Hello Buylowsellhigh,
I don't agree with you. I don't think that this is only the end of the year individual tax adjustments. I think that SUF share prices are being kept low intentionally. If you were to sell the company today it is worth more than what it is trading at.
Let us look at the facts:
# M1 is a cash cow. There are at least 1,000,000 tons of ore. Average 2.5 (that is conservative) c/ton. Let us say $160.00(US)/carat. That is $624000000 CDN. And 40% of that is SUF's. That will make it around $10.00/share pre-tax value.
# They are the 2nd largest mining-rights holder in NWT-Canada.
# They have 51% of the Largest known diamond reserve in the world.
# They have the Klipspringer and there are currently operations and mining going on there.
# A lot of on going smaller projects.
So, if you look at the big picture, on paper SUF is worth ,IMHO, at least $15 (That is as is) and it is trading at $7.00 range. Also, P/E ratio of the industry is still much higher than SUF's P/E ratio. (Look at Aber, Euro-Nevada etc.). No, I don't think that price came down this low unintentionally. I believe that something is going on and we don't know that.
One way or another, soon we will be rewarded for our patience.
Regards
Bozkurt
P.S. VP and Vaughn, Thanks for your responses
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