Its been a long time posting but I do look in most days to see what is being said. I am still loaded up with SGX shares over 525,000 and in it for the long haul.
Mike expects a news release very soon and is hoping to back it up with several news releases every couple of weeks apart for the next couple months. Also they are expecting news from KXL and other area plays as well. Mike is hoping that our share price based on the news release's for SGX and the area plays gets us up where SGX will be able to exersise some warrants and raise money that way. He told me the current burn rate was $100,000 per month and that they have approx. $2M in reserve counting the $500,000 they are getting from Kerrs so we have enough cash on hand to carry us through for a while. I also asked him what he thought the fair share price of SGX should be and his reply was at least .50 cents a share in normal market conditions. I felt when I bought in 2 years ago it was a 3 year play and now I feel it is likely still a 3 year play for me anyway as my average share price is around .22 cents , I have considered averaging down again but that would really only help me out if I want to get out at 15 cents if it ever gets there and as I likely would not sell at 15 or 22 I think I will just keep my position and wait it out.
Take care and keep up the great posts
Habrule
