More Whys.....
posted on
Apr 17, 2013 12:03PM
(Edit this Message from the "Fast Facts" Section)
Why would PQ want a leaching system at a cost of $2 milllion dollars which is a year or so away when the flotation has increased the recovery rate from 20% to 90%?
Another 5% increase in recovery doesn't matter at this time when revenue is in dire need to pay off debt. Seems like a waste of money or is it another bait tactic by PQ Inc?
Even if revenue increased to $100,000 a month..according to PQ, we are going to have 15% buyback....what impact would 15% have on the stock? Absolutely none because PQ still hands himself, family and BOD huge share distribution at the cost of diluting the value of the company. Why would anyone invest in SFMI especially when the mining industry stocks are getting hammered?
I have come to another conclusion...money should be focused on the ore/sinker, debt and metallurgical lab than the closed loop leaching system.
However, according to the 10K....PQ basically says to the shareholders...go !#!#! yourselves..I will do as I will even at the cost of bringing this company down. This is my personal piggy bank.
Also, I like to add about either a joint venture or buyout. Since Goldland is in the picture...what draws a major mining co. having interest in SFMI? First off they would see PQ playing major roles in both companies and no miners on the BOD. Just loaded with nepotism. How would the deal be done so the joint venture or buyout company would benefit from bringing in $100 million or so without major risk and handouts?
If you talk to RK or listen to the rhetoric coming from the BOD...I feel like these people are selling ice cream in the middle of winter and they're telling us it's summer. JMHO
My advice to concerned shareholders...start hammering RK and PQ. Demand sound answers and enough of pipe dreams of buybacks or future mythological holdings.