With all due respect MHT, I very much value your diligence but you've got this one wrong. Sonoro's management has been pulling the fleece over all of our heads for quite some time. Clearly some people have been privy to the information that the rest of us were not, as evident by the massive and continual dumping that's been occuring and the 8 cents we find ourselves today. Only in the last few days has this info become slightly more public.
SNV is essentially OUT OF MONEY. Pathetically, they cannot even complete the first 3 well drill program. I am absolutely furious and dumbfounded at this turn of events. They raised $15 million for the purpose of drilling, topping facility engineering, and seismic - and here we are, the $15 million has been nearly completely blown and we have accomplished absolutely none of what they set out to accomplish. How an experienced management team mismanaged (blew) this much money without anything to show for it is beyond my comprehension. Two private placements and still not enough money to put a goddamn drill in the ground. I should have recognized there was some fire behind the innocent delays outside of their control they were proclaiming. They have not executed on a single one of their commitments this year.
Unless they pull a rabbit out of their hat and find a way to come up with a lot of financing in very short order, our $1 million per month burn rate, the majority being stuffed into the pockets of "consultants", will leave us completely broke in just a few more months. All without so much as even sticking a single drill in the ground. I hope I'm wrong and that this rabbit shows up, but as each day passes, the rabbit gets one step closer to death, and my money one step closer to zero.
Beyond pathetic really! How badly the retail investor got hosed.
Thanks Wadsworth and company for taking one of the most promising junior resource stories out there that was also freshly flush with cash and turning it into this shell we see in front of us that is flush with nothing more than expensive wallpaper for all to remember what could have and should have been.
