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GitReal doesn't respond to my question as well, guess he has something to hide.
GitReal, just please answer my question, thanks
What's your motivation for posting here,
do you currently hold shares in SDRC?
For information on the historical mines just secured by Sidney in the Warren Valley, including those said to have recently been tested to contain PGM's (Knott and New Era), read:
Reed, J. C., 1937, Geology And Ore Deposits Of The Warren Mining District, Idaho County, Idaho: Idaho Bureau Of Mines And Geology, Pamphlet 45
The pamphlet can be downloaded here: https://www.idahogeology.org/product/p-45
gitreal
what's your motivation for posting here,
are you currently holding shares of SDRC?
Sayin' something? They're always sayin' something.....mostly unverifiable, hard to believe, hype.
They just spent a whole bunch of time and money on staking new claims....yet can't find the money to do a few assays for PGMs using a legitimate lab, and signed off by a third-party geologist?
I seriously doubt they have found any PGMs. Investors should be incensed that this company is running a promotion this sketchy.
GitReal what's happening now that SDRC is sayin' something?
A lot of speculation Surrealist.
This is very high on the scale of how complicated metallurgy can get given their scope. Companies get stuck for years on metallurgy, and almost always without any deadlines to profitability. They usually figure all this out before they can even attempt to figure out if a mine can be profitable and for how long. The multiple stages of feasibility studies take years after all the data is in... A company in their position would want to take their business model to the bank in order to construct a mine... Instead, these guys have jumped ahead and keep accepting cash privately to build and build and build and experiment, and who knows what else, without presenting these necessary scientific and economic studies to investors.
Instead of proving what they have, cost structures, and what they can reasonably sell for profit, they just expand.
"This is not a traditional mining stock" is the answer to every industry-comparability-informed question.
Investors need higher profile money to appeal to this project, but they never cease to hold in contempt the standards by which mining companies are judged by.
Another mindfuck from Steve Cyros's XRF rig released!
This time it's from an unprocessed and concentrated piece of ore from a newly staked historical mine near their older claims.
Rhodium 867ppm, Palladium 574ppm, Silver 5721ppm, Cadmium 1620ppm, Tin 1162ppm, Antimony 1122ppm
Whoop, no assay chart again, but stay tuned for the rest of the developments coming this fall!
Alarming to me is this Cadmium at such high concentrations given Cyros is handling that alloy with his bare hands. The crushing of such cadmium-laden alloys would definitely create highly toxic fumes to humans... especially given that a mere 1-3ppm when measured in soil is said to be detrimental to plant life.
All this talk of cyanide leach tests, high concentrations of cadmium, antimony, makes me think that permitting will be a factor not to be underestimated after the enormously and increasingly daunting metallurgical issues are solved. The more they work, it seems, the more they lower the overall certainty of their operation's economics, and the more they introduce possible excuses to delay fulfilling their previous astronomical projections of profit into the future. As I have said repeatedly, they can "high grade" through 1-2 years of gold ore, now with the 1 curated certificate of analysis from Dr Demenna showing a necessitated a cyanide leach to liberate the gold, but all that would do would postpone lower grades to be converted later in the life of the operation. Does it stand to reason that these already mined higher grade ores will show up out of nowhere again and again and again?
I am curious to see how this "exploration" and proving out a "World Class Deposit" will result in mineral reserves on any metric accepted by the wider investment community. Upping the ante in this way is a marketing tactic for OTC stock enthusiasts, and maybe late stage gold bull market type people with no experience in this industry, and seems almost intentionally deterring to specialist investors serious about investing in this space.
Either they have done all the due diligence needed to determine that the scope of their new discovery is economical to mine and process for sale, (for those that are new to mining investment, no they haven't) or they are trying to protect the area around it so other companies or individuals don't come in and do their own due diligence, drill, sample or whatnot, outside of what they and only they have the authority to present.
You'd miss out on some valuable discussions. Do you think SDRC actually has PGMs on their mining properties? Do you care?
You two might as well just exchange phone numbers and text
It's still bullshit.
How about a couple assays from a credible lab?
If Sidney can prove they actually have a significant PGM discovery, it would blow the lid off this stock, and be one of the most important geological discoveries this century.
