Spyglass Resources Corp SGLRF

RE:RE:RE:RE:dividend announcement today or tomorrow??

[sanityseeker]

I would never try to predict share price in short term and I am not expert enough in Geology to make a very safe bet on future drill results. However, after taking a closer look at the past five quarters reported and the guidance at each quarter I notice the following trends:

1. With the exception of one quarter, forward production guidance is routinely reduced;
2. Debt levels increase;
3. asset divestitures occur;
4. On average there are no increases to capex to account for where the proceeds of the asset dispositions or increased borrowing.

i am having a hard time maintaining confidence that this management is on track to increase my equity, based on the forgoing. These guys are terrible at hitting their guidance.

for that reason, I dumped a third of my position just above break even today (after sitting on this for over a year). 

I hope I'll regret it for the sake of my remaining stake, and for the sake of the rest of the share holders ( and the sooner the better).

I am now trying to decide whether to maintain the rest of my holding. If anyone has a good sense of where production is going in the longer term, with persuasive verifiable reasons for optimism, please share. I'm happy to remain patient with the remaining holding but need a good reason. any Expectatiob ofenergy price increase is not sufficient reason as I can get better leverage to that exposure elsewhere.

Constructive thoughts on this would be well appreciated.