Post by
mrmomo on Sep 22, 2021 9:40am
Only higher Au/Ag prices & Pino.....
Can save this garbage now, that's the sad state of Silver Sprout holders at this moment. I'm pretty confident precious metal prices will explode at some point in the next 6 to 12 months BUT i'm afraid the latter might be history. I was truly hoping there could be some positive resolution for the Pino asset this year BUT ineptitude & bungled mgmt have completely derailed ANY possible agreement with the land owners ANY time soon. I don't totally blame them for that loss, but they do deserve some culpability for that failure imo. This is very disappointing for s/h as it was the MAIN reason for me (and i'm sure many others) being invested in this HIGHLY speculative play and quite frankly the only one. Though i was totally aware of ALL the risks involved, it still stings & it's quite irritating as i don't like to lose in ANY company i'm invested in. As i'm certain many here don't either.
The most disconcerning thing about all this now is that all of us are stuck in a bad investment with literally no hope except higher metal prices. In addition, the doomsday clock is ticking for s/h on the high probability this deceptive mgmt pulls another bad trick and delivers another fatale blow to stock holders. When your investment has no cataylst whatsoever and everything is dependent soley on the commodity it's based on.......you have a MAJOR problem on your hands. In conjuction with higher metal prices, there needs to be some type of progression on the developemental or operational side of the company for them to succeed, but it's completely non-existant here. And has been for 25 years. Then there are "other" significant issues creeping up like a bad virus. Like the one i mentioned in my previous post here, that looming company risk is out there just hiding & lurking in the dark wating to come out.
Some might say or think we really don't need the Pino De Plata asset as the company has several other properties in it's portfolio it can fall back on. Yes, that might be true and i even stated myself that "at the worst, IF Pino fails they have other assets they can go to". The problem here though, is that all of their remaining properties are total worthless garbage. For perspective, El Mezquite was suppose to be their No 2, their second best "potential" asset incase Pino was a dud or lost. Just look at those horrible drill results we just got from El Mezquite, a total uneconomic duster so far. If El Mezquite was their 2nd best & drill samples were horrid, how much worse will those lesser properties be? I mean their remaining properties likeJackie & Damiante are all very close to El Mezquite andi don't expect ANY drilling in those areas to be ANY different from what we got from El Mezquite. I don't want to even imagine how bad the others will be.
The "raison d'etre" or the main prize for s/h here was Pino, and the company failed to secure it. If they weren't able to come to an agreement for the last 5 years since the purchase, i highly doubt they will be able to do it ANYTIME soon. Besides, company actions for the last few months were quite revealing as mgmt has decided to switch gears and picked up more worthless assets in a even more difficult & resource scarce area such as Newfoundland. Newfoundland aint even close to being resource rich like such areas as Mexico, Australia or Africa when it comes to metal discoveries. In reality, nobody really cares for Gold & Silver assets in place like Newfoundland, they're not really needed or wanted by serious investors nor the market. Give me a copper, nickel or cobalt asset there and then i and many others will be VERY interested. Not sure what the company's mgmt was thinking by spending money and scarce & valuable resources in those dismal areas when there are so many other potential lucrative assets in much better locals. But then again, it would make sense if this was a lifestyle shell company with an opportunistic mgmt just jumping on the latest trends to give the illusion of being credible.
Any that's my rant for the day, and i hope this has helped some of you in some way. Hopefully wih some time, some luck and a minor miracle we can GTFO of this investment with some minor losses & peace of mind within our lifetime.
Good luck & God speed