Ann: Quarterly Activities Report, page-255

Maybe Esra, but Bruham makes a good point because many people take things on face value and could interpret the comment as a deception. They may think its a stupid comment that has the potential to devalue the price when they hold. Or they may think the holder wants a lower price to buy more. Or key personnel on legitimate leave could be the reason for the delay. We don't know because it has not been verified from another source. But this would not effect the mandatory reporting schedule which Peter has delivered himself in the past and is adhering to.

People can have varied perspectives, but the bottom line is, determining the value of the stock as a holder. Those with inside knowledge of a potential capital raising wouldn't want the stock price to rise either, because it forces the company to raise at a lower price if they want to accumulate.

So why would someone diss SPQ if they intend to hold and not get out? To do so does not make economic sense in a trade scenario when facts have not been determined. The sarcasm is misplaced in a market place if it hits your own back pocket. Good trading or investing always protects capital. Smart operators would have fed the stock out if the intention was to quit based on the TA or inside knowledge if they sought to minimise exposure. Many set stop losses at 7%- 8% and build that into a profitability scenario based a diverse portfolio which gives them many re-entries on the same stock or others where the bottom line would be break-even but the probability for profit is greater. That's sound risk/reward capital management basics interpreting the TA.

Right from the outset, I have commented that SPQ is a long play and I have been conservative as to my valuation until the facts are determined. We await results, the company has not slowed its operations on the ground. It is a similar scenario holders of RNU are experiencing waiting for an announcement that has been months in the making, yet their program remains on track. This is stoked by fear in the world and our place in it. According to Buffett, that is the time to buy.

Lots of strategies at play by different stakeholders.

I agree with you, that any raise will come after an announcement because it is more likely that a raise can be made at a higher price. I still think Steam Engine gold will have a component of toll treatment to get the ball rolling. Any raise will be a catalyst for growth given the size of the porphyries. It should be minimal with JV's. But that is speculative opinion and has not been announced.