Jordan,
I've blamed SUF's stock price on the "manipulation" of the broker firms (most notably FM)for the past two years. I've come to realize, belatedly, that broker market manipulation (if it exists in any real sense) only counts for so much. We have to recognize that the company has fundamentally failed to meet the expectations that it created in the market place. It has no one to blame for that but itself.
I bought a diamond company.
I now own a potential platinum company, with some sick diamond assets. Klipspringer is a pale shadow of what it was originally touted to be, the M-1 is nearly mined out, and the company has yet to make another find of any (and I repeat any) significance, even on Marsfontein. Austrailia, Brazil and NWT? Don't hold your breath. I don't even plan to discuss the merits of Camafuca.
Am I disappointed? Certainly. Do I blame management for screwing up what could have been a great story? Most definitely (with, perhaps, a little help from our friends in the brokerage community). Will the company eventually come out of this mess? I hope so, for the sake of everyone who invested (many on the advice of friends and relatives).
I, for one, have lost faith. I don't plan to unload all of my holdings (and certainly not at current prices). It would be hard for even SUF to screw up Messina in the long term. But I don't expect to see any real appreciation in the stock until: (i) the Messina project financing is announced (can't remember now - was that planned for '99 or 00?); and (ii) we finally find out exactly how good (or poor) the resource at Klipspringer (in pre-feasability???????)is.
Casino Rama offers better odds in the short term, and for that, unfortunately, we can't blame the brokers.
I really hope I'm wrong, but time will tell. |
