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SNIPGOLD CORP V.SGG

"SnipGold Corp SnipGold Corp is an exploration stage company. The Company is engaged in acquisition and exploration of mineral resource properties in British Columbia, Canada."


TSXV:SGG - Post by User

Comment by imerc23on Oct 16, 2012 8:58pm
218 Views
Post# 20491404

RE: a lot of n's

RE: a lot of n's

Hi geodcan,

I agree with many of your concerns.   I'm discouraged too, as are many investors.  And I have an un-answered e-mail as well.

On the other hand, I've had good success telephoning their office, and have spoken to Tony and John, both of whom were helpful.  And their drill core results weren't really bad -- I'd say that if any other jr explorer in the Golden Triangle (PGS, RG?) had produced those results, their shareholders would have been pleased -- but it's just that they'd got our hopes up that we'd see bonanza results this summer, which didn't happen. 

As for promotion, yes, that's been weak, but I'd have to say that the website and the corporate presentation are both being updated much more frequently than we've ever seen before.  The quality and detail of the maps and technical information have improved a lot too, I'd say.  Yes, their ability to raise money will be limited, but they're a respected team and they've got a lot of contacts in the business, especially Ron, and I wouldn't be surprised if they put together some kind of a financing deal.  One card they've got up their sleeve is Bronson Slope -- it's clear that they have no interest in developing it, so they could always sell it -- even in today's depressed markets, I'd hope that they could get $20 an ounce for it, which would bring in $40 million or so.

And yeah, the share price is the pits, but on the other had, we certainly saw some volume today -- someone gobbled up over 120K cheap shares.

Finally, we have to remember that they've got a lot of their own money on the line with this project. So, I wouldn't write off Netolitzky's team just yet.

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