SF was always high risk, they took a punt with shareholders cash and lost the lot and are now in debt. Crazy!
In my view they do not have sufficient working capital to continue mining SF without a CR. Remember the feasibility study assumed a decline with bulk mining, once you go airleg with a decline the AISC rises a lot.
Who ever made the call on SF should walk. This transaction destroyed shareholder value.
Lets face it they blew it. Very few juniors ever succeed. By and large the only ones that do own their own mill!
AWV Price at posting:
3.2¢ Sentiment: None Disclosure: Held
