Oh well.. I grabbed a few of these sub 8 cent ones today. Not many, but there wasnt really many there tbh.. Thanks whoever gave me them anyway. In for a penny in for a pound as they say. I took one for team etc..
Apart from obviously PTSD levels of market sentiment I cant see what has changed here to deserve the current beating that the share price has taken. It's nearly all been good news since they were 16 cents a little while ago and 22 cents before then.
Gold price is up hugely, supercharging the potential appreciation of any discovery or corporate action on that front. OK i suppose the nickel price has been eviscerated for the meantime but I dont think a lot of people were particularly here for the nickle potential alone, esp once we were granted the fosterville ground anyway so I doubt thats the issue. The first results from glenlogan didnt blow the roof off.. Maybe there's nothing there or maybe its just the first step in a methodical search that will prove otherwise. The jury is still out on that one but regardless, 1 hole does not maketh a drill campaign (hopefully). Either way it was good bang for the exploration buck in terms of risk reward so in the abscence of a crystal ball I'd back the decision to do it every time.. I trust this team to make the right decision. They have plenty of skin in the game too.
Before we even had glenlogan we had a much higher SP and everyone was relatively happy and positive.. Well, as much as they ever are in this festering cesspit end of the market anyway. Since that time time we ditched most of the burdon of managing Aarnivalkea exploration from the other side of the planet but retained good upside to it, pocketed 1.5 mil cash and 7mill or so shares if Im not mistaken and gained some more ground in the victorian gold fields. Also advanced Fosterville, which is still at the very early stage of exploration but has already shown some promise. We havent hit the motherload yet but we got some good results and I think wisely chose not to get distracted and chase those little exploration red herrings but instead stick to the big picture plan and keep on hunting for the whales instead. Its a work in progress but in my eyes has in no way been materially diminished in its potential since the days of the tenement being granted. I think we've hardly scratched the surface there, Certainly nothing to cry about anyway.
The other projects, however exciting seem to be slightly on the backburner but are still progressing as detailed in the recent announcement and have given no reason other than the nickel price slump and crappy sentiment to be put off them really.
In addition to that, we have no fear of an imminent cash raise and plenty of upside.
Why am I waffling on with all this bullshit? Probably trying to justify my actions to myself if the truth be known.. but well, not sure who said it, probably many people in essence.. Might have been Rick Rule I think.. but the guts of it is if you liked a company at a given price, you should love it more at any price less than that if nothing has changed.. Especially at 7.8 cents, in the case of S2R, so I had to back myself and buy a few more. If I dont have the plums to do that, Id have to ask why am I still doing here anyway? Will do the same again probably.
Chin up anyway folks.. Its not easy watching this current market shit show but it never lasts for ever, even if it seems like it is..
Poodle
S2R Price at posting:
7.7¢ Sentiment: Buy Disclosure: Held
(20min delay)