re: Ann: Change of Director's Interest No... Gday Crimson,
I know a lot about Bob Besley, thanks very much, and I wasn't insinuating anything against him. However, the fact remains this IPO has stunk since day 1 and now they have had to acquire a new project miles away in another state to try and achieve growth. And with all the stock he already owns from pre-IPO days, him buying on market just a small portion IS a PR exercise.
Good luck to him and all holders but in this current environment (for resource speccies) it is a very poor look to list a company on the back of a particular project (silver/Broken Hill) only to then switch horses so briefly after your life as a listed company has begun to start chasing gold a state away.
These guys do not have the cash to be able to afford - nor justify - acquiring new speculative projects. This is hardly a resource boom environment we are in. I know that the other side of that argument is that blokes like Besley have a successful track record as prospectors etc so I can also appreciate how the true believers are willing to keep backing him.
In its listed life so far, things have not gone according to plan for SCI so you can understand why the jury would still be out....and why more stock is getting dumped this morning. The market clearly does not/has not shared the company's enthusiasm on the Broken Hill ore body and I am willing to bet we will hear less and less about it as we move forward. Besley's AGM address basically admits as much, hence the switch to chasing other exploration projects he talked about at the AGM (Note also how the Broken Hill project is relegated to slides 19, 20 + 21 of the most recent 24 slide Feb-14 Investors Presentation).
And while we are at....does anyone know just exactly who are the people behind "the private consortium" that hold the Sellheim ground?
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