RE: ..looking down the shaft Thank your trap7 for usefull information. And thanks as well to Pruneface and a couple of others who are posting relevant information on this SGR board. I have put on ignore those who waste my time, so hopefully I can focus on whether SGR is worth further investment.
I have owned traded SGR for years and am now underwater on a few thousand shares, but all in all, SGR has made me a very few $$. However, this last week or so, well is to be blunt - disturbing.
Here are some thoughts
1) SHARE STRUCTURE: SGR has been a "paper tiger" pretty much since day one - the notes in the financials related to THIRD PARTY interests pretty much says it all. I have to say that SIMONQUINN has pointed this problem out for at least a year. SGR INSIDERS HAVE MADE OUT BIG TIME WITH ALL THE INVESTMENT THEY HAVE "SUCKED IN".
2) MINING FEASABILITY: From what I have "gleaned" , SGR is litterally "moving the mine" from the older Rice Lake, to the new zones. This effort has been very expensive, risky and slow. WILL IT WORK?
3) THE MINING AREA ITSELF: It seems that SGR is a tough place to mine? with lots of WET areas and maybe "bad rock" whereby it is expensive to operate due to all the shoring up they must do?
4) CASH FLOW: I though in 2012 SGR was on the right track to produce consistent profits from production? FCF is vital - they cant just keep taking $$$ from gold sales and putting into devlopment - it is a waste of time for investors.
In the end, I am evaluating and looking for information to go along with my own DD. I will say that I do think this DEBENTURE is a positive for SGR - new players are in town and they may put a lid on some of the past shenanigans.
I am looking forward to thoughtfull posts
GLTA