While at the medical center 10 hours/day with my bro' [they will operate to repair his heart this week and the body trauma will be the threat], I was able to take detailed notes from all said at the ASM thanks to the great video.....very little I did not know or assume, but the PQ "posturing" was interesting. The salaries for both SFMI and GHDC [especially GHDC] are still insulting and the "Compensation Committee" seems like the fox guarding the hen house. Still, all the key questions were asked and mostly not ducked by PQ or CQ.
PQ expressly stated, "Mistakes have been made and corrected and we are working maximum hours each day to do what we originally said we would do". While that concession does not fully appease shareholder $$$ damage, other than the poor share price action today thus far [both SFMI and GHDC down 10-15%], this falcon has very likely pulled out of the nosedive and wings are getting some choppy uplift for flight. It's not a train leaving the station any longer as the rails were worn away from returned starts, but we now do have a falcon leaving the nest.
What happens with pricing later today will set the tone for the week as we see the same pattern of weakness for most of the day before buying appears the last 90 minutes. For sure there is no rush into these stocks today, and we really dont know how much of pricing is market maker driven. For sure the public is not rushing in to buy...a 337 million share float that needs to "float" higher!
I am more realistic about timetables, but do think they will beat Feb 1 for DRILL TURNING by a month or two, and felt generally that they were purposely wanting to make sure timetables not again delayed.
Other than poor share pricing, I am generally very optimistic and believe that by start of 1914 start we could be sold.
The doray shipments thing is still very murky, and the issue with "an individual" [former contractor Bill Earll?] dumping million of share against legal stated intentions, this issue is also murky and ongoing with litigation.
ALL IN ALL, A. Simon seemed to sum up my bigger picture assessment, "I have invested in SFMI because my people have convinced me this could be a 'major score'. It was not initially my 'bag', but after time with P.Q and seeing the progress here over the last TWO MONTHS, I will do everything possible to help them"......pic
