"Massively prospective ... " SMTM. Without confirmatory positive drill results, a JORC a mine plan and a plant this is just another breathless set of "historical results" that are a mere tease, and are not bankable !
Until there's something tangible, proved up and bankable ... no credit, no incentives due ... SMTM.
AS I predicted, there will be a snowstorm of announcements full of breathless possibilities between now and AGM time, to try and finesse the option package. Already HC posters are starting to meekly accept the pathetic logic that even though the snouts are in the trough, what can we do (?), BUT we lucky shareholders will be compensated in the end ( 5 years, 10 years ??) .... already one blogger has conservatively estimated that Gubong alone could be worth 250m pounds (A$500) to SAU .... LOL .... some me the drill results, show me the JORC ....SMTM. The only thing that's been positively confirmed is that large parts of the mine are flooded.
Spending future income is very modern but ultimately futile, but spending income that doesn't exist is insane!
Vote against the option package, and for board renewal. Perhaps a name change fro SAU to Pangloss Gold might capture the spirit of the board and its acolytes.
SAU Price at posting:
30.0¢ Sentiment: Hold Disclosure: Held
