RE:RE:RE:hell of a week....againThis is the rest of the Will P blog from Stockhouse, about SGF:
They could be right, but previous spurts without benefit of news were just as impressive and led nowhere. In August of 2012, Shore's stock ran from 18 cents to 35.5 cents in a few days on two million shares, then promptly retreated. A few days earlier, Shore had said the environmental effects summary document for the project was available for public review and investors jumped in, thinking the environmental approval was nearly done. (The federal approval eventually did come, but Shore is still waiting to hear from the Saskatchewan government.)
A bigger rally occurred in mid-March of 2014, when Shore's stock ran from 20 cents to 45 cents on about five million shares over a five-day stretch. There was news to spark that rally, but it was not material to Shore's mine plan. The company said it had a target for further exploration of roughly one billion tonnes spread across several big pipes, but the projected grade was between 0.05 and 0.09 carat per tonne. This is rock that the company might get around to drilling years down the road, after its big mine reaches production.
The latest burst of investor enthusiasm could get a further boost if Mr. Read, senior vice-president, and Mr. MacNeill, president and chief executive officer, ever complete the company's much delayed revised feasibility study. The study, initially promised for last fall, was to include some big savings to the capital and operating costs of the Star-Orion South mine plan. As well, environmental approval of the big project by the Saskatchewan government could buoy the market further. Still, in the absence of solid information about how the company will advance the $2-billion project to production, the current rally may prove as fragile as the earlier ones.