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From a historical perspective, its interesting to note that SGR share price has now gone full circle in eight years; I started investing at $0.20 and here it is again. Difference being that the share structure has changed dramatically, but then so have discovery aspects of the deposit. If Sprott is correct and gold price marches on to $2400 over the next year, then San Gold is in a position to profit demonstrably if it can continue to produce at 85-95,000 oz annually. So the real question is, despite grade, financial and management issues of past, can the company achieve its production target? I would appreciate everyone's objective feedback, as this may be another ground floor opportunity. Current volume suggests that interest is building again.
If memory serves (and this goes back 3 or 4 years) they did punch a couple of holes down from the 2600 level. This data has never been reported and is of particular interest given G's success at depth. Anyone else recall this event?
For my money, MUX is one of few mining companies that I would consider today. The reason being that McEwen has a personal stake backed by share ownership and the expectation that his reward will also be obtained through share price appreciation. In my opinion, further investment in SGR will only lead to more disappointment in the short-term, as the shorts are blatantly in control. As it has been pointed out on this forum more than once, the rules of the game have changed, what worked years ago is no longer valid; one has to adapt or suffer the consequences of using antiquated rules. It is abundantly clear that present management has no interest in shareholder value.
July 20, 2012, at 2:35 pm
by Jim Sinclair in the category General Editorial |
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My Dear Extended Family,
Investor’s Spring. Freedom at last!
You know that I have spent a good part of my life in an attempt to better understand the human experience looking for purpose. I would like to share with you a short conversation I had with Sai Baba in India in 1986. He said to me "What would you do if I made you a warrior?" The room was full of spiritually liberal people. I answered "make great war." There was a collective gasp by the attendees. Sai Baba said, "Right Answer, Sinclair."
Nobody wants war, but if it comes your way, and is your duty to pursue, it must be done, and done well. This war has been brought to us by those that would profit by destruction in clear violation of common commercial code.
These demons do not just short a situations based on a premise and await profit.
They pound mercilessly on the bids, seeking to depress the price.
They sell short the shares index and other funds buy as a means to get large numbers.
They immediately start dirty tricks.
They turn you in to regulatory bodies in the area of your trading and in the country of your operation on constructed nonsense.
They seek authors to write negative articles from their imagination to insult your integrity as a company not only where you work, but also where you trade.
They pay people to adopt a multitude of nicknames to post horrific lies about you personally and your company on chat boards.
They have a trading campaign to sell every instance of good news you have.
They have a trading campaign to sell your positive closes within the last 30 seconds of the trading day.
They enter orders with brokers who know what they want to happen in sizes larger than the total average daily trading to sell at the market on the close of Fridays.
They trade other exchange listed shares on the NASDAQ out of line with the listed close to skew the closing prices to the negative.
They actually paint the charts with their trading to make your situation less attractive technically.
These are only a few of the standard dirty tricks they execute in order to profit from these illegal acts to profit from the short which is the fruit of their crimes.
Their offense is violation of common commercial code. The short is simply the means of illicit profits. I do not intend to preach to you, but rather lead by example.
Your job is to get the attention first of those that are the management and directors of the companies you invest in that have been manipulated. You may have to be strong in order to accomplish this.
I am obligated in my corporate position to defend the company to the limit of my ability. I am obligated to say no, not on my watch. I am obligated to use all means, including litigation, to protect capital value on behalf of the investors. If I failed to do that I would be liable to you. This is true of every investment you have, not only precious metals shares.
Step one of "Investor’s Spring, Freedom" is to raise hell with the management and directors of your investments to take action to protect your interests from illegal and unethical activities. Tell them remedy exists in common commercial code moreso than securities laws.
I will let you know what I am doing as I do it. I will lead other companies to protect you by example.
It is up to you to do one simple thing. Wake up this bunch of brain dead office decorations, professional campers and rock hounds and get them to follow me in my march forward.
Respectfully,
Jim