Instead, they come off looking like amateurish grifters.
from concentrates, not from rock samples
So ....rhodium at 357 ppm (or roughly 11 oz/ton) in a rock sample? Gosh, this makes the iridium discovery look like nothing!!! I assume there will be headlines in tomorrow's paper!? Rhodium Bonanza discovery!!! Over $50K per ton??? Yowsers!!!!
Or perhaps someone has dropped the XRF one time too many?
New XRF mind-fuck!
Released today on twitter, a picture of an XRF gun readout showing: Niobium 84ppm, Molybdenum 38ppm, Rhodium 357ppm, Antimony 243ppm, Tungsten 871ppm
Hypothetically, would the impurities nobler than gold (PGM's) necessarily be found by anybody that has smelted in this locality before 2023?
....or is SDRC doing something fundamentally different?
PGM's were found at the smelting stage, and overlooked by exploration thusfar, including the drill core studies done in preparation of the report by Goldstone in the 1980s, and not to mention 150+ years of production mining, prospecting, drilling, and otherwise occupation of this area.... so what has been done differently now, that makes smelting so much more complicated? From all the documentation on gold mining in this region, has nobody documented impurities in the slag being impervious to the high temperatures subjected to it? Have its contents beyond the target primary metals never been investigated before?
And how about SDRC release even a few samples worth of REE data for their "ore". If Sean Rae is going to keep putting #REE on his X posts.....with no data to back it up, what does that look like? Not good.
I'd be willing to bet REE are close to crustal background abundance levels - maybe hundreds of total REE ppm, nothing unusual.
Steve Cyrus pops up on multiple shady OTC promotions (a "family" of phony mining companies, including SDRC). The videos he's made for BRGC are particularly amusing - his level of ignorance about geology, mineralogy and exploration are on full display. Holding up a chunk of basalt and calling it lithium ore.....classic. no respect at all for investors.
And yes, an assay for PGMs is relatively cheap, most credible labs can do them, and a day of field work and brief report by an outside qualified mining professional, a couple thousand bucks. SDRC will never do it because they'll end up looking like liars/frauds when the results show no deductible PGMs.
And now they can't cash in on their super sacks of concentrate until end of year?? Why? What is stopping them from shipping a couple tons of that incredibly rich stuff to a smelter? Don't they badly need the money?
It should be easy to produce assays targeting PGM's, especially by now, so I am having trouble coming up with any good reason for why the company still refuses to. The excuses made public concerning traditional assays not being accurate are painful and abhorrent. This is the year 2024, so we have the technology available to do this quickly and inexpensively for goodness sake. No public company should fly any red flags (like this) for longer than absolutely necessary. The thought that they are deliberately holding information back, after saying all they already have on the subject on social media and in filings is a PR disaster.
Also, why is Steve Cyros being photographed recently at Sidney Resources with a bunch of samples and an XRF gun in hand? Isn't this the guy behind the BRGC property and BYRG property? Both are historical producers of industrial metals with novel and unexplained PGM mineralization, no less recently uncovered by use of an XRF gun.
You're getting there. But you still allow them to get away without proving there are ANY PGMS at all. XRF readings and pictures of shiny metallic fragments in a supposed "concentrate" do not count. The CEO quoting the operations manager saying that an unnamed geologist says there's PGMs...
definitely doesn't count either.
If there are no PGMs (and I would bet the farm on that being the case), how can you trust ANYTHING this company says or does?
SDRC is a gold stock.
The company has demonstrated that they are on track to start selling a steady stream of gold and silver concentrates by the end of the year.
Everything else found present in these ores may or may not be a precariously stupid distraction. The PGM thesis, and the silence it supposedly necessitates, as management's "control play" secures their claim, is probably counter productive as hell. I am reminded of what we saw with turn-of-the-century early-1900's promotion of any given region's potential, often based merely on anecdotal evidence, in order to attract laborers and investors. They already have said that they think the PGM's are derived from a massive meteorite fragment, showing that they have discounted the possibility of hydrothermal and magmatic sources of PGM's in their rock. They have also released a picture of what they are calling a "PGM Vein." This is all terribly confusing. Where have meteorites ever produced a mineable PGM deposit outside of individual collectors pieces and specimens for study? What company on earth crushes meteorites for their PGM content in order to sell alongside a primary gold product?
