posted on
Dec 01, 2007 04:44PM
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Message: Re: AGM
You're right, tidbits - I have noticed the absence of production details as well. I was disappointed by the low amount of gold sales when reading the Q3 report. Then I started to think about it and realized that that was only the amount "sold" - production could be a whole different story, but they didn't tell us anything about that.
Looking forward to seeing you again tidbits and looking forward to meeting you wpgmoney! I am planning to hang around for awhile to visit as well.
Wpgmoney, writing out questions is a good idea - that way they don't get forgetten to be asked in the midst of the discussion. I am imagining that there are going to be a number of people there with some very tough questions. Afterall, there were things said last AGM that did not turn out to be as promised - e.g. no more warrants. There are quite a number of shareholders more than a little upset - their money has been basically idle for a whole year!
I am not that perturbed personally. I can understand why people might be frustrated, but reality is that things don't turn out they way we picture it in most cases. I started a business 18 years ago that we projected would break even after 2 years. We are finally seeing some light of day now after 18 years! I've been there; I know how things go. There are always factors beyond our control and setbacks. When you get into that unexpected situation, you end up making tough choices you didn't expect to have to make. So, my view is that they have not done so much that was wrong -- where they did err the most was to make statements like they did last year at at AGM that they were not able to fulfill. Better to not promise something than to promise what you cannot deliver. I've had to learn that the hard way as well through a few bad experiences.
As for the outlook - I am optimistic. Things continue to build. I think there is much more value there at Rice Lake than has been revealed. There certainly is a reason why Cohen, Goodman and others are buying up large chunks of SGR. Those guys aren't stupid. And they have taken the time to go and see the place to check it out for themselves. The details of discussions between Dale Ginn and Robert Cohen during the last visit would be mighty interesting to listen in on! Add the state of the US dollar and other economic factors relating to the value of gold itself, and I still feel that SGR will become a great investment. Once it does finally take off, this last year of sitting on a plateau will be forgotten. That's my perspective (JMHO).
But, I am looking forward to hearing what they have to say on Monday - I just wonder whether they might pull some surprise rabbit out of a hat at that time. If I were one of the Directors or Managemengt of SGR, I think I would want one of those at that point!
Cheers.
NorthLion
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