SAU (ASX) London

Originally posted by rhyolite ↑

I've been keeping tabs on Southern Gold and their South Korean adventure with BMV for a while, and reading a lot of the relevant threads on HC. I've been trying to keep quiet but it's getting more and more difficult.

Seriously guys - unless Southern Gold and BMV are happy with some two-bit operation that will never guarantee them any profit or set the share price on fire, there is a LONG way to go in South Korea. A modern, commercially feasible, profitable mine requires things such as economic drill intersections (so basic, yet I'm yet to see these), a mineral resource (JORC 2012 or NI 43-101), geotechnical studies, metallurgical studies, environmental studies, a pre-feasibility study, the list goes on. All these are hugely expensive to do properly, and take years and years. If money is required from the banks, these are non-negotiable.

Sure, there is huge potential there. And it could all come to fruition. But I really have to shake my head when it's almost considered a formality these old mines are going to open up and provide a profitable source of gold. Gaining access to an old mine, finding some old ore lying around which gives you spot highs from grab samples, and seeing some insitu veins in the walls means almost nothing. Some of the BMV releases along these lines are bordering irresponsible in my books, and I think that's why SAU don't always spruik them to levels some here would like.

Do your own research, and educate yourselves! I've seen posts in here where people don't understand basics such as how g/t and ppm are exactly same. I would not be investing my hard earned in something where I have such little basic knowledge.

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Sau fortunes will be made or lost on the drill bit........... the same as it is for every Explorer. The fundamental difference here is Sau don't have to return to the capital markets year after year printing script for cash to keep the lights on. I encourage you to search the Asx for gold explorers that are self funded with our market cap and Soi and tenements. My only gripe is that we are not doing any drilling or exploration Simon should be more concerned with the sell side than the buy side IMHO
As for BMV, Colin Patterson was part of a team who bought the Apex mine in the Philippines for US $7M and sold it for US$200m. I am fairly certain that Bmv will not be approaching a bank for funding.
Good luck to all of us

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