STTYF

by stock_er | May 15, 2013 11:53 am

What’s going with STTYF changing their symble to STTYD and reverse spliting?
Larry

Source URL: https://www.stockgumshoe.com/2013/05/microblog-sttyf/


  1. 11441 |
    Travis Johnson, Stock Gumshoe
    Travis Johnson, Stock Gumshoe
    May 15 2013, 01:20:54 pm

    I expect the symbol will revert back to STTYF once the dust clears from the consolidation — they’re consolidating the shares 10:1 so, to put it bluntly, they can be taken seriously by institutional investors and, if things look up, can someday uplist either to Toronto or New York in the future.

    Here’s a brief excerpt of what I said about it in a Friday File a few weeks ago:

    “There’s plenty of reason to keep fingers crossed about Sandstorm’s future, but the share consolidation doesn’t bother me — all we’re doing is going from 333 million shares at 35 cents to 33.3 million shares at $3.50.

    “I think the most likely outcome (unless copper falls below $2.50 or so and stays there, or zinc prices collapse — it’s primarily a zinc mine) is that Bracemac-Mcleod starts up very well and will, with new reserves being identified as they continue drilling, produce for far longer than a decade from this mine and pay Sandstorm back handsomely over many years, so given that and the fact that they’re not currently raising more cash and have shifted the company to focus on better-funded streaming deal partners from now on, makes me quite comfortable to hold Sandstorm Metals and Energy because of this one mine, with potential for big upside eventually from their riskier Brazilian palladium and Mongolian copper streams.

    “That doesn’t mean it’s a screaming buy at these prices, with a very rocky market for junior miners and the share consolidation likely to be approved it’s very possible that the price will fall to new all-time lows at some point, it has traded below 30 cents in recent weeks and may well do so again if there’s no compelling good news or a new deal announcement. If they do raise cash by selling stock in this very resources-unfriendly market, and it’s not specifically aimed at a deal they have signed that the market likes (which I hope it would be), then the stock would take a more substantial hit.”

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