Re: Anyone else getting tired(Jeff)
in response to
by
posted on
Aug 24, 2009 11:41PM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
Don't worry Rook ill let you know when im getting out, but by then you will already be a millionaire off SGR.
Even though i sometimes criticize SGR, i still have large faith in it.
I have about 50% of my investments in SGR, people say never to put all your eggs in one basket but i have had up to 75% in SGR and am thankful for it as i entered in the stock market about 4 years ago and im proud to say im currently about 20-30% up after 4 years even after the whole eco crisis. Not to mention trying to learn how to play the market and taking some pretty big hits because of it.
The only reason why i am up is because i hold a large part of my portfolio in SGR.
i have faith in them, and i have faith that "eventually" they will get things done. Ive always stated that my only complaint is that they set target that they can never achieve and that they should know ahead of time is not gonna happen. Like if last summer at the previous AGM they had told us they would release a 43-101 by end of next year (end of 2009) and that they expect to produce 15-20 000 oz or so for 2008 and that they hope to be cash flow positive by end of 2009. WOW i would have been impressed. i would be 100% invested in them. The problem is that they have been saying next month over and over and over the past 2 years. You'd think they'd learn but i guess its true you cant teach an old dog new tricks.
Now just because they cant hit their impossible targets doesn't stop me from investing. I stepped back and looked where they are and where they are going (where i think they are going and not what they are saying) and i think i even predicted way back 2 years ago on the old board that they would be around 3.00 around this time (that was assuming they where not CF+ and where producing under 50 000 oz, i had a few possible examples) anyway this was about the worst case example i had in my mind and i told myself even if this happens i still think its a good buy.
In short I'm trying to prevent people from setting their own expectations too high (based on what sgr tells them) so that people dont get frustrated or panic and sell. I think this is a great stock and will provide exceptional returns over time. I d love it to double overnight but hey if it averages 30% per year for the next 5 years how could i possibly complain with that either.
I think as a worst case scenario we would be around 3.50 this time next year. i can live with those returns. I hope all you can too.
Hopefully that clarifies my position on SGR if anyone thinks im a basher or a hater.