Don't be so hard on yourself. I don't think you are dead yet. You still have an opportunity to re-invest in SNEY and be part of something big.
Yes, there are trolls here pounding their fists in the sand complaining that miracles are not happening. Ignorance is bliss. Let them pound sand. They were fools when they led the cheers and they are fools holding old grudges.
As to the finances, you and I both know that this will turn very quickly. This is a mining company, after all. As such, their is going to be heavy exploratory expenses on the front end creating huge mountains of debt as you have astutely pointed out. Thus far, as you rightly point out, they have spent several millions of dollars looking for all kinds of stuff. And, when they clearly were wandering the desert looking for the big win, they were pumping hard to get cash infusions so that they could continue. That pumping drew most of us in. it included grandiose promises, overly glowing PRs and lot's of predictions of wealth. All the while, they were borrowing like crazy, diluting the share structure and devaluing our treasured shares. It was a very difficult time. We all lost lots of money. All of that is true.
However, you have to realize that SNEY today is a whole new company. Gone is the massive dilution and massive debt increases. Over the past few years, their operating expenses (mostly dominated by the filing/audit costs) have been very sparse comparatively. Yes, we still see some dilution, but, compared to the rate of dilution we were seeing a few years ago, this is very modest.
In my opinion, this is a sign that they have found something. it looks like they needed to act last summer with $75k and they put together the money to do so. They continued with their diamond efforts (either buy-sell or process-sell) to the point that they were able to payoff the loan with the profit of said efforts. That is pretty awesome. To put this in perspective, the typical yield in the Kono district over the past 10 years has been roughly 2-3 karats/ton of gravel processed. Simple math based on the 300T/hr wash plant and the 150T/hr wash plant as well as the wash capabilities of the dredges can quickly paint a picture of a quick turn around and a clean pay off of all that ugly debt you keep refering to.
Again, in my opinion, this company has yet again turned a corner. A few years ago, our CEO took over and changed gears to get cash flow. Now, we are on the precipice of massive profitability.
You can believe in the future and buy or believe in the past sell. Your call.
