Sidney Resources Corp (SDRC)

[Common_Vengeance]

Shareholder Meeting: overall a 8.5
Takeaways: 1. production on the vein/stockpiling of ore has started ˜700t to process
2. Ore pile discovered on surface next to seeming old mill foundation, this ore seems to not have gotten to processing. This discovery meant additional staking of property, approx 20,000t ore being moved next to processing pad.
3. A building was erected for the processing, concentration, nitric acid leaching, and smelting of metals, management said first results yielded 3.7oz Au/t ore and more to come on silver content but generally higher yield/t and is a nice byproduct for gold mines.
4. 25ton/day processing capacity means if grade remains consistent @3.7oz/t: 1000t can be done in 40 days of operation for $6.5 in gold production possible. Twice as much cash SDRC had on hand all of 2023.
5. With Cash they plan to add capacity to further process more ore than 25t/day, another mill will be erected at Walla Walla (proclaimed to be production ready like Lucky Ben now is) so 50t/day @40 days= 2000t of ore for $13,000,000 Gold revenues at 3.5oz/ton. Mind you, the ore piles are 700tons from Little Giant Vein (formerly known as Lucky Ben Adit 2)
6. Further exploration (likely to be the Arlise property) and more exploration and muck out further into the original Lucky Ben workings.
7. Laser tech, seems they overcame some hurdles, still have some development to do but are working with some great people and alleged testing with more people. Looking forward to hear more hear.
8. Refining techniques/technologies to better the refining systems and clean water capabilities, not only can this help SDRC like the laser tech but possibly the industry. I’m sure more to come here.
9. Going into full year of production on LB adit 2, Lucky Ben original development, and Walla Walla coming into production, it seems 2024 is set for a massive season of production.
10.It seems with looming large revenues and profitability in line for 2024 that the board is setting a goal to get a dividend distribution by EOY. Now if they succeed in this, many here on this board will have to eat their many hundreds of posts publicly. If shorts do exist they will also have no protection against distributions and will have to pay them out to the shareholders that they short against. Ie. Share price would further rise as the deleveraging of a short in a market of no sellers and simultaneously has to pay a dividend distribution against whatever amount of shares they are. This sounds like a very fun and crazy prospective year. Good luck to all, let’s go have fun!

Signing out,

Your everyday, common sense, Vengeance

https://www.fool.com/investing/2018/08/24/ask-a-fool-when-i-short-a-stock-do-i-have-to-pay-i.aspx