Hi Goalie - The reason this article was missed by all the diamond experts/analysts is because Hilton Ashton has a reputation in the market place as an analyst that can easily be bought and therefor his research is treated with a lot of skepticism.
It's amazing how his reports always come, as the company needs it most. His timing is always impeccable!
Sep 22, 1997, he wrote: "We have revised our one-year and three-year target prices up to C$20.00 and C$43.00 respectively, on the basis that the Klipspringer Project is proving to hold more valuable reserves than previously estimated."
He then goes on to discuss the Klipspringer project and adds at the end: "In the meantime, it (SUF) is planned to start mining the Marsfontein pipe at a rate of 2,000 tonnes per day, which will generate cash flow in the short term."
Feb 23, 1998, he writes: "Our one- and three-year targets have been reduced to C$15 and C$23 respectfully and we have downgraded the stock to a hold."
Now we are down to C$12.71 and C$22.47 respectively!! It must be great to have a job where if you are wrong, you just change your mind.
I think it's time that CJ...uh...I mean Hilton, does a little due diligence before he makes his recommendations.
I like this company (and I have a $11 per share loss) and I believe that if they stop all this fake promoting and get down to the business on hand, we will see the stock price go back to $20!
Joe.
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