SIH 0.00% 0.1¢ sihayo gold limited

Retrospective to ASX Appendix 5B Query Letter

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    Extract from the Query Letter Response to ASX Appendix 5B.

    „SIH’s primary focus is its Sihayo Gold Project(“Project”) in Sumatra, Indonesia. Thisproject is currently completing the feasibility stage of project development.Details of the revised mineral resource estimate and subsequent feasibilitystudy will be released to the market…“

    That seems familiar to me somehow.

    PerthNow,

    December 21, 2009.

    “The company plans to have a feasibility study in placeby the end of next year, gain all necessary approvals by the second quarter of2011, and then complete construction of plant and mine by the end of 2011 readyfor production.”

    https://www.perthnow.com.au/news/wa/promising-gold-intersections-boost-sihayo-gold-ng-8ac7d57b1290a6649df75a556fbf3189

    That was 10 years ago in December 2009. The company had just changed its name from Oropa to Sihayo.

    Number of shares in former days 425,202,424 with an share price of 0,061 AUD. What a development. In February 2020 we have 2,289,864,262 shares and a share price of 0,18 AUD, where 0.18 AUD is currently a peak.

    10 years for a feasibility study and still not predicting when it will be completed. During this period Beethoven has written 7 symphonies. But the feasibility study is probably like the 10th Symphony, the Unfinished, which will probably never be completed.

    Based on the feasibility study in the report dated August 3, 2018, the current gold price of $1,620 would result in a profit of $1,380,284,000. This does not even include the resources for ore and fantasies for diamonds and other resources for gold, that should also still exist.

    But even if theprice of gold rises to 2000 dollars, nothing fundamental will change with this "highly skilled and dedicated" management team. With a probability that is certain, the feasibility study will have to be adapted to the changed conditions for years to come.

    Actually, thereis only one solution, that a large mining company takes over this dump. Sometimes,unfortunately, the wish is only the father of the thought.

 
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