Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Peeled the 2nd half of my shares. Should have sold them @ $15 but can't complain. It exceeded my projections {$11.86}. I think this will go higher and relist on the AMEX down the road some. Good luck to the future players... :)
-----[]-----
Posted by: bankshot Date: Friday, May 15, 2009 3:48:05 PM
In reply to: None Post # of 1042
apexq now trading on the pinksheets with current information but unsolicited quotes. Showing bid and ask now. Picked up 4K @ 1.20...
1.00, 1.10 x 1.20, 1.30, 1.50{2}
Total shareholders' equity (deficit) 35,578
$35.578M / 3M {OS} = $11.86 per share.
Golden Minerals Reports First Quarter 2009 Results
Better format @ pinksheets.com > http://www.pinksheets.com/pink/quote/quote.jsp?symbol=gdmn
GDMN — Golden Minerals Co. WELCOME TO GOLDEN MINERALS COMPANY -
http://goldenminerals.com/
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=GDMN
http://www.goldenminerals.com/stockcharts.php
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44400188
Bob whats going on here Apex vs Golden minerals?
GDMN — Golden Minerals Co.
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=gdmn#getCompanyInfo
GOLDEN MINERALS CO
(Other OTC: GDMN.PK)
http://finance.yahoo.com/q?s=GDMN.PK
Yes, pretty sure. Try trading them. The entity is now known as Golden Minerals {GDMN symbol}...it's actually way undervalued, in my opinion. Currently trading @ 2.20 but is pretty illiquid with a wide bid x ask spread. GLTY
Have my shares of APXSQ been wiped out, anybody?
TIA
All that remains in my portfolio is G04074103 shares.
Where did that come from? 300,000 @ 1.75 {right between the bid & ask, 1.50 x 2.00}. Thought the float was, like, gone, lol...10% of OS in one trade. Hmmm...
lol, dav, not sure I can...trying to pick some more up, myself... :)
nice, hold'em off till Friday, i'll have lots of dry powder then.lol
Someone just bought 10,000 shares at the ask {1.50, 1.55, 1.65}, without regard for the bid {1.25} chasing the ask all the way up to 1.75 {on just 10K buying volume/pressure}. This train is about to leave the station...{+.40, 32%}...
Current bid x ask = 1.25{2}, 1.30 x 1.75, 2.00
Stock trading under new symbol GDMN {Golden Minerals}. The float is "about gone", in my opinion. OS approximately 3M. Shareholders' equity of approximately $11 = 6 bagger from here...
Check this out:
SIL {Apex Silver} went BK and changed it's symbol to APXSQ. Came out of BK over a month ago {March 25th} with new symbol GDMN and new name {Golden Minerals}. No one knows about this undervalued GEM. Well, actually, someone does = keeps buying over $100,000 every day...look what a google search turns up on the symbol GDMN.PK:
http://www.google.com/search?q=%22GDMN.PK%22&hl=en&start=0&sa=N
Results 1 - 10 of about 49 for "GDMN.PK". (0.17 seconds)
Completely forgotten yet has a shareholders' equity of over $11. Guess I'll see if I can get the message board changed to the new name/symbol. Here's their website:
http://www.goldenminerals.com/
Sorry...apxsq not apexq...was sil before bk...
apexq now trading on the pinksheets with current information but unsolicited quotes. Showing bid and ask now. Picked up 4K @ 1.20...
1.00, 1.10 x 1.20, 1.30, 1.50{2}
Total shareholders' equity (deficit) 35,578
$35.578M / 3M {OS} = $11.86 per share.
Golden Minerals Reports First Quarter 2009 Results
Better format @ pinksheets.com > http://www.pinksheets.com/pink/quote/quote.jsp?symbol=gdmn
DENVER, May 11, 2009 (GlobeNewswire via COMTEX) -- Golden Minerals Company today announced results for the first quarter 2009.
Overview
Golden Minerals Company ("Golden Minerals") a Delaware corporation, is the successor to Apex Silver Mines Limited ("ASML"). Golden Minerals emerged from Chapter 11 protection on March 24, 2009. On that date, ASML sold its 65% interest in the San Cristobal mine to Sumitomo Corporation and transferred its remaining assets, other than a small cash reserve for the payment of ASML's liquidation expenses, to Golden Minerals. A compulsory liquidation proceeding has been initiated for ASML in the Cayman Islands and all of the ordinary shares of ASML will be formally canceled in that proceeding.
Following emergence from Chapter 11 and the sale of the San Cristobal mine to Sumitomo, Golden Minerals is primarily engaged in the advancement of its exploration properties located principally in Argentina, Peru and Mexico and providing contract mine management services to Sumitomo for the San Cristobal mine. Golden Minerals has two advanced stage and three intermediate stage exploration projects in a portfolio of approximately 45 exploration projects. Golden Minerals also intends to seek strategic opportunities to utilize its experienced management team by providing mine services.
