RE:RE:RE:RE:RE:New CFOI truly believe we will see some decent appreciation soon bodybuilder. The share price does not reflect everything Nigel and the exploration/production team have accomplished over the past year.
In one year Sage has:
- purchased 100% interest in Clavos,
- signed milling agreement @ Black Fox,
- raised $13+ million for capex,
- dewatered Clavos almost 300 metres,
- completed 5000+ metres of stope definition drilling,
- delivered mineralized ore to the mill,
- identified 7+ new gold zones at Clavos and counting,
- identified new (potentially massive) VMS targets at Onaman
- begun drilling high grade plunging vein system directly under mining ramps
This has all been accomplished on a shoestring budget, extremely impressive. Next catalysts include:
- first gold pour
- underground exploration assays
- pre-feasability study
- revised resource update/PEA
- commercial production decision
SGX would be much higher if not for the warrant overhang which has acted as a damp cloak on the share price. It's a Catch-22 since these warrants were included in the initial Cartesian capex deal but it's just the way Bay St. operates to get their risk free money back and juniors don't have a choice if they want to raise money. However, Cartesian and other private investors aren't in this just to churn a few million warrants. Last I counted a month ago Cartesian have exercised almost all of their $0.15 warrants over the past 8-9 months.
After the latest financing (of which terms are very benevolent) some investors clearly threw in the towel on waning patience and technical indicators. Mistake. Assays on the Kinross zones are just around the corner which should be definitively indicative of a massive increase to indicated and inferred reserves upgrade + extension of mine life. Not to mention Sage plans to conduct surface drilling on 5 new gold zones in the Clavos vicinity and plans to drill underground all winter long. This is crucial since it justifies the costs of production and will make Sage a coveted operation with exploration upside (Clavos/Onaman) in the Timmins M&A scene. This is likely why Nigel just brought in this new CFO.
If/when Sage delivers on assays and reserve increase there is bluesky potential for multiple expansion on cashflows and spec. My personal target is $1+. The hot tip newsletter publications and their bumbling parasitic readership will come, don't worry. I've seen it with numerous other over promotional underdelivering companies. The difference here is that Sage is being built the right way with transparency and tangible results first, promotion last.
The good ol' days haven't even begun yet.