POSSIBLYIt's possible to see SGC above $3 in few years only if they secure non dilution finance for Phase2 and beyond, if the price of copper & zinc are way above current price during production and most of all if they discover huge deposit on the property of their exploration licence which is I and some knowledgeable people in the area antcipates. BTW the Eritrean gov knows very well that there is huge gold deposit sitting on the area and the government granted exploration permit licence to SGC to find this huge gold deposit not copper or zinc. The Chinese and others are after this huge deposit not just only after SGC's assets. However based the reality on the ground, I firmly believe SGC will be acquired as soon as they obtain mining licence for about $170-$210 million under current market which is .60-.73c per share. SGC has 310 million fully diluted shares but in realty it is only 286 million shares if you substracted the expired or expiring warrants and option. They are 1,420,000 expired on June 11/2014, 1,000,000 shares expired on Aug 8/2014, 3,125,000 is expiring on Nov 5/15 at price of $1.37 and 19,418,000 is expiring on Nov 17/2015 at price of $1.40.
Keep in your mind SGC has slightly opened the door by discovering high grade gold at AdiRaesi and Kodadu with very small amount of budget that is open to all direction and that is not included to their feasibility study. This huge deposit requires a bigger mining company with a lot of money to get explored and ENAMCO is working towards that direction and that's what SGC makes a big target for acquisition and I wouldn't be surprised if we see multiple offers be it friendly or hostile takeover right after mining licence is granted. Lately the Russians are showing huge interest in the strategic Eritrean mining sector as much as Chinese does but I believe eventhough a lot of people disagree with me on this one that NSU will make a move before anyone with ENAMCO's blessing. In one occasion a good friend challenged Nevsun's CEO Cliff to answer about M&A regarding SGC in Eritrea since he had said many times that they will diversify their investment to elsewhere, but the conservative and intelligent smart CEO refused to directly answer the question but he politely said anything is possible without giving any hint.
For now I will leave you with SGC's CEO Mike Hopley recently interview quote " Actually there are two western mining companies that I can't name obviously, who are particularly interested at the moment. We will see, but it's not exclusively Chinese companies, it's just that if I look at this project and fast forward five or seven years, I see a Chinese company operating the Asmara Mine but how we get from here to there is not determined just yet."
For those who contacts me privately, I thank you for the complement and appreciate it for you positive feedback. However from now on I don't have time nor energy to reply tens messages everyday and will try generally to express my opinion here publicly. Thank you everyone for understanding!!
All the above is my personal opinion
Lucky.