dog, page-32

The danger is that the market has (or should I say, had) some fairly ambitious expectations for SVL (company partly to blame I reckon with their 28-54m oz exploration target announcement - or whatever the numbers were - all those months ago).

I reckon a (delayed) resource upgrade of say 50% to 15m oz would have hit the stock by plenty if it was still above 20c. But it's not, the selling has already happened and the temporary money has moved on already.

Those remaining will probably have to start thinking about a longer term time horizon due to the slowly deepening delineation of the oerbody (U/G mining anyone?). No doubt the grades are there and it looks like the sexy grades continue at depth, but we all know that the cost of mining open pit vs U/G are somewhat different.

I could be wrong. We could have a situation like CHZ today when an announcement refocuses investors attention back onto a forgotten story and we get a spike in the share price as a result. But somehow I don't think so.

I'm a holder. Can't sell here. That would be giving then away.