posted on
Sep 28, 2011 06:53PM
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Message: Not impressed
Garrick
I understand what you are saying and those are all nice advantages, there are many advantages SFMI has to help them become successful. I have never stated anything different as regards to what is on the mountain. And, I don't think I'll re-hash any old arguments but to continue to overlook the huge amount of debt, and that's what it is no matter how anyone wants to spin it, is very risky and short sighted.
I want SFMI to succeed. I want everyone here to have their dreams come true... It would be the greatest thing to ever happen to my kids in their lifetime, but I still am worried about all the debt that will have to be repaid sooner or later. It is a lead weight around the pocket books of investors. We all want the share price to be higher, we all want it to happen tomorrow but in my opinion it will not until many things happen. The most important is revenue and profitability.
How many years will it take after SFMI begins extracting ore and selling it in the open market will it take to pay off the deb? I'm not saying the share price can't go up until then but I don't believe we will see north of .60 or .70 until then. How much dilution will have taken place by then...
I don't have a crystal ball and have only experiance to draw upon to guess at the answers but I would be remiss to not ask... wouldn't I?
Northern Star Mining had a great property with high value gold, by today's standards, they had good management and had a brand new mill. They had deep pocket investors who, once the mine went into production, turned on them and shut them down. That's the way I understand how the story goes. From what I have heard the investors will end up with the property, the mill, and the gold, while the shareholders were left with nothing.
I'm not the antiSFMI, I'm anti loosing money. I want all the information regardless if it's positve or negative. We can't stop surprises but I do not want a surprises just because I didn't have enough information or I didn't ask enough questions.
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