Re: Is it time for a change, my brothers? Not Now
in response to
by
posted on
Nov 11, 2011 03:00PM
(Edit this Message from the "Fast Facts" Section)
EvanG : I can see your intentions are good , but you may not be aware of the Share Buy Back Plan . SFMI has a stated plan to buy back it's own shares on the open market with 15% of the Gross Sales proceeds from their Gold and Silver sales . Early this week 400,000 shares were purchased at .06 cents each.The total cost was $24,000.00 which I calculate was approximately 15% of the likely proceeds from selling the first 136 ounces, and the press release indicated the buy back plan was initiated , thus I'm pretty sure this was SFMI's first purchase under the buy back plan . 2 more shipments are due soon, and if they are 1500 ounces each a lot of cash will be available(millions) to buy a lot of shares.However if we get impatient and start promoting as you suggest we could drive the price up to a much higher level and thus be able to buy back many fewer shares. Thus I suggest you just cool it and be patient, as they pour, ship ,refine and sell more Gold, the price will rise, the outstanding number of shares will reduce and we become more & more attractive for a buyout by the BIG BOYS ie Barrick, Newmont, Kinross our neighbor etc. It is far more beneficial to SFMI and the stock holders to attract a buyout of $3.00 to $10.00 than to double , triple or even quadruple the share price . LINDY