let me try and explain this as simply as I can for you; and any others that haven't grasped what is going on at this time.
Sney is an exploration company: they are looking for something.
So anyone that expects to see revenue generated before they become a mining compay doesn't have a grasp of what is going on.
To become a mining company and show production numbers and sell those production numbers the company needs to be current without a CE.
So what we see now is an exploration company, who for what ever reason decided being current was not as important as figuring out whether it was worthwile to mine for minerals in 2 countries in Africa.
After months of delays the company has decided that the stock piled minerals they have accumulated for a year or so are at such and such a quality/quantity that it is time to get the paperwork up to date and mission statement changed.
Why would some jr miners waste the time and money to get current and change their mission statement?
Because the find in at least one of the 2 countries has reached a point where it was cost effective to get the paperwork done and start selling some ore; and pay the "taxes" in SL.
The K that was filed on Monday is the second to last piece of paper that needs to be filed to get current and the CE lifted, before 2nd Q 2012 is due.
I don't expect to see revenue generated in the last piece of paper we are waiting on either.
However, what I am betting on is that once current and the CE removed the company will file paperwork to uplist/change mission statement and sell some ore, generating revenue.
Because of the time line it is also doubtful we will see good finacials for 2nd Q, but we should see a break down of what ore is being sold with a break down cost effectiveness in a couple prs either before or soon after 2nd Q is filed in August.
So yeah you are right in your assessment, but what most who have been following the progress of the company believe is down the road is sooner than you think it is.
I should point out also that at this time we are only talking about 1 of the 2 sites SNEY is currently exploring for minerals.
So though you might see it as pumping, I read it as some people specualting on how good the reports coming in the next month or so are going to be.
So either buy some shares and jump on, or go find another board. ;)
