RE:Was hoping for middle point from Mr Hinse and Mr Hamelin. Hi fernand
We must recognize Mr. Hinse for having seized a great opportunity when he bought SG.
Yes, we can deplore that he persisted in digging blindly in the Elder mine to find capricious veins that were trying to escape him.
It is likely that if a little Pascal Hamelin had merged with Renaud Hinse, this old cowboy would have quickly succeeded in capturing these wandering veins.
Let us also note that if the price of Gold had been 2650 USD, the Elder mine would have continued to produce profits despite its ramblings.
That said, it is no longer time to complain about spilt milk and at least we know that the Elder mine will reopen one day and produce Gold in a profitable way.
Concerning SG, the figures are stubborn and the market conditions and the reluctance of banks and the government to finance junior mines mean that one or more private fundraisings will probably still be necessary.
Personally, I feel no resentment in being diluted to the extent that this money will allow to produce profits at a level that Abcourt has never known.
To illustrate my point, I would formulate as a hypothesis that the number of shares in circulation could double to finance the CAPEX of 40 million
Fine!
Should we therefore complain when SG will produce at least 30,000 ounces per year with a net profit of 1,650 USD per ounce?