A little bit of everything (SFMI)
posted on
Apr 19, 2012 11:57PM
(Edit this Message from the "Fast Facts" Section)
Where are SFMI Dore Bars? Where are they stored? What's the inventory? (PQ) said they have been stockpiling for future shipments? (RK)(heresay maybe) said they are sending a 1000oz dore bar to the refinery every month?(1000oz dore bare= + or - 650 oz AU & 350 oz AG~~per say 650 oz au x $1600=$1,040,000 + 350 oz ag x 30=$10,500).(Cut estimates by 1/3 based on lastest recovery rate and SFMI is still making money??)Is the refinery holding our gold inventory for SFMI coins or when PQ thinks the price of gold is to his liking? Where is the MONEY going? Operating expenses at the last SFMI shareholders meeting was stated at $4000 a day plus another $1000 a day for admistration costs, for a total of $5,000 a day or appox. $150,000 a month. 10K reports only $174,000 for revenue for 2011. Is all this money (if true) going to Goldland? and why issue SFMI shares as wages and to contractors? Dultion of SFMI shares should be by financing drilling for WEM at this point not wages to the BOD. Somehow I see the BOD (PQ in charge) was driving the price of shares down so they could get could get the max # of SFMI shares for there yearly wages( awarded them selves for doing a good job). Did Goldland take SFMI shares in leiu of deferred payment on the lease? So many questions and no answers. Not addressed in the 10K that I could see is: that I believe a finished dore bar in inventory should be counted as as asset in montery value and reported to the shareholders in the 10K for 2011, if NOT reported on 10Q for 2012. I don't buy PQ excuse he gave us at the SFMI shareholders meeting, that it can't be revealed because of security reasons and so forth(his favorite quote). Please correct me if I'm seem off-base. Haven't posted for while, but needed to vent. GO SFMI, I still think will make it, a strong pps should be awaiting us for before the up coming shareholders meeting in Sept., if not it will be a very interesting gathering of investors. PQ has a plan, I just hope the shareholders are included. Good PR (meaningfull) would help(not buzz words that go nowhere to help pps). Alot of unaswered questions, 43-101, TSX, new BOD, mill expansion, smelter/valut completion, etc. No reported completion date has been been meet, that I recall.