Positives on SGQ!, page-16

Hi ozblue

How much of your analysis is influenced by you distrusting the management?

Let's consider those same facts but assume the management is trustworthy.

* The delayed mineral resource estimate (MRE)

It is certain the near surface deposits are small... the question is are they still economic given they are high grade? The company has expressed its opinion they can be commercially mined. The PGE's make up about half of the value of the ore... it has been explained (years ago) that since there are no processing facilities in Australia set up to capture the PGE's the ore will need to be shipped elsewhere. If the deposits were more extensive perhaps an MRE number might have already been published... so... it is an indication that the company is working with marginal numbers to get things over the line. But that doesn't translate into the company is "stalling". Your interpretation is "there is not enough to mine" and that is why there is no MRE... I think, if that was correct the company wouldn't be going to the trouble of having things thoroughly analysed. I think your opinion is biased towards thinking it is a sham because you have made your mind up prior that management is dishonest and you are only looking to confirm that view.

As far as the slow turn around getting the final results.... this is Canada we are talking about... the same place that has been international news for many days with the 'trucker blockade' protest over the level of Covid restrictions. The company has repeatedly stated the impact of Covid has been a major reason for the delays... given the level of frustration amongst some truckers in Canada what's the chance that excuse is completely factual?

* Drilling results today...

Personally... I started to worry when the timeline was not met. That is nearly always a bad sign and so it proved to be. It was always going to be a long shot for the drill to intercept a meaningful zone of high grade mineralisation but failing to encounter what management assumed to be a major intrusion is confidence destroying.

My complaint is management sets people up with big expectations... which if not met things end like it did today. That doesn't mean the management is dishonest... just unwise. A point I have made before in my posts addressing you is a dishonest management would never get the drill rig out on the ground in the first place.

To give you credit where I think you deserve it .... in today's announcement SGQ plans to do an East/West seismic survey line... i.e. it will then have a 3D image of the ground beneath. Today's poor result indicates the company would have been wiser to have gathered more technical information before drilling. Your other point about a 2D seismic not being sufficient I think was well made.

* There are 4 more deep holes to go... it is premature to write them off before they have been drilled.

A couple of posters (in the other thread) have expressed their opinion that only a few isolated pods exist near the surface and there is nothing else to find. I think that is your opinion also. Well... that is a mystery. How did those very high grade pods get there in the first place? I have asked for your explanation once before... care to have a go at it now?