Laruch12 wrote: Zephyr, 
Your investment thesis still alive and in play? Best to ignore the selloff and attendant noise and hold for inevitable fair valuation of a big resource in place ? Or time to be doubtful ? Respect your opinions based on earlier posts.
Thanks L


Hey Laruch12

I don't check in here much lately as I've found this board to be a bit of a mind-numbing experience. This experience was even further amplified when I read NLMoose's post yesterday.

I've been invested in venture since late Summer 2021. I stumbled across it as I knew of a couple people in my orbit who were invested. At first I wanted nothing to do with a Jr mining stock but the more I read about what it was, the more I became interested. By Fall 2021, I had begun to invest more heavily as I saw this as a pure M&A play and not a speculative mining stock (as I've stated a couple times here in the past). By Summer 2022, I was satisfied that I was invested at the level I wanted and was basically at the stage of just riding this out to a payout (i've always said this will be a buyout unless they can't find a buyer for value and that's the only case for taking the mine into production). This has always been my endgame and it still is. I have no time for or interest in buying & selling on the ups & downs.

I still find it hard to believe that people are selling this into the $1.20s (and maybe even lower in the coming weeks)! I thought after the rise up in August it would settle back to the $2.25-$2.50 range until the FS study or other material info was released by the Company. Boy was I wrong! As painful as it is sometimes to watch the share price go down, part of me laughs at it a bit. So, even though my investment was fully settled in August of this year, I've actually added almost 40k more shares in the last 2 months (with the last little tranche being last week). So, yes, my investment thesis is still the same as it's always been. I would have been quite content it the share price never dropped and I didn't add additional shares. However, it did drop and, so, I took advantage of it to add at levels I thought were long gone.

I lurked around here for months before I registered this past summer. I registered simply to comment on a poster's (Canticle) view of this investment as it mirrored mine. I must say it was also refreshing to see a couple posts from the poster DeputyDawg this month. He has a similar view of this investment opportunity as Canticle and myself. Go read DeputyDawg's post in early November and his last post from last week. They are good ones and he seems to have experience in the mining realm.

Now, do I think that the Company may have fumbled a bit leading up to the announcement that the FS may be pushed out to Q1 2023. Sure, but that doesn't change my view of the potential here. The Company was distracted until October with the spin-out. I suspect the Company was still hoping that the FS could be rolled out by late Q4 2022 even if delays made it seem unlikely. However, this is an independent, 3rd party undertaking and no matter how much you may want to wish the timeline to move faster, SLR is not going to issue what should be a fantastic FS until they have all of the support they feel they need. If anybody thinks that no pressure was applied to SLR to get this over the line, well, they haven't been around a business enough. The fact that Rowland mentioned in the Q&A that they are hoping to have top-line financial info from the FS study in December is testament to that. Those numbers have to come from SLR and I'm sure is only possibly occurring because of a push from Management. I know it's what I'd be doing. I'm sure SLR would be more content to simply release everything at the same time with the FS.

So, long story short, nothing has changed for me except the timeline. I've only added to my investment and not sold a thing (same story for everybody in my orbit who's invested).

I've never put much faith in retail telling me what this investment is worth. Take yesterday, for example, and the closing price of $1.33. The market told me yesterday that this asset was worth CAD $128 million (US$96 million). Sorry, but, no.

Sorry for the diatribe, but I'm in for the long haul...even if we dip down to the 80 cent range that someone mentions over on CEO..lol. That will hurt to look at but will have no bearing on what an arm's-length company eventually buys this for. IMHO, the question is how many want it and who wants it more. That's still my strategy and it the public market wants to set extremely low share prices until that happens, so be it, and I look forward to the, hopefully, hockey stick rise in the end.