Gooddoc- SRLM has a cap of 88 million or so and ours is about 35 million. Neither of us is profitable. and they're valued at just over twice what we are. That's odd... Hmmm? At .15 PPS though we would eclipse them.
Still SRLM has news releases with news like this one on the Sunshine Mine:
...is pleased to announce the completion of the initial phase of its surface exploration program at the Sunshine Mine. The Sunshine is the richest silver mine in American history with more than 360 million ounces of production over the past century.
...IP survey results reveal three prominent, open-ended anomalies that are indicative of vein systems typically found in the Coeur d'Alene District. Meanwhile, VLF and magnetic survey results show well-defined east-west faults bracketing the vein systems, suggesting the presence of additional mineralized targets. Further geophysical study is required along strike of the outlined vein systems to bracket the targets for a drill program scheduled for later this year.
And this on the Baroness Tailings Project:
The Baroness Project reportedly consists of up to 5 million tons of finely ground tailings with an average grade of 3.0 ounces per ton (oz/t) silver and 0.02 oz/t gold, yielding an in-situ total of up to 15 million ounces of silver and 100,000 ounces of gold. Estimated mineral recovery, using environmentally-friendly calcium or sodium thiosulphate leaching, is reportedly at least 60 percent, although the Company is confident that this figure can be improved significantly with additional metallurgical research. The project includes necessary processing infrastructure.
Basically this is about going after tailings and deposits using modern technology. It's not rocket science Doc; just straight-line calculations. It's also not fluff.
We, on the other hand get fluff. We have good results in Ukraine but no real results in Canada. So we are concentrating in Canada. Why? I don't know, but the political situation in Ukraine is so dicey that it took us 3 months to get test results from last summer, and they would only hand them directly to our CEO. I'm guessing that the investment community is filling in the blanks on the nature of that transaction and viewing our future there with some trepidation.
Here are some conclusions I've come to on that score. Those results somewhere else, say in Canada, would command a higher stock price. The fact is that the good results we have are in a place where the political situation presents a serious risk. I understand that risk is also an opportunity to win big, but that's because you assume risk, not at a premium, but at a discount.
When the political picture is clearer in Ukraine or when we have good results in Canada our price will rise. Until then, comparisons to SRLM are specious. They may not be producing but they are sitting on proven reserves by the ton, and prospective reserves that are just mind-boggling.
I don't pretend to have Eibbanker's analytical skills, but this is General Business 101. I understand that you won't respond to any of this except to suggest that you're real smart and I'm not, but then that's you. For my part I believe that you are foolish or dishonest. I'm leaning heavily towards dishonest.
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