Sale of the San Cristobal Mine
On March 24, 2009, in conjunction with, and as a condition of its emergence from bankruptcy, ASML sold to Sumitomo its remaining direct and indirect interests in the San Cristobal mine, including its 65% interest in Minera San Cristobal ("MSC"), for a cash purchase price of $27.5 million, plus $2.5 million in expense reimbursements and the assumption of certain liabilities. ASML and Golden Minerals were released from all liabilities associated with the San Cristobal mine, including ASML's guarantee of San Cristobal's indebtedness. On the same date, Golden Minerals entered into a Management Services Agreement with Sumitomo under which it is providing certain management services with respect to the San Cristobal mine as described below.
Results of Operations for ASML (83-day Period Ended March 24, 2009)
San Cristobal Mine
Concentrator throughput at the San Cristobal mine during the 83-day period averaged 42,000 tonnes per day, exceeding the 40,000 tonnes per day designed capacity. Zinc concentrate production during the period was approximately 109,000 tonnes, and lead concentrate production during the period was approximately 28,000 tonnes. Payable metal production from the San Cristobal mine during the period totaled approximately 4.1 million ounces of silver, 54,000 tonnes of zinc and 18,000 tonnes of lead. Recovery rates during the period were approximately 64% for silver, 82% for zinc, and 72% for lead. Although prices for silver, zinc, and lead remained at approximately the same levels as the previous quarter, operating margins improved due to declining costs for reagents, diesel fuel and other materials.
Exploration
Golden Minerals exploration expenses, including property holding costs and allocated administrative expenses, were $3.5 million for the 83-day period ended March 24, 2009, as compared to $6.2 million for the quarter ended March 31, 2008. Exploration expense was incurred primarily in Argentina, Mexico and Peru. None of the exploration expenses reported relate to San Cristobal.
Results of Operations for Golden Minerals Company (7-day Period Ended March 31, 2009)
The Management Services Agreement with MSC for the San Cristobal mine provides for a base annual fee of $6.0 million plus reimbursement to Golden Minerals of additional costs incurred that are directly related to San Cristobal expatriate employee administration and other expenses, estimated at $3.5 million annually. The Agreement provides for Golden Minerals to receive the fee and any reimbursements net of Bolivian withholding taxes. The anticipated annual net cash flow from providing management services to the San Cristobal mine, net of reimbursable expenses and taxes, is approximately $6.0 million. In the statement of operations for Golden Minerals for the 7-day period ended March 31, 2009, "Revenue from Services" of $211,000 includes the base fee and reimbursements received for expatriate services and other expenses, including Bolivian withholding taxes, while the actual costs incurred for the reimbursed expatriate services and other expenses of $80,000 are reported as "Costs of Services" and reimbursed Bolivian withholding taxes of $26,000 are reported as income taxes.
Liquidity and Capital Resources
At March 31, 2009 Golden Minerals' aggregate cash and short and long-term investments totaled $29.6 million. This amount includes auction rate security ("ARS") investments recorded at a fair market value of $5.2 million. The former holders of the ASML's subordinated notes are entitled to cash or cash equivalents held by Golden Minerals in excess of the sum of $15.0 million plus amounts required to pay for accrued liabilities at March 31, 2009 and certain projected reorganization expenses that will be incurred after March 31, 2009. Based on March 31, 2009 cash and investment balances, accruals and estimated additional reorganization expenses, Golden Minerals does not anticipate that it will be required to make additional payments to the former holders of the subordinated notes.
During the twelve month period ending March 31, 2010, Golden Minerals expects to spend approximately an additional $4.0 million on final reorganization costs and $12.0 million on general and administrative costs (including amounts already accrued at March 31, 2009), and $11.0 million on exploration costs. Golden Minerals plans to fund these expenditures from existing cash and investment balances, from an anticipated $2.0 million of interest and royalty income during the period, and from the approximately $6.0 million of net cash flow from the management services agreement with MSC. However, in the longer term, continuing operations are dependent upon our ability to raise sufficient capital and to generate future profitable operations.
Exploration Update
Golden Minerals continues to advance its exploration program from a portfolio of exploration projects in Argentina, Peru and Mexico. The following are the results of the advanced stage exploration projects. All exploration results have been posted on the Golden Minerals web site (www.goldenminerals.com).
Argentina
El Quevar Project: Golden Minerals has drilled approximately 89 holes to date totaling about 18,000 meters of drilling. Seventy-six holes intersected significant silver-lead-zinc mineralization with approximately 75% intersecting +100 grams per tonne silver. Out of the 89 holes, 56 were drilled to test the main Yaxtche zone. Forty-four of the Yaxtche holes have intersected significant silver mineralization. Drilling established the presence of high-grade silver mineralization in parallel structures aggregating more than a mile in length and as much as 50 meters wide. Drilling has extended the zone of known mineralization to at least 300 meters depth in several areas. The Yaxtche zone continues to the east and west by +500 meters and drilling has intersected the zone at depth in two holes, one on the eastern extension and the other on the western extension. One hole returned six meters averaging 181 grams per tonne silver and the other eight meters averaging 665 grams per tonne silver. Preliminary metallurgical studies indicate that excellent silver recoveries can be expected.
