As a long time shareholder - one of my biggest duds ever, I've had to endure the glacial progress of this lifestyle company for 7 years - one BMV spokesman in a recent presentation which was supposed to 'excite the market' said they hoped to be processing 30,000oz per year within 3 years - FFS - they don't pay dividends in heaven last I heard.
Now, WGX has announced that it's sold the SKO plant to NST who have plenty of ore to put through it ..... which begs the question of what's the future of Cannon UG and its presumed cash flow to sustain lifestyles ?? SM certainly is in the Guinness Book for announcements that don't move that market - probably because they lack real substance?
Time for a BOD shakeup and to cut the staff deadwood.
Better to find a buyer of the assets so shareholders can get a one bagger than endless dreaming about 50 bagger potential. I need a 75c SP to break even but realise that not going to happen before I need nursing home care, so I support action now.
SAU Price at posting:
25.5¢ Sentiment: Hold Disclosure: Held