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Re: Mike1001 post# 12826

Thursday, 09/08/2016 10:30:08 PM

Thursday, September 08, 2016 10:30:08 PM

Post# of 12911
I can understand exactly what you are saying...you are right, and the press releases back up your concerns.

I have felt likewise, very frustrating.

As I have stated in previous posts, they were NOT realistic early on in how long it takes to get a permit through the entire process and what road blocks could be encountered. The (new) CEO and mine owner has taken the bull by the horns and pushed this through single-handedly almost to the point of being fully permitted, with mining to follow sometime in Q4 . As far as I am concerned, its more a matter now of whether there is gold or not, I am sticking with the former belief. You can contact the BLM if you want to confirm status, they will gladly talk to you, here's the link:

https://eplanning.blm.gov/epl-front-office/eplanning/planAndProjectSite.do?methodName=dispatchToPatternPage¤tPageId=55904

As far as not cashing in, actually it's a year, not 6 months, and that is very standard for these types of offers (I think its SEC Rule 144). BUT, what's unique about their offer is that you have the choice of either stock or gold (or a combination). The gold would offer you 4x your investment if it is selling at $1200/oz. (you get 2x your investment @600/oz), and it is above that right now. The stock offering well, is subject to the stock market and significant dilution, but, you can see what has happened to the mining stocks since January as the best asset to own, with GDXJ (junior minors) increasing already 3x+ from the bottom. If even a fraction of that irrational-ness (it was also irrationally oversold at the bottom since these stocks started trading in the 70s) spills over to these micro stocks, who knows what it could do, but it will do more than where it is now (hardly trading). Since most investors I am assuming have already met their 1 year hold and eligible to trade, and since we see almost no trading of this stock, I think we can safely assume one of two things - 1) people are in it for the gold (and I have a strong suspicion that is the case, and in fact I know that that is the case for an investor group with which I am part), and 2) those that are in it for the stock (I was leaning that way from the start) are not bothering to register their stock since they would be selling at low prices at this time and they want to see what happens and decide in the future (you can't go backwards once you register).

The good thing about the gold option is that it doesnt matter what your option price is, since the gold option is solely based on how much you invested, not the price of the stock. So, as long as gold is produced and made available, you're all set.

Finally, with hold periods greater than a year, your taxes are less, and in the case of gold, its not even clear to me how reportable it is (someone told me greater than 10 grand would be reported to IRS).

OK admittedly I have done what you said, saying its going to be any day now multiple times, b/c in fact I believed just that, and in fact for the most part was going off the press releases issued. So I'm pissed too, and I certainly wasn't trying to mislead anyone as I have been misled. But I do believe the end is in sight. If there is anything I have learned, some of these investments take a lot longer to come to fruition than originally expected, and this for sure is one of them.

So you decided not to invest and that's fine, you were able to make money on other ventures. You got to watch from the sidelines and observe second hand what can happen and got a free ride to learn and maybe you can apply that to a future venture in this very volatile space.