During the first quarter of 2009 Golden Minerals obtained a 43-101 report, prepared by SRK Consulting, reflecting the most recent resource based on drilling data produced between 2006 and 2008. The resource statement for the Yaxtche deposit as of December 31, 2008 shows a total of approximately 1.5 million tonnes of indicated and inferred mineralization. Golden Minerals expects to update the 43-101 later this year to include the additional drill results.
During 2009 Golden Minerals expects to spend approximately $2.0 million in additional exploration work on El Quevar, focused on extending the deposit to the east and west and on infill drilling.
El Quevar is a joint venture with Minera Hochschild under which Golden Minerals has a 65% interest and can earn up to 80% if a feasibility study is completed by November 2010.
Mexico
Zacatecas Project: Muleros, El Cristo and San Manuel - San Gil have been identified as target areas. During 2009 Golden Minerals expects to spend approximately $1.5 million on exploration with the goal of establishing the existence of a deposit.
At the Muleros target area, Golden Minerals has drilled 31 shallow drill holes, or approximately 3,800 meters, intercepting mineralized veins in every hole with results of up to 400 grams per tonne silver over one meter. A program of six deeper drill holes has been completed in selected areas to further test the silver-gold-base metal mineralization identified to date. The six holes gave results of up to 350 grams per tonne silver over one to two meters. All 37 holes intercepted silver-gold mineralization.
During 2009 Golden Minerals plans to drill six deep holes or approximately 3,000 meters at Muleros for an estimated cost of approximately $ 0.8 million.
Exchange Listing
At emergence from Chapter 11, Golden Minerals had approximately 3,200 beneficial shareholders. Golden Minerals is pursuing a listing of its common stock on the Toronto Stock Exchange and trading in the United States in the over-the-counter market or a U.S. national securities exchange.
The Golden Minerals Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6165
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, including statements regarding the continued management of the San Cristobal mine by Golden Minerals Company and anticipated fees, its plan to pursue listing of its common stock on the Toronto Stock Exchange and in the United States, the components of Golden Mineral Company's business strategy, planned exploration expenses and results of exploration activities, planned spending on reorganization costs and expectation that the holders of ASML's notes will receive no additional cash, planned spending over the next 12 months and expectation that such will be funded without further capital raising. These statements are subject to risks and uncertainties, including the ability of Golden Minerals Company to meet the listing standards for any securities market on which it seeks to trade, continuation of the operations at the San Cristobal mine and under the Management Services Agreement, increases in costs of materials and supplies used in mining and exploration activities, results of exploration, financial market conditions and the ability of Golden Minerals Company to raise capital during the next 12 months on acceptable terms or at all. Golden Minerals Company assumes no obligation to update this information. Additional risks relating to Golden Minerals Company may be found in the periodic and current reports filed with the Commission by Golden Minerals Company, including the Annual Report on Form 10-K of Apex Silver Mines Limited for the year ended December 31, 2008.
Cautionary Note regarding Estimates of Measured, Indicated and Inferred Resources: The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this presentation, such as "indicated" and "inferred resources" that the SEC guidelines strictly prohibit us from including in our filings with the SEC. U.S. investors are cautioned not to assume that any or all of measured, indicated or inferred resources are economically or legally mineable or that these resources will ever be converted into reserves. U.S. investors are urged to consider closely the disclosure in our Form 10-K and other SEC filings. You can review and obtain copies of these filings from the SEC's website at www.sec.gov/edgar.shtml
GOLDEN MINERALS COMPANY
REORGANIZED CONSOLIDATED BALANCE SHEETS
(Expressed in United States dollars)
(Unaudited)
March 31, Dec. 31,
2009 2008
--------- ---------
(Successor)(Predecessor)
(in thousands, except
share data)
Assets
Current assets
Cash and cash equivalents $ 24,373 $ 33,723
Restricted cash -- 20,575
Investments 88 16,351
Restricted investments -- --
Trade receivables 185 7,315
Inventories -- 75,008
Prepaid expenses and other assets 1,642 15,550
--------- ---------
Total current assets 26,288 168,522
Property, plant and equipment, net 12,648 202,534
Ore stockpile inventories -- 72,628
Value added tax recoverable -- 157,146
Investments 5,249 5,487
Other 4 30
--------- ---------
Total assets $ 44,189 $ 606,347
========= =========
Liabilities and Shareholders' Equity
(Deficit)
Current liabilities
Accounts payable and other accrued
liabilities $ 8,128 $ 48,861
Accrued interest payable -- 8,660
Current portion of long term debt -- 523,610
--------- ---------
Total current liabilities 8,128 581,131
Long term debt -- 59,951
Asset retirement obligation -- 9,155
Other long term liabilities 483 4,398
--------- ---------
Total liabilities 8,611 654,635
--------- ---------
Commitments and contingencies
Shareholders' equity (deficit)
Common stock, (Successor) $.01 par value,
50,000,000 shares authorized; 2,987,735
shares issued and outstanding 30
Ordinary Shares, (Predecessor) $.01 par
value, 175,000,000 shares authorized;
59,000,832 shares issued and outstanