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Saturday, June 05, 2010 9:25:01 AM
I would like to say that I agree entirely with eyeamgame and feel like he speaks directly for me. My feeling is that SGC will eventually be profitable but it seems like they have no problem disregarding shareholders as they make it happen. I put my money here and expect a return on my investment. Reporting production twice per year is unacceptable. Past practice has been to report production numbers more often during the mining season. I feel like my investment has been further damaged.
As far as calling the President of SGC....of course he is going to be positive on the future of the company. From the view of SGC they are doing what they need to do to survive and grow. It is great that he is willing to talk to shareholders on the phone but remember...he wants you to buy shares in SGC. He is selling you on the company. Remember the last CC he is the same person who was asked about dilution and he could not comment and suggested asking the CEO.
To illustrate my example...If Rev called Cork, Bikeguy, eyeamgame, crusader, or myself..what would we tell him if he asked if he should invest in this company? What would you tell your relatives today? Cork, how does this company treat shareholders? Bike, does the company accurately and clearly report production and equipment purchases? Eye, do you think dilution will be an issue in the near-term? Crusader, do you believe this company has an excellent management team that executes its plan? Clasko10, will the company support its stock price when given the opportunity? In my opinion the comments from long-term investors would be a bit less rosy than talking to management.
In conclusion, I want to repeat that I think the company will be profitable eventually. The CC's are potentially huge and they should have enough mining equipment to get good production numbers. If the price of gold rises that would make it easier. I just hate the company reporting twice per year and the attitude of management toward shareholders. My true concern is PPS and if it is rising they can hate me as much as they want. When the PPS is stuck and/or dilution is occurring I hate them with the heat of a nova. We'll see what happens on or around July 15. In the meantime this post will provide a new topic for the steam bath pumpers.
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