You know, when you are a company that is starting up, you have nothing but plans, or if you are lucky you have a claim. But since there is just a claim and an operating strategy how are you going to attract investors? You can look to past history, claims around you, and finally assay reports. If you have pits and natives working them, that indicates something, but the gist is, you need to show something to get this started. When I want to drill a well, I look to the surrounding production, new zones, old zones, geology and I put it in a private placement memorandum and send it to my investors. I'm trying to entice them and get money. But ultimately it depends on my knowledge and good guesswork. I liken it to selling "Texas air." If you have a producing well in the area, you've proved it up, but if you're starting up, you look to past production or production from other's in the neighborhood.
If SNEY had to publicize its new start up, it could have done a lot worse than showing natives testing the area. It could have issued all kinds of PRs like SAEI and some others. I think they have been quite conservative. They stated what dredges they were going to use, and a lot of novices took a look at them and thought of them as being toys, not something a "real" mining company would use. Only someone like Dredge could appreciate what SNEY in fact has. Real production figures won't come out until later. Could be not good, good, excellent, or enough to blow your socks off. Using th oil analagy, if there is enough oil to justify completion, I go back to my investors and advise them we need more money. The first round was to drill, the second was to complete. Simplistic description, but that was what SNEY was doing. It feels like it has enough to complete its project and it needed more money to do it. It got it. Now the serious waiting is in.
A basher with no information sits around declaiming what is and what isn't because he has no idea in Hell what is in fact going on and like the teenager he is, CS is throwing a hissy fit. I don't know what is happening, but I suspect that unless SNEY is severely understaffed (I'm sure they are gearing up as we speak; after all divers operating the hoses have to be trained and I'm sure they are not that plentiful right now), it is dredging, stockpiling AND DOING SOME ONLAND PROCESSING. The point is we don't know. When the dredges can't be on the river, they will be doing even more onland processing.
I recall, and someone can remind me if I am right or wrong, there was some production from the pits but ownership was given over to the villagers for PR reasons, and as part of the price SNEY had to give in order to operate. If not, no big deal as that was never intended for big-time production.
Who's worried about a buyer being there? Anyone doubt the market for gold anywhere in the world? Where there is gold, there is a buyer. How are we going to market REEs and who can process them? Boo-hoo-hoo. Got nothing better to do then play at investing. Get down and get real.
The real legitimate fear is that SNEY is a sham. In my MHO, it is not and I am investing in it based on my findings. I got in as a day trader and oops, I stayed. If you want to play the dips, do so. I don't have the expertise. I've managed to buy on the upticks, which for day trading spells out loser. But I'm not here to make five or ten thousand at a whack. I'm looking to make more than a five or ten million and I think in Trader's immortal words, I am going to be holding the bag.
AI
