (and client ornot, I don’t care for such releases because any thought that time andday lessens any blow is foolhardy). The shame of that release is it cameafter some decent news in the days beforehand.
Let’s cut to the chase. Knowing hindsight is always 20-20, theperception is SQI prospected by drilling too early. Just like saying theJets should’ve never handed the ball to LT to score at the goal linelast Sunday, SQI drilled too early in the Yukon. But I understand whythey did as if they did get lucky, they would’ve been more than one legup on most other players in the area play. But while no home runsnumbers were achieved, valuable geological information clearly wasobtained.
I spent a lot of time with Randy Turner in Vancouver. We had a realheart to heart talk. It wasn’t pretty at times but I believe we bothcame away with not only a real understanding of what we have, but anidea or two that could bring more shareholder value into play.
Here’s the bottomline. SQI has two projects in B.C. that currentshare prices IMHO support the current market cap. If that’s the case, weget all the SQI and Ontario exploration plays for free. That in itselfcould suggest a corporate strategy and I came away from our meetingbelieving Randy sees that too.
The Yukon Gold Rush should get its 2011 kick-off by PDAC. When onelooks at a map, SQI should be in the top two or three land holders upthere. In addition, the results from Boulevard and a couple of othershave SQI’s staff quite eager to get back to them ASAP.
The B.C. projects are both advancing nicely and are much nicer looking carrots now.
I felt the share price had reached lows by buying 250,000k towardsthe close today and had another 250k out there on the bid. I don’t thinkwe race back up but I think it’s more than fair to suggest SQI can haveanother similar kick at the can like it did last year as we get intospring/summer.