im calling short term bottom, page-39

Your comment
"My opinion looking at the facts only is that the CEO is looking for a buyer. That is why he buys, has a share buyback in place."

More likely, its the exact opposite. He is the King on the chess board and the best way not to get taken over is to hide what the company is worth.

He is prepared to sacrifice a lot of Jacks on the board. The Jacks are represented by us. Even when they are sacrificed they are replaced by someone new.

I think he wants to continue the mushroom treatment until the ore is going through the mill.

When that happens the value will be known.

The reason the price is pegged is the big boys are tracking him in what is proving to be an endless chess game. If the big boys didn't think it was worth it they would not be playing either.

The real question is just how much ore is in the ground up there. Frustration is starting to show on most of the players.

He has successfully stopped anyone from knowing what is in the ground up there. That would suit someone who does not want to be taken over. If he was to announce what some suspect is up there would he still be in control.

Having said that the pegging has put him in a position where he is vulnerable at a five minute notice. Think of it as a chess board one wrong move and its check mate. If an announcement came out tomorrow as to what is really there and a TO was mounted immediately the TO price would probably be somewhere between 1.5 and 2 times the present price.

For those who have hung on for years that is not a good return.

I think he is hoping to one day put on the table, a mining licence, a contract to build the plant that is at a very favourable price possibly linked to a purchasing agreement, a huge increase in the JORC as well as deep drilling into some hot spots showing fabulous grades.

To achieve the above is almost impossible and good management is not about hoping it is about achieving.

Most companies go up step by step, one achievement after another. That is what SFR is doing. We are going up mushroom by mushroom, not only is this not a good management plan it is very dangerous. We have not been given a possible date for the revised jorc even though the drilling has been done. Most suspect the bulk testing is imminent. The share price is saying it's a long way off.