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Since we are at the pay gravel, it makes sense to wait for these results (at least a couple of weeks PR). After this the company would have no excuses for not meeting their conservative gold estimate of 578 oz gold/month.
For 2011 profitability need 400 oz in Apri, May, and 200oz in June. And maybe 100 oz more for rest of year from sand gold concentrates.
Where are the diamonds?
Assuming lots of gold in the pay gravels, we could know in a couple of weeks in the PR or a mid-April FR.
If the numbers for 2 weeks of dredging are great (last week March plus 1st week April), that would restore Doug & John's credibility (& therefore SGCPs) for gold production. And the stock could reach the $.005s imo.
They should be finding a lot lot lot more diamonds. I don't get it.
So imo a quick turnaround could happen within 2 weeks. Or not if the results disappoint.
ken, imo it's a matter of credibility of Doug & John. Right it has taken a HIT - and we have seen a selloff.
They said this is their year with 4 fulltime dredges operating.
They gave us a "conversative estimate" - which has turned out to be skyhigh vs actual results. Especially in diamond recovery (so far off by 20x - 30x of conservative estimates).
Otherwise with pay gold gravel being processed, there would have been no selloff. But a wait and see. They were way off conservative estimate so they must be way way off about gold/diamonds in the gravel.
It's a Doug & John credibility isssue now imo.
In 2009/2010 it was the CC and value of 8 figures.
Credibility ..
kenjays, there is another company on the Sewa near BO who claims they can recover $million/month on diamonds $250/carat at a time.
They've already test dredged and with good diamond recovery.
So no reason we can't right?
Gold, diamonds,farming/produce, timber (kiri trees)/seedlings, and maybe someday (Worldbank) carbon credit sales.
Today gold, diamonds (1st profitable year 2011)
Tomorrow: Farming revenue (can we have 2 harvests in one year like in Florida?)
Several years: timber from kiri trees; export kiri seedlings to others in Africa
Someday?: CC
SGCP is now making profit, every week, every month since they are scooping up gold from the pay gravels of 4/5 dredges.
Hopefully as the dry season progresses, SGCP will have dredgers work maybe a couple of longer hours to take advantage of easier access.
I'm thinking that in the off season, they will process the tons(?) of sand overburden gold concentrate. Plus do some minimal dredging as high river conditions allow.
I did send John a brief email asking about the lack of diamonds recovered (.25 carats /ton) and less than 160 carats after 5 weeks of dredging.
"only to find more overburden than they expected. It took a long time to remove it, but they are now down to the gravel that, per the elders, had gold that could be seen through the water from boats as they crossed the river."
Roberto, I think you posted something similar to this like 3 weeks ago, if I remember correctly (about seeing gold in the gravel).
That's why I was surprise you went very negative "agree with dupedbySteve" on us.
But still the above is an amazing statement!
Could imply a truly "bonanza" type recovery at on this one gravel pit location.
Interesting & EXCITING: now that they are removing this pay gravel.
What I don't understand is why is the company's conservative diamond recovery off by over 20x? Huh?
That's what I don't get and am disappointed about most.
Other companies claim the recovery of many diamonds.
Jan: overburden: rev near zero
Feb: overburden and lots of sand: lots of concentrates but rev minimal: say $40,000
Mar: some sand, but into gravel: over $130,000 (forecasting last week of March)
Granted it's a swag, but I think pretty close. Anything over $100,000/month is profitable based on last year's expenses.
March 1st profitable month of 1st profitable year for SGCP!!!
That is significant and I think deserves the stock price being at least $.005 imo.
Come on Grawsha. Those were conservative according to the company.
Used 25 tph vs actual 50 tph
Used 6 hour days vs 8 - 9 hours
Used 180 days vs ??? probably 180 (Feb, Mar, Apr, May,Jun, Jul)
That what the buzz was on this board for months. It was conservative. Company was good to be ultra conservative meaning the actual number of course, obviously must be much higher.
I don't know what the company assumed about the weather, but 180 of mining seem reasonable to me.
The reason for selloff is company set expectations sky-high with their conservative estimate which we knew from past results were way way too high. The company is coming in at the lower end of historical results (18 - 60 oz/month/dredge).
Results should be better in April, May, and maybe June.
We have 5 dredges operating on alluvian gravel and the river flow is slowing. Generating gold revenue every week now.
diamonds where are the diamonds. Isn't Sierra Leone chock full of diamonds. We can't seem to find many.
Looks to me that SGCP conservative estimates were at least 4x too high from what the actual results will be.
How did they come up with the conservative diamond estimates when over the last 3 years, they only were recovering a handful of diamonds each year?
Agree PT. Board way too optimistic and gushing with optimism.
Historically the the dredges did 50oz/month/dredges at the high end. We needed more opposing views and balance.
That said, SGCP should have its 1st PROFITABLE year.
PS: Are you really dumping 24 million shares today?
Good start: now generating revenue each from gold.
Gold recovery must of begun in early-March is my guess (before overburden/sand bar removal).
So we have basically 4 months left in the mining season thru July 7 or so. We are now in the honey spot gravel. So next months FR will be all telling. A full month's worth of dredging in the gravel with all 5 dredges.
At least now SGCP is generating major revenue each week.
Where are the diamonds? Where are the diamonds?
Agree Tmob. Gold will pay for expenses and a little profit.
The profit will be in the diamonds.
Hope SGCP can recover just 1/5 of the conservative estimate with 5500 carats.
5400 * $25O = $1.35 million
The good thing is the company is now generating weekly revenue with gold recovery. And has reached the targeted alluvian gravel with even higher concentrations of gold (and diamonds?).
Jan/Feb was mostly sand-gold concentrates that they have stored, but haven't gotten the gold out yet (no revenue). That explains having to sell shares even into March for revenue.
Grawsha that isn't for 2011, but future as big funding becomes available. A good future no doubt.
Today we will be increasing on the 1800 acres, what? Maybe to 2500 acres?
Hopefully on the targeted alluvian gravel, SGCP can recover 100oz/dredge or 500oz/month of gold for April and May. Possible I think if the gravel really does contain the gold in high concentration.
Grawsha how do you figure?
Seems to me the best they can do is $2 million. SGCP should be recovering a lot more diamonds especially on Sewa.
"a large quantity of high-grade concentrate has been recovered and retained for future processing"
This sounds like the same 2-hour concentrate that went thru lab analysis and had the high grams/ton numbers - but we can't currently recover the gold???
Disappointing. Especially the amount of diamonds recovered. Not even close to their estimates.
Looks like their conservative estimates were too optimistic.
These results are closer to their historical (last 3 year) averages.
105/5 = 21 oz/dredge. The average good month was 30s/dredge.
I thought someone on this board was lamenting that some non-producing gold mining companies had stocks near $1.
Thanks Wait,
Oh well. Hope SGCP has learned a lesson. Critical passwords can't just be in the head of 1 person.
Penny, the guy probably enroute.
Thailand - what a 2 day flight trip?
Thanks. Guess we have no backup webupdater.
Guess we will find out if PT was kidding or not tomorrow.
Maybe they decided to post it after hours
since they didn't do it before hours.
Could mean significant info - ie stock price moving - is included. Just guessing.
FR maybe tomorrow.
How about addstaff? One temporary (1day) webmaster hired.
FR come out come out wherever you are.
Glad your back B4!
FR come out come out wherever you are.
With a GOOD FR, how high would the stock go today?
Where's that webmaster?
Hope FR is GOOD news.
Thanks Cork!
stock price going up with VOLUME!!!
Come on 3s today and come FR with ounces & carats.
My guess: SGCP makes 2x more in diamonds than in gold. I know that SGCP wants to be known as a gold firm.
Raw diamond prices are going up, plus one only needs to find several 6 - 10 carat diamonds to jack the price up.
Aren't there any ancient gravel deposits near Sierra Leone rivers that we can open pit mine for diamonds and gold? Maybe a small front loader and wash plant/sieves under a large tent?
Mrbr, the Bork/JBIT kryron-aluminum armor is superior to what are troops are using today (level iv). JBIT just chose a lower rating to start the NIJ cert.
Look at the Roy/komo demo. Those are AP rounds being shot almost point blank range: over 60 AP rounds - and the armor plate is still GOOD. Some of those round had to hit the same impact location several times. How is it put, one can turn the armor plate around (bulge would face outside) and continue using it.
Wow. Interest building for Bork and amazing kryron armor.
Just 1 major contract and the stock price takes off.
Maybe $.003s tomorrow and an FR with ounces/carats?