I have been a shareholder in SGR since the summer of 2007, and in SKP since last year. With respect to the “43-101" debate, it seems that there are essentially two views. One view is that given success of management to date in finding gold , establishing production, and giving evidence of significant exploration potential, the timing of the 43-101 release date is of little consequence. The other view is that the release of the 43-101 is important because it paves the way for a TSX listing with attendant benefits such as the possibility of borrowing against the stock, and attracting those who will not buy stocks listed on the Venture exchange, and the possibility, as a consequence, of a higher stock price.

I find myself firmly in the second camp, not only for the reasons I have identified, but because there is a remote possibility–and I admit it is pretty remote–that I would be able to forget the repeated broken promises by management and the contempt for shareholders thus displayed.

I spoke to the Investor Relations representative in the fall of 2008, an was told that the 43-101 was due in October. I spoke to Hugh Wynne at the PDAC Trade Show in February 2009, and he said they hoped to have it out by the end of March. I realize that a “hope” is not a promise–but most reasonable people would take from such a statement that it would be out before midsummer!

According to a company statement of August 17, 2009, quoted by Lunch Meat in
his post of Jan 8, 2010, “Soon:”
"The company expects to have an initial NI 43-101 resource estimate for the new discovery soon. Delays in preparing the document have been experienced mostly due to the rapidly changing discovery profile surrounding the Hinge, new data has now been cut off and work is being completed on the document."

Does this not suggest that the report is imminent?

In October of 2009, I attended a presentation in which Dale Ginn said the “43-101" process was being “buttoned down.” Again, not a promise, but doing up buttons is a late stage in the dressing process–it would not seem unreasonable to interpret this statement as “before the end of the year.”

In other words, I feel misled and manipulated by statements made on the company’s behalf. One prefers NOT to invest hundreds of thousands of dollars in a company controlled by those whose statements, very simply, cannot be trusted. To renege on an intention based on new circumstance is one thing, but surely prudence and common sense suggest that repeated promises and repeated rethinkings do no credit to one’s reputation for competence or integrity. A number of posters state that they have had amicable discussions with principals of the company. My point is–why would you bother talking to those who feel that words, apparently, mean nothing?