Hello Eddy.
3 months is "long-term" in Confluence's book. :-).
As we head towards our triple bottom , I think we have to reinforce the basic strengths that brought us to SUF , as well as acknowledge the failings/inherent weaknesses that have eroded (at least in my case!) our equity:
1. This co. was the darling of the Canadian-based diamond exploration field for a long time for good reason - great exploration team , proven ability to find assets , dedicated sponsors , etc. - IOW , a hungry , talented co. on the make. What has changed ? - M1 fiasco , Booming NWT , political turmoil in Angola etc. - IOW , an alternative to investing in what the market now perceives as a co. with political risk exposure under questionable management.
2. This co. has integrity and does not promote that which it cannot deliver - this is the true long-term test of any producing co. and one which the DMM's and ABZ's and WSP's will ultimately face. SUF has stumbled (and hopefully learned) on this road. I take some comfort that the NWT/Camafuca/Messina silence (measured approach) is evidence of this education. The power to resist, and not succumb to , current market prices/trends , will eventually reward. Share buyback is a short - term reward at the expense of longer -term gain ; I applaud them for letting the greasy wheel squeek
3. SUF , like many of you have taught me , is old school/deeply experienced/ connected. What goes around does indeed come around. It will come around for SUF. Who would you want in your corner - CJ/KF or some of their compatriots at other co.'s who currently have larger market caps ?
4. SUF owes nobody - this is a blessing and a curse. Blessing for obvious reasons , curse because they are not dependent on a major brokerage house's underwriting (read FEES) of an offering to bring their near-term projects into production. This is a simple truth.
There is a lot more , in my mind , most of it attributable to growing pains.
Vaughn , the TK bidwhacker reminds me of Colonel Kurtz - a long-time SUFerrer/warrior that went into the jungle for his own reasons:
Sheen: " They said that your methods were unsound "
Brando: "Do you think my methods are unsound ?"
Sheen: " Frankly Sir , I don't see any method at all"
...."The Horror. The Horror."
Regards. |
