The current share price is another example of how the market can carry things to a hysterical, irrational extreme to the point of utter absurdity. Here you have a company with x amount of resources with much more to come as the vein systems have only begun to be explored, a substantially built up infrastructure, on a paved road, access to unlimitted water and all the reasonably priced power they need, and in a safe jurisdiction.
They could today scale back mine development to a more measured pace, scale back to a much more limited exploration program and mine 80 thousand ounces a year, increasing gradually to 100 and then 120 thousand ounces a year as mine development progresses and be cash flow positive from the get-go and do this for the next fifty years. I'm not saying they should, just providing some perspective.
What's frustrating about the market hysterics is that there are now companies out there with less resources in remote locations with all of their permiting issues and development costs ahead of them and that may never be mines with market caps approaching SGR.
Efficient markets my a--
