1.5, looks like everyone finally realized the truth behind this farse company. I traded this stock a few years ago and made a few bucks then accumulated over 100k shares this past summer. I loved the chart and believed everything in the PRs and what I was told over the phone. I even got several friends and family members into it. They had a silver property in Mexico that was supposed to be going into production soon and also property in China scheduled for production in Q2 2011. They hired some seasoned mining veterans (supposedly) and talked about getting listed on the Toronto stock exchange. This would all be a very big deal IF IT WAS TRUE. Check this out...another company came along and stole their Mexican property from them...bought the title from a third party which SDRG claimed to own since 2006. They assured everyone that they had the land and mining rights and that they sent lawyers down to Mexico to straighten it all out and a PR would be out "within a week". That was the first week in November.
The other company then released PRs saying they raised funding for the property. SDRG again assured everyone that they had the title and all rights to the property. They said nobody can even walk on the property, nevermind mine it. Then the other company issues a PR claiming they now own the property. Still no comment from SDRG. They said their lawyers would not allow a statement yet. But wait it gets better. A little over a week ago all shareholders received a notice in the mail from a group of Chinese investors suing the company. 14 very serious allegations of fraud, embezzlement, money laundering, you name it. Come to find out the CEO, Marc Hazout, is a convicted felon for assault, kidnapping, and extortion. It's been over a month and they still refuse to comment on the Mexican property...still saying the lawyers won't allow them to comment....AND PEOPLE STILL BELIEVE THIS CHIT!! Is that something else or what? I bailed at 19-20 and tried to tell frankie and others but ya know how that goes. I get accused of being a basher looking to pick up "cheap" shares. Sound familiar? lol Now it's all my fault. Go figure. I do feel sorry for everyone who held on though. The company did look very promising if everything wasn't all B.S.. I think the felon CEO knew the ship was sinking and arranged for the Mexican property to be sold off and then pocketted the money himself. That's what everything is pointing towards considering this loser's background. That's what a crook would do.
I'm just glad we have an honorable man at the helm at our mini-Google. This Hazout creep will be doing time again, imo.
Don't even think about buying a single share. I don't care how low it goes. Hazout is the most crooked CEO I've ever come across and I've been playing juniors for a long time.
Sorry for being so blunt, frankie. The damage has already been done. The Chinese group blew Hazout's cover and exposed him. My comments before their letter to all shareholders had no impact whatsoever. I dumped everything and got all of my friends and family out before they got the notice in the mail. I do feel bad for those who held though. I'm not one to pour salt on a wound. I've been down this same road before and I know how it feels, trust me.
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