Shortly after winning the GF in October 2010, the St George Dragons started 15 years of underperformance which sadly continues to this day.
In Nov 2010 a small mining company St George Mining (SGQ) listed on the ASX with hopes of striking it rich via the exploration of local Nickel sulphates. Whilst they drilled, drilled and drilled again, commercial quantities of Nickel ore were never found and they too incurred 15 years of share price underperformance - their share price recently bottoming out at 1.5c.
Then in Feb this year they completed the acquisition of the Araxa Rare Earths project in Brazil. The rare earths space has taken off as the USA is attempting to source non-China supply. SGQ's share price has recovered to close at 7.4c on Friday.
They will soon need to raise some monies to finalise the payment of the remaining instalments of the project purchase but should current drilling increase the known resource, should metallurgy be confirmed and should they sign binding output agreements with USA companies - one would expect their share price to increase exponentially.
So whilst we prey for the turnaround in our beloved St George Dragons to lighten the weight of our hearts - a turnaround in St George Mining could add weight to our light wallets
*The information provided is NOT financial advice. I am not a financial adviser. Do your own research.
In Nov 2010 a small mining company St George Mining (SGQ) listed on the ASX with hopes of striking it rich via the exploration of local Nickel sulphates. Whilst they drilled, drilled and drilled again, commercial quantities of Nickel ore were never found and they too incurred 15 years of share price underperformance - their share price recently bottoming out at 1.5c.
Then in Feb this year they completed the acquisition of the Araxa Rare Earths project in Brazil. The rare earths space has taken off as the USA is attempting to source non-China supply. SGQ's share price has recovered to close at 7.4c on Friday.
They will soon need to raise some monies to finalise the payment of the remaining instalments of the project purchase but should current drilling increase the known resource, should metallurgy be confirmed and should they sign binding output agreements with USA companies - one would expect their share price to increase exponentially.
So whilst we prey for the turnaround in our beloved St George Dragons to lighten the weight of our hearts - a turnaround in St George Mining could add weight to our light wallets
*The information provided is NOT financial advice. I am not a financial adviser. Do your own research.
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