2012 IS GOING TO BE ? Response to Garick
1. REVENUES
Will the revenues cover the expenses or will SFMI continue to pay for services with shares, diluting shareholders in the process?
2.FILING OF THE NI 43-101
That is what they are saying.
3. NEW BOARDMEMBER REPLACING DENISE QUILLAM
What about the other family member? I thought nepotism was a concern? Don't you want the BEST people running the company? Or are you ready to settle for less?
4. SMELTER DEALS WITH OUTSIDE INDEPENDENT MINERS, CREATING ANOTHER REVENUE STREAM WITHOUT PAYING GHDC ROYALTY FEES
I would have preferred SFMI to focus on one thing, getting the mill's tons per day and recovery rate to a point that it was economical, if possible. Instead they move off and start another project, paid for with shares that diluted shareholders, is not finished, and according to Bobby Joe the project is stalled.
5. DRILLING PROGRAM WILL BEGIN WITHIN THE SINKER TUNNEL AND SURFACE DRILLING
How much will it cost? How many feet is the program? How is it getting paid for? How many shares will it take? How much dilution will shareholders have to suffer through? Also, before they can drill they have to blast out rock within the sinker so that the drills can fit. When is that going to happen? Again, how are they paying? Shares?
6. COMPANY BUYBACK TO REDUCE THE FLOAT
I don't believe it. They talk about it but pay for services with shares, diluting the shareholders. Further, there is no way they are going to be able to pay for a drill program, blast out the sinker to fit drills, finish the smelter, and buy nack shares at the same time.
7. WE HAVE LOTS OF GOLD AND SILVER...SHOULD I ADD MORE?
It's all about the gold and silver being economic.
8. EIKE BATISTA LOOKING ON....
Just ready to pounce on a weak SFMI and pick it up for a song. Not a chance he's going to pay a premium for SFMI, if he even bothers. Anyone thinking that he's going to come in and pay dollars for shares is not correct. He's going to come in and take out SFMI for as CHEAP as possible, if at all.
9. STATE OF IDAHO IS BUSINESS FRIENDLY
This is a plus.
10. TSX LISTING IN 2012?
Even with the nepotism? Does the TSX do criminal record checks for board members? Have they even applied for the listing?
11. REVERSE SPLIT IS 100% UNLIKELY...QUIT THE FEAR MONGERING.
It's not out of the question at all. SFMI has a lot of outstanding shares and continues to grow given SFMI pays for services with shares.
12. 2012 BUYOUT? MERGER?
Possible.... but this does not mean for a second that it will be good for long time shareholders. People coming in want the best deal possible for them, not for existing shareholders. Management usually does fine as they are most often granted options in the new entity, but existing shareholders are most often overlooked.