It can be very tough being invested in an explorer. Especially one that has been around for such a long time & has failed so consistently. Over the past 17 years more than $120M has been expended on exploration by Sipa. But they have yet to come up with anything that even slightly resembles an economic deposit. Punters would have achieved a better return by investing their hard earned into a pockie at their local RSL.
Sure an argument could be mounted that you have to be in exploration in order to benefit from a potential discovery. BUT consistent failure over such a long period surely warrants a rethink on the merits of being with this company. The only ones who benefit here are the employees & contractors.
I think the company mantra of looking for elephant sized deposits assists in having a ready excuse for consistently failing.
$1000 invested in 2007 @ $0.105 would now be worth $35.71
The last 16 capital raising's. A very clear trend here. Wealth destruction !
2007@ $0.105 2010@ $0.09 2011@ $0.13 2013@ $0.075 2014@ $0.035 2015@ $0.0725 2016@ $0.02 2017@ $0.012 2018@ $0.01 ( March 2018 ) 2018@ $0.0091 ( November 2018 ) 2019@ $0.0086 ( February 11 ) 2019@ $0.00672 ( May 02 ) 2019@ 1 for 12 consolidation ( July ) 2020@ $0.072 ( September 2020 ) or $0.006 pre consolidation 2021@ $0.059 ( September 2021 ) or $0.0049 pre consolidation 2022@ $0.045 ( November 2022 ) or $0.00375 pre consolidation
SRI Price at posting:
2.4¢ Sentiment: None Disclosure: Not Held
