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JW:
If you are accumulating more shares....that is great....that means that you support your investment making capacities and decisions. The fact that you buy shares at $0.20..by no means will relieve your financial burden of the current paper loss you may have experienced. If you believe in the property, if you believe in the management then you should be able to sleep just fine. Remember, less than 1% of shares traded hands last week...unlike the Facebook debacle...where 130% of shares traded the day after the IPO. Long SLI........sleep tight.....
1OD:
Thanks for digging deep in the archives with respect to Mennell. Living in close approximity to FALC, our town and trades people have benefited from the early exploration of Shore Gold and Debeers over the last 15-18 years. When the stock peaked at $8.35, the word on the street was "It is going to $12". Nipawin, Choiceland, Prince Albert were going to see large expansions in both resource companies and housing developments....and then the slow decline through $6, $4, $2 and trading for two bits. We all know the diamonds are there......whether or not SG goes to open pit mine is highly questionable.
I haven't figured out why Debeers hasn't taken a position once again....even if it is to shut down the possibility of a future world class mine. With the ease of access to the mine..mining here would be economically more feasible as opposed to in the NWT. The shares are continuously on sale.....and SG doesn't have the cash flow to expand their research on the Star Orion project...
Sculp:
You deserve a gold medal, hopefully mined from our peruvian properties, for keeping an upbeat attitude on this forum. We all have rolled our eyes, slammed our keyboards, and questioned our reasons for investing in another junior exploration company when the stock price isn't supported by the market. Are we over diluted? MAYBE. Are the directors too preoccupied with expanding other avenues? MAYBE. Does some of the spinoffs make sense? MAYBE/MAYBE NOT. For your countless hours, DD and support to investors whom you mostly not know.....my hats off to you. If we cross paths one day..i will be the first to shake your hand and buy you some cold beers...3 Cheers for sculpin....HIP HIP....
Can Menell help gain the trust of investors and raise more capital to move this venture forward? The world consumption of diamonds in the last five years has depleted the reserves by 20%. It's now or never for Shore Gold! Perhaps some of Menells contacts with bigger industry and his experience at DeBeers will gain confidence of the investment community. Good Luck to Menell............
Stock Symbol: SGF: TSX
SASKATOON, May 14, 2012 /CNW/ - Kenneth MacNeill, President and CEO of Shore Gold Inc. ("Shore" or the "Company") is pleased to announce that the Company's Board of Directors has appointed Mr. Brian Menell as Chairman of the Board. Mr. Menell joined the Company's Board of Directors on March 7, 2003.
Mr. Menell is a principal and the CEO of the Kemet Group. Kemet is a group of private companies which invest in and manage a range of mining and other natural resource projects across Sub-Saharan Africa. Mr. Menell has over 25 years of senior level management experience in the diamond exploration, mining and marketing industries. He is a former executive of the De Beers Group having held various executive positions in Antwerp, London, Namibia and South Africa across the mining, rough market management and diamond trading divisions of the company. Following his eight years with the De Beers Group, he returned to his family controlled Anglovaal Group were he was a principal and Executive Director of Anglovaal Mining (AVMIN - listed in Johannesburg and London) until his exit from Anglovaal in 2001 to create much of what is now African Rainbow Minerals, South Africa's largest listed empowerment controlled mining company. Anglovaal's operations ranged from Precious Metals (AVGOLD, Two Rivers Platinum) to Base Metals (Prieska Copper, Nkomati Nickel) and Ferrous Metals (ASSMANG). Through Anglovaal, he was also the 50 percent partner of De Beers in the Venetia Mine, South Africa's largest diamond mine. He managed the sale of the company's interest in Venetia to De Beers for $600m. This remains De Beers' largest single acquisition in their history. Since disposing of the controlling interest in Anglovaal, Mr. Menell's African project development portfolio has included a number of diamond exploration and mining ventures, including the development of the Koidu Kimberlite Diamond Mines in Sierra Leone.
President and CEO, Kenneth MacNeill, states: "Brian's extensive experience in the diamond industry is a great asset to Shore and we look forward to his leadership of the Board of Directors. Mr. Menell assumes this position at a pivotal time in the diamond industry and the Company's evolution from an exploration company to a potential world-class diamond producer. Shore is presently focused on the completion of the Environmental Impact Statement and the permitting of the Star - Orion South Diamond Project, while simultaneously pursuing development capital."
Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Exchange under the trading symbol "SGF".
Joseph Dickson, Investor Relations Manager at (306) 667-3505 begin_of_the_skype_highlighting (306) 667-3505 end_of_the_skype_highlighting and www.shoregold.com
Stewie:
I like your train of thought.......I just can't get my head around investing VC in a secondary company when there isn't enough cash flow to concentrate on current exploration ideas. VC money should come from a Major whom would licence to other endusers....not a new start-up....
Junior start-up companies are being liquidated daily.....
Fitzy