Re: JMHO
in response to
by
posted on
Oct 31, 2009 04:27PM
Digger,
You're right that the 30 cent valuation from a split would represent a 'hope' rather than a true financial valuation.
I am not sure that this Kazaa is talking about your mention of the consulting fees.
For your point, an explanation is certainly warranted. A monthly fee of $5,000 each would be worth explaining to investors in addition to the extra billing. I just hope it is the case of just forgetting to mention all the work that is involved. Regardless, there will come a time at the AGM for us to confront those issues If things pan out positively for us, then I would consider it a justifiable expense.
Perhaps we should be looking for VALUE from those fees right now. Lets look at some examples of how VALUE would manifest itself:
1) A technical 43-101 report from Marudi mountain highlighting resource and reserve values
2) As was indicated in a response from the company on agoracom, further financing from the GSR JV for 5 star.
3) Progress at Whana/GSR/Black banana. Progress would include, geochem, sampling, TRADO drilling and/or a few WELL PLACED diamond drill results (that is key).
4) The start of Alluvial mining operations by REXMA at marudi mountain. Income from this activity would allow expenses to be paid and diamond drilling at Marudi.
At this stage, I do not question the motives of SMH management, as I am a long investor and beleive in the potential. Should the company plan take too much of a deviation in the near future, don't worrry, I'll be the first to question. However, I do question negative postings such as those by Kazaa (I suppose if I actually heard a positive comment, that might change).