Re: Don't like this much
posted on
Jun 08, 2012 11:45AM
(Edit this Message from the "Fast Facts" Section)
Pic- No, of course I can't have it both ways. But I do reserve the right to evaluate objectively (which I think I do). And I don't think that these convertible debt arrangements, plus warrants, are the best they could do. I would reserve this type of deal for someone who comes in to fund the entire operation, not just bits and pieces.
"The shares issued will NOT MATTER!!! I have been there and seen that. Have you?"
Yes, I have seen that. And the shares issued do matter. We're already at well over 10X the number of shares there were when I got in, and when milling and revenue (and profitability) were "imminent". Even the recent dilution to feed the Q's made a significant difference. And yes, I do realize that dilution is a necessary evil, but not to feed management, and much of the dilution wouldn't have been necessary except for management mistakes and incompetence. Not to mention again that I think the sp would be higher (and the required dilution less) if management had been honest.
No, we can't change what has happened. But most of my criticism is directed towards present and ongoing problems.
"Do you actually see any damn good thing here????"
Absolutely. I think the resources present in WEM will overcome any effups by management (though they are really pushing it- how much longer can they go without drilling results and with the mill running at a loss?). I just hope they don't push it to the point where they are forced to sell or give away everything at fire sale prices.
"Let's try to be more positive, PLEASE!"
Believe me, I'm trying. I've been one of the biggest defenders of this company. Unfortunately, too many times I have defended them and ended up feeling like a fool when what I defended turned out to be either a lie or weasel words. I'm not going to do that any more. I'll defend the potential of WEM against any one, and I'll defend the obvious and undeniable progress that SFMI has made (despite the missteps). But I won't defend or promote anything based on rumors or something that has yet to happen. And when there is news or activity, I'll look at it objectively and voice my opinion. And when positive news such as permits or drilling or assays or significant revenue or increased mill efficiency comes out, I'll be first in line with glowing words. But it's up to SFMI to produce first, then I'll applaud.