Damage Control
posted on
Sep 18, 2010 12:43PM
(Edit this Message from the "Fast Facts" Section)
Looks to me like SFMI needs to do some major damage control before the opening bell on Monday morning or there is going to be a massive dumping of shares. When the company puts out press releases stating that tons per day are at 140 and getting better all the time and then states at the SHM that tons per day are 40 - 70 tons per day it does zip for your credibility. Further, when they don't state the recovery rate and don't answer questions it leaves major doubt in shareholders minds, mine included.
To be honest I'm considering dumping all my shares in SFMI and GHDC and if I'm thinking it others are too.
Recovery rates are a major issue that needs to be addressed. I've seen many mining operations fail because of uneconomic grades. If they are fine tuning at 40 tons per day prior to ramping up to maximum recovery rates it leads one to believe that they are not getting the results they expected. This can be caused by a wide variety of factors including' grades, milling process, equipment, etc.... So, what is it? At this point I cannot believe that this information has not been reported. Or is it that I have not heard it yet? Either way, my thoughts are the same and damage control should be first priority.
My first impression of the the SHM is that it is not coming close to meeting expectations and unless I start hearing a lot more positive information before Monday morning I'm bailing......
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