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SQI came on my horizon late 2009. Last

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gharma   Thursday, 07/28/11 03:56:41 AM
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SQI came on my horizon late 2009. Last year after they optioned out Davidson prop to Richfield, which more than doubled that by staking, and with minimum drilling investment Richfield did a 10x to the buy-out, I was pissed at the almost non-existent development SQI was doing (pretty cash low).
I would not be surprised to see the value of their 25% in the JV increase as most of Richfield value at buy-out was in work on what they staked, and one would have to believe the first claims in the area covered better prospects, but then as above so below does not apply to deposits.

Now they have higher costs with the new JV but their ability to raise cash with less dilution is improved.

I have always thought they kept their better BC project when they optioned to Richfield, and they are now starting to work it up again (finally), plus they did get some centrally located Yukon claims fairly early and then optioned more and are working them.

They have been in their areas fairly long and made it through the big downturn, so they know how to manage costs (good given their commitments to maintain claims and options) and they are finally financially able to start working their properties again.

SQI is a long-term for me (for now) with a zero-cost holding. I may expand depending on their field season and pace of the JV, but expect an underlying long gradual uptrend for them with potentials for some big spikes. Their 25% JV is a big game changer in their mix.

Just my opinion of course, do your own headwork.


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