Illusions?14 Jun 2022 10:29
It appears to me that SGZ are in a never-ending cycle of reporting (promising?) lots of ifs and buts. In global terms this is a very small operation with a very top heavy structure and a lot of debt. They appear to be working hard to shake off the effects of the previous regime but at what cost and how long do they have to do that? When, and its a big when, tonnage does start to creep up, then its likely that the increased returns will have to go to repaying the ever rising debt long before dividends ever happen. Where is the on-site produced gold that would attract the "made in Scotland" sales premium? Just how many brokers are in the "buy" camp? For me there are too many questions and promises and not enough answers.