Lassonde speaks. All should listen!! Finally a very good article. I always get the impression Lassonde is genuine and that's no different with this interview.
If the finacers, banks, institutional investors, mutual fund managers, and the entire consortium of big dollar holders all have the same intuition in regards to the diamond space THEN our beloved SGF is indeed a very long ways from fruition. As Lassonde suggests, it may be another 10 years before someone pulls these diamonds from the earth and makes "a ton of money".
FactsRbest, has properly interpreted this play for ten years and he looks to be right again with his comments regarding shelving of SGF projects. He restated these viewpoints about a year ago and to be honest I didn't believe it at that time. That was before nearly every institutional holder exited, before layoffs hit, before the so called botched deal, and as usual continued delays (EIS), etc. Now one of the most intelligent diamond investors on the planet is practically saying SGF projects are good BUT do not look for production anytime soon. In a way, Lassonde is also saying the SGF projects are shelved. He even specifically states "if he were a big major, it would be a no brainer. He would buy SGF place it ON THE SHELF and 5 years later start the process to produce diamonds". Under this scenario, I don't think he is talking about someone buying our little flower @ a premium. So much for the outrageous 20 bucks per share predictions we commonly saw about 5 years ago. No helicopters (or even helicopter rides) under this scenario.
It is no wonder KM is so quiet and hidden. If he were to be honest and speak the truth he'd have to admit he has truly missed the window of opportunity for his shareholders and as a result many will never even break even. Even that is not for sure and likely not for several more years. New investors will make money but again who knows when? The longshoremen had no idea how LONG they signed up for and how LITTLE they would likely get for their risked assets. We can blame this entirely on KM and his lousy leadership over the last 6-7 years. How many botched deals? We'll never know, but we can be sure there was more than the one they acknowledge. How many lies? How much misinformation? How many delays? The list goes on and on. Poor leadership secondary to greed and selfishness IMO
I have to use duffer's line and ask What do you see??
GLTA
Pickinbottles