It is my opinion that SDRC should NOT invest in equipment and a facility for processing PGM's until the resource is proven economically feasible to mine and process. They shouldn't even advertise PGM's as an economic boon until then. The scope must be established and a feasibility study must be conducted and shown to investors. Nevertheless, as earlier indicated, Sidney is jumping the gun again, consulting with a prospective 3rd party partner to process the PGM's present in their gold ores, and any additional "PGM Veins" found on their existing claims. I must say, this company has a nasty habit of moving forward in using investor capital to build out an operation without proper due diligence, and when it was borderline tolerable before, now the stakes are higher with a (vastly more complicated to economically prove, and relatively much easier to disprove) novel PGM occurrence. It was dangerous when it was just gold and silver, but now that they're moving forward on PGM's, we are in a totally different ball game: lower grades, a broader area needing to be mined, different environmental stuff, higher thermal resistances, higher melting points, different chemical resistances.... If the company moves forward with a PGM thesis, they're back to square 1, and they need to get back to discovery delineation and exploration!
Meanwhile, we have lots of restricted stock becoming unrestricted (which will probably continue and get more intense until the end of the year with a dividend informally announced) and the preemptive selling that always goes along with it. If market-markers net short have been willing to do so when locates are fake, they are guaranteed to waste no time in taking advantage of when locates are real. Sidney's team of volunteer market-makers should get ready to hold their line lest stock price fall below established support. Investors are going to need to take advantage of any and all buying opportunities if euphoric expectations have not already produced an overweight position. Hang in there for that dividend reinvestment squeeze! 🫠
PGMs, REE, and meteorites!!!!
Yeah, shady as hell.
With any luck, or maybe just utilizing some of your innate common sense, you will realize that you are being conned...even scammed.,
Strategic Advisory and Collaborations Advisory Expansion
Quoted from SDRC's 2024 Q2 Report on OTCMarkets:
Engagement with a Specialized Recovery Company
Quoted from SDRC's 2024 Q2 Report on OTCMarkets:
Jul 23, 2024 quote from Sean-Rae Zalewski (@SeanRaeZalewski) on X
Oh boy, here we go.... unassayable ores!
That pesky iridium!
Evaluation of Geology for Meteorite Strike
Quoted from SDRC's 2024 Q2 Report on OTCMarkets:
Metallurgical Testing and Complex Ore Challenges
Quoted from SDRC's 2024 Q2 Report on OTCMarkets:
I wonder what those poor, long-suffering private placement holders think of the PGM, REE and meteorite promotion of the last 3-4 months? They should be disgusted.
Agree. I was just throwing out a too high number.... longs might like it....
I'm sure it was a compensated "valuation".
SDRC is not worth billions. Or $50 million. Or even $5 million. In fact, with all the private placements.....it's probably got negative value.
Sadly, I doubt any of those private placements will ever be redeemable. Money down a rathole.
Hilarious is right. This Schite isn't worth $50m..... Was that a paid promo piece?
close to signing Sales Contracts
For what?
Sean is close to signing Sales Contracts. Many are preparing for this future now.
Hawk
BlaBlaBla...
This company and its princiapls, have little or no integrity.... and I'll lean toward the "no" end
Its a thing of pride for them to see this company moved forward with integrity.
Sorry, but I just don't see much "integrity". I see some promoters (Hally and SeanRae) with zero technical qualifications to be running a mining company spouting hype, bullshit, and really bad math.
If there is economically minable gold in their mining claims, they have yet to make the case. But they could still succeed if the gold is really there and they are willing spend a few dollars on some legitimate assessment work with credible third-party consultants. Not hyperbolic posts on X from SeanRae quoting Hally quoting some geologist who says "if the XRF data is correct....... Not posting dollar estimates of the value of the "precious metals" in the concentrates using bad math, and without some kind of believable data and assumptions to back up their estimates. If this were a SEC-reporting company....they'd get slapped down big-time for those kinds of screwy dollar estimates.
So yeah.....instead of proving they have gold, all that other garbage (PGMs, REE, meteorites) paints a very bad picture of this company. Very bad.
invest in people who will do what it takes to ensure their investment grows
Do what it takes? No matter how disingenuous or outright dishonest? That's a sad way to make money, and ultimately, not viable. Those situations inevitably spiral down into lawsuits and legal actions....
They are even stacking their children's college funds and Roth IRA's with this stock.
