Another IW post on IFLUB
posted on
Mar 15, 2011 07:30PM
(Edit this Message from the "Fast Facts" Section)
I'm a trader, but I'm also a long holder of SFMI.
The messages of the chart and of the PR, in my opinion, are very good for us.
But do we have proof already?
Is proof the certainty represented by officially filed paperwork and PRs about such things as drilling programs having been begun, or is proof actually suppled by the things the pictures show and the committment of up to 7.2 million dollars at a mere 3% discount by professional investors?
What is the real world telling us about what the working definintion of what is "PROVEN"?
Is it actually true that nothing has yet been proven?
OK... if nothing has actually yet been proven.....
.... explain the the new equipment that each set of new pictures consistently shows.
Just tell me how the machinery & equipment running around the yard... shown clearly in picture after picture....
....explain why we are not plainly seeing PROOF? Why isn't the new machinery & working equipment proof that SFMI is a solid company working systematically toward its stated goals and making considerable progress?
Why insist that forms and reports filed with governmental authorites are to be considered the only legitimate PROOFs when there is physical evidence in abundance in the form of equipment and new buildings and newly appearing machinery?
Key question: what is the actual definition of PROOF? What the official SYSTEM graces to grant us as being legitimate or what out lying eyes (LOL) are clearly telling us?
Just explain why seeing is not believing.
Explain the running mill. Prove it isn't PROOF, in and of itself.
Explain the pictures. Loads of them. Each new set showing ongoing progress.
Explain the piles of pipe.
Explain the road with trucks driving it, in both directions.
Explain the graded road with the weight station.
Explain the security fence.
Explain the ever increasing piles of ground up rock.
Explain the additional buildings that are showing up regularly.
Explian the front end loaders driving to and fro.
Explain the 18 wheelers and their trailers with complex machinery on them.
Explain why my lying eyes are not seeing catagorical, emphatic, declarative, definative proof of life and success and progress and so forth. Explain why nothing but official filings and accounting minutia is to be considered to be legitimate reality.
And explain the 7.2 million dollars COMMITTED here.
Committed without a 43-101.
Committed without assays on the piles having yet been released.
Committed without drilling programs having been done.... no, correct that: explain the 7.2 million committed without drilling programs even having been begun!!.
Explain why professional investors are making a big mistake for having plunged in without any of the offical paperwork having been done.
Explain why the large dollar amount that these guys have committed doesn't fully buttress the thinking behind the conclusion that SFMI is a tremendous investmentopportunity.
Explain why the very act of them having jumped in with both feet.... explain why that in and of itself is not definitive proof of the legitimacy of the enterprise SFMI is engaaged in.
Explain why actual, photographed, real physical things are not proof.
It is pretty darn obvious to me that this bunch of professional investors, by having committed 7.2 million dollars to SFMI without a shred of paper that "officially" legitimizes this stock's endevours and its progress.... it is pretty clear to me that this bunch of professionals have fully disproven the argument that only officially filed paperwork is the only legitimate form "PROOF" can take.
I mean.... no drilling done, or even started.
No 43-101.
No assays of the piles.
Apparently, this bunch of professional investors has all the proof they need. Apparently, as far as these investment professionals are concerned, PROOF is not limited to having the format of official paperwork, scientific reports, and accounting minutia.
And the fact that they have committed to up to 7.2 million dollars at a mere 3% discount ought to serve to convince the world that there is value here far greater than the 7.2 million they have committed.
And I fully agree.
And I think that the pictures we regularly see of all that equipment being employed and all the building getting regularly accomplished.... I think we should all grant that what our lying eyes are telling us is proof positive.
We are beyond proofs, at this time, IMHO. The fact is that the officially filed forms and reports and minutia that will soon show up will not be proofs. They will be CONFIRMATIONS. They will serve to CONFIRM, to these investment professionals, (and thus to the rest of us) what is obviously considered by them to be already sufficiently proven. After all, they proved they think this sufficiently proven by committing to the 7.2 million.
Thats the main idea: what we are looking for in the reports, the filings, and the accounting minutia is not proof but CONFIRMATION of what has already been sufficiently proven by physical realities that are readily available and that are sufficint to have fostered a substantial investment by professional investors.
The assays on the piles will CONFIRM what I see as already proven.
The drilling program will CONFIRM there is tremendous mineralization that is accessible via the Sinker Tunnel and it will begin the process of defining it.
The 43-101s will CONFIRM there is tremendous mineralization and will serve as the necessary industry standard for affixing a buyout value to the company.
I think the 7.2 million dollars committed by professionals at a mere 3% discount is itself proof positive.
All the paperwork that we will begin to see get "officially" filed this year.... it will merely CONFIRM what our lying eyes already know to be the proven and established truths of vast value in this little, high risk JPM company.
Simple as that.
Thats my opinion, and thats the way I see it