That's not true. They not only produced meaningful amounts at Pampana, they were recurring and increasing.
They had all the necessary means to expand and Operate that site.
They were using local labour and hand tools by their own admission.
Within 3 months they had doubled production and the wash plants were capable of multiplying those results 10 fold according to company claims.
They projected extractions of up to 20 kilo's monthly using the wash plants at Pampana alone.
If they had done that the stock could have hit dollars not triple zeros.
We were at less than 150 Mil O/S at that point.
The wash plants that were to multiply those results were already supposed to be in transit.
Abandoning the project they developed, explored, pumped excessively, tested, and funding the reports that verified those findings is what caused the stock to crumble.
The Pampana Project was the entire reason SGCP was in Sierra Leone in the first place.
The Hard Rock sites further fueled that hype.
It took years of testing, development, reports, exploration, lab analyzing, labour and Promotion to get to where we were producing growing Recurring Extractions up to 2 kg per month.
Operating costs were minimal.
After building that site up for years they just left without a word of explanation after only just announcing a ramp up and multiplication of extractions in that area.
They left without a word after they had already used their investors investments to pay for the Reports, exploration, testing etc.
They didn't even have the decency to say why.
The stock crashed as a result and the company walked away from its only gold producing venture.
Leaving the Pampana Area was a Material Event and especially so after all the hype and Promotion spent to develop it.
They just quit talking about it and never mentioned it again after Recurring Revenues were multiplying there and massive projected extractions had been announced.
With no Income to fund Operations, dilution truly began but the stock price was so cheap it took far more shares to raise targeted capital.
With the exception of the carbon enterprise in the fall of 2009 until Christmas of that year the stock continued to drop.
All dilution required since leaving the Pampana Area was multiplied because the stock was devastated and worth much less because of that decision and way in which they chose to do it.
Therefore more stock was required to sell to raise finances.
We are at close to 2 Bil O/S as a direct result of those decisions.
The problem isn't solved, the price is into the double zero's at least but that still takes a lot of shares to raise Capital.
The company has a dismal track record in doing what they say they are or will do which is why the stock has continued to be battered over the years.
Fortunately they have at least been partially successful in those claims.
If they are wildly successful this year they should begin the long and lengthy journey to recapture lost ground.
If they don't there will be plenty of time to pick up cheap shares.
The thing is we will be sitting at about 2 Bil shares O/S which certainly contributed to current stock price.
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