SXG & NAG, page-70

Don’t own either but watch as its scary how similar the picture is today to some 30 years ago … doesn’t take a rocket scientist to see who SXG is looking more like …

In the early 90s there were two companies in central Vic, not far from one another, BDG and PSV.

BDG, the market darling, told everyone who’d listen they had many millions of ounces. They had big broking firms telling the story too. They had big holders, Paker being one. Had icons of the mining industry as advisors and on their board. They were not mining though, they had no JORC, but it was coming and we were told it would be a beauty. They were good at telling these stories, they must have been, 100s off millions was raised on market.

PSV was the poor neighbour. Working a field that didn’t have the pedigree of the Bendigo gold fields. Didn’t have the PR machine. It was mining though and it did have a modest JORC resource, stating it could get to a million ounces in time … this was not enough of a promise, brokers clambered for BDG, they were promising 10 times as much after all.

Fast forward to today. BDG’s contribution to Bendigo is the most expensive tunnel to nowhere and a few fenced off areas on the peripheries of town that no one knows what to do with. PSV’s Fosterville is … well … Fosterville.

… most on here are day traders / gamblers and don’t give a rats, SXG kicks butt on short term gains if you play it well … the few that are in for the long haul to see a mine, pomp / flair with a personality following don’t mean squat …