hey
@kates9999Always good to hear your views
There is plenty of exuberance and excitement and so there should be but I am still in the "give the exploration program the time that is needed to show us the goods" camp.
Your August date coincides nicely with when I expect we may see first results from whatever the second rig is going to drill - and if necessary any follow up from MAD180 (the first hole testing the deep anomaly at Investigators).
Though we may get results sooner for MAD180 - and now knowing the secret that drilling was not going to start until 1st July - I use a conservative drilling rate of 50 metres per 24 hour shift to full depth of 800 metres, plus allow for 2 days of something possibly going wrong, plus allow for 2 days of something actually going wrong - leading me to hope for news by 3rd to 4th week of July - IMHO anything before that is a welcome bonus (don't bother doing the maths - exploration is exploration and you will only go crazy if you sit on the edge of your seat coming up with dates of something you HOPE will happen by)
I, like many others could not understand the reasoning for drilling MAD179 (but the company has far more information than us mere mortals)
I like your reading of the timing of the program from one of your earlier posts
@PetraPhysica - (A nice line of holes to test the deep targets over the coming months) and value (and thank you) your contributions to the SGQ threads
IMHO the bigger players will still be sitting on the sidelines (it is the same when you look at the buy/sell side on Commsec - those are not the serious players - the serious players only show their hand when they want to show their hand.
I was taking a step back and discussing just recently with a very wise gentleman/geologist/mining professional/experienced investor in junior resource stocks campaigner who we know here as
@helmenesh and conclude that.
- I do not class SGQ as a penny dreadful
- I class SGQ as a stock that us early faithful have identified as an explorer that has numerous prospects - and one of those prospects (Mt Alexander) has considerably de-risked our investment (and in my hopefully accurate recollection of John Prineas own words to me "Mt Alexander is complex and will take time to show us all of its secrets - but it has taken the pressure off - we know there is a project - what comes next is identifying just how large this system - or systems is - as there are strong suggestions of additional mineralised belts as well as the Cathedrals belt.
- This is enough for me to allow my investment to grow over time - but it is not enough for some institutions - which is when the real money will start to flow in to the stock.
- Institutions do not make decisions based on speculation (and what IMHO we are doing is educated speculation at this point).
- Institutions invest when all risk is gone and cold hard facts are presented - that is what their constitutions dictate - but when those criteria are met they can then invest (if they so choose)
I like this Warren Buffet quote
No matter how great the talent or efforts, some things just take time. You can't produce a baby in one month by getting nine women pregnant." – Warren Buffet.
We know that Mt Alexander is pregnant - the question is how pregnant - is it twins, triplets, sextuplets - and how big are the babies - only drilling will tell and a lot of it - and IMHO sooner is better than later - and I would much rather see more aggressive drilling - now.
The company knows this is a very complex system and discloses the information it is required to (but keeps its cards pretty close to its chest - so we only see a very small part of the story) - but it is a company that we trust the management - though we are frustrated that we still continually see delays in rigs getting to site and getting on with the deep targets that have been identified.
The company, I am certain, believes they will be able to show proof of significant mineralisation at depth in this campaign - but IMHO they do have a responsibility to the option holders as well as the shareholders - they know that many shareholders are option holders - and that many have bought options on market not just being granted free options as parts of capital raisings (some at 30 cents in Nov 2017) - many have been purchased.
I would be very surprised if there is an option holder who would not want to have at least 2 additional DD rigs drilling the deep targets NOW.
Those are the only things that will move the share price - (JORC and resource definition and studies et al are all very, very important for moving to a mining camp - but will take a lot more time - only the deep drilling success is what will make the share price move in the short term)
I am invested in other companies - and with the hint of mineralisation multiple rigs were on site within days. There are funds to do this.
The company has always been frugal and slow and deliberate.
Now there is the best indication yet that there are targets to be proven - let's prove them.
If you believe there should be more rigs drilling NOW please like this post (these threads are watched by the company), email John, talk to John, start another thread that says The time for more DD rigs at Mt Alexander is NOW
Or we can all sit and wait - and keep hoping.
Cheers and good luck to all invested
IO
