Nothing has changed relative to my initial perspective in terms of what I saw in the potential of the DIRT...
Mines don't manage themselves, however...
When my DD shifted from focusing on the nature of the geology and the exploration potential... to looking at what management was doing, how they were doing it, etc., THAT is when things went south...
It simply doesn't MATTER what the value or potential in any of the claimed assets ARE, when the value that might exist IS NOT being properly developed, is being misrepresented, or is not actually attached to the shares in a way that ensures the value of the assets matters.... to the investors. Those are all serious issues here...
Stock scams ARE conducted that way... take some real asset, hype it, pump it up, sell shares... run the stock promotion... then collapse the story while also bringing the asset values back into the tight grip of management... That is exactly what this looks like to me... given what they are SHOWING you in filings, etc.
If they don't want it to look like that... they can make it not BE that... but, they haven't yet...
I'm still interested in the properties and the potential in the geology on War Eagle... but I have about zero interest in having anything to do with what this company is about. The dirt isn't going anywhere... although I judge the survival potential of the company is fairly obviously limited, with an obivous limit or two inherently included in the design of the plan the management is operating...
I've been clear that a look at the structure and how they've managed what they have, each show they apparently INTEND this to fail... on a set time line... with plans in place to ensure they will still succeed, succeed more as a result of the intended failure, and will improve their own position, while handing SFMI investors a failure...
It should be clear I have very little respect for them... given that is what is being postured here.
I've pointed out long before that they FAILED a basic DD screening process rather spectacularly... pointed out how and why... and while they have had to make some fairly dramatic changes in some bits of what was being postured... to avoid it being revealed as an outright flaming fraud... none of that basic concern has changed. The basic problem is the same...
I also pointed out some time back that when I do "commit" to doing the DD on any issue, I follow through. I'll be here to see the effort through... and we'll see who is right on the DD and who is not, by following this together until they deliver on the promise of this amazing success you are all expecting, or instead prove my take on the effort is correct... as they continue do what they feel they can do and need to do to try to avoid that result.
So, WHEN is the debt due ? What sort of $$$ do they need to be generating to make that not matter ? What has to happen for that to occur ?
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