Hello Confluence
Thanks for your thoughts both here and in your private message.
I think this is too important to discuss quietly in the back ground so at the risk of your displeasure and SUF's I will reply here.
We both agree with the long term future of SUF, it is the short term that concerns me and how SUF is attempting to address share value in that time frame.
I'm sorry, but continuing to exclusively do the same things that the market has already provided ample proof that it will not reward in the near term just does not make any sense in my mind.
It isn't some blind loyalty to the NWT that drives my single minded harping on the subject. If SUF had Ontario or Quebec pipes I would be even more enthusiastic about their development, because of lower development costs and lessor political difficulties. Anyway, they don't.
What SUF is doing is not working. You and they can not deny that. It will eventually, but not today, tomorrow or this fall.
You also can not deny that ABZ and prior to its production decision, DMM, were two Canadian explorers with no earnings yet significant share valuations based on Canadian pipes. In the same breath, WSP has a similar market bias. How were SUF, Archangel, Rex and a half dozen other Canadian companies with third world assets rewarded by the market?
Blindly following a course of action to the exclusion of all evidence to the contrary is not a whole rational policy. Failing to recognize what the market is clearly telling you also is not only irrational, but plain bad business.
Fundamental value will support the share price eventually, but ignoring or de-emphasizing Canadian asset discovery is a short sighted and misguided.
I am sorry, we agree on many things, but blind support of policies that have not performed and denial of evidence that has provided shareholder value, simply does not make any sense to me.
Frankly, that is why some big shareholders continue to sell their positions into any buying pressure and will continue, until they are out. Capital goes to where it will be rewarded today not tomorrow.
I guess we will just have to agree to disagree on this.
Regards
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