Lordy. Those are the exact folks who should not be investing in a non-reporting OTC "mining company". If someone wants to invest as a lottery ticket, or like the thrill of the gamble.....sure, SDRC is for you. But holy crap....don't invest your kid's college funds or your retirement monies. I can't believe how stupid that is.
It would be super easy, pretty fast, and relatively cheap to prove that PGMs actually occur at the SDRC claims. So why won't they do it?
Any claim that the ores are unassayable, that the PGMs are somehow "hidden" by other metals, or silica.....is bullshit. And that they have to send samples to Germany or some other specialty lab that no one has ever heard of....is bullshit. There are a dozen main-stream, credible labs that can give them their PGM results with reliable results.
Investors should not stand for this kind of hype. Unless they are okay with it and don't care about the dishonesty, in the hopes that it doesn't matter what bullshit is said as long as it results in a run that they can sell into. That might be what's going on.
I'm with gitreal:
They are not interested in serious investors (savvy with mining stocks). The less knowledge, the better. True for any OTC stock.
You are darn tootin' spot on!!
I will just say that the PGM/REE/Meteorite nonsense being spouted by Hally and SeanRae would be embarrassing to any serious investors and any real geologists associated with the project.
Mistake #1: They say they have 1,381,830 grams of processed concentrates, which they multiply by 35.27 to come up with 48,742,659 ounces. Completely wrong. The conversion from grams of gold to ounces of gold is to divide by 31.103, the actual result being 44,532 oz.
Mistake #2: They assume 80% recovery of their 48,742,659 oz. of concentrate and come up with 38,994.13 oz of "precious metals". The actual answer, using their 48 million oz of concentrate is.....38,994,127 oz. So, it seems they have the numbers right in this calculation, but the decimal is seriously misplaced.
So, bad/careless at math. But what investors should be especially aware of is that they assume the processed concentrates (pictures of which are shown on X in super sacks) are nothing but "precious metals". They don't say what the precious metals are, they don't say what concentrations each precious metal is, and they pick some recovery number out of the air (or somewhere else) as 80%. And it looks like they assume every ounce of that concentrate is pure gold, but still unclear how they came up with that $1,382 number (80% of what??). And typically, you'd smelt concentrate and recovery nearly 100%. So, why 80%, no idea. Any smelter would be quite happy to work with material that has that much precious metals in it.
Funniest thing of all....the pictures of the material in those super sacks looks like....sand. Not concentrate, which would normally be gray or black.
Another super sack of concentrates! $SDRC
— Sidney Resources Corp. (@SDRCMINING) July 1, 2024
Concentrate - A fine, powdery product of the milling process containing a high percentage of valuable metal.#Idaho #Gold #Silver #PGMs #Mining #Production #Progress #WorkContinues #Invest #America #Success #Video @wfmining pic.twitter.com/R7uC3KjIKZ
The cited "Estimated Results" is clearly far from a definitive nor exhaustive account. Let's not pretend that it is or is even meant to be. For conversations sake, I do see some problems that could lead to a wide margin of error if you were to treat it as such. We must understand that we will necessarily not have access to the same information the company does in order to do that though:
One thing that stands out to me is the conversion of grams to ounces instead of troy ounces. The spot price of precious metals is the market's conversion rate per troy ounce. There are approximately 31.1035 grams in a troy ounce. 1,381,830 grams would equal 44,416 troy ounces.
The value of $1382.00 per ounce is stated as a "portion of the potential values." This implies there might be higher possible values, but does not provide a basis for the chosen value. For calculations sake, market fluctuations and metal purity levels have already seriously affected this value, and gold is clearly not the only metal present in any of their concentrations. Recovered Ounces = 44,416 × 0.80 = 35,533 ounces. Total Value = 35,533 ounces × 1382.00 dollars/ounce = 49,111,906 dollars. A small difference, perhaps.
The aforementioned problems are not what concern me as an investor. The margin of error between $49million and $53million for 6 months of work (set to expand) is nominal. What will interest me most are calculations confirming previous projections of the stockpiles grade, and a break down of all in sustaining costs of running this operation, in order to arrive at a projected long term value of the project. We don't know how much stockpiled ore it took to create this amount of product, nor do we have a break down of costs to know how much profit will be available for the company and shareholders.
That all being said, I appreciate the preview from SDRC but realize that every one of these numbers can and probably will change.
Revenues before reserves.
I think those 3 words answer all of those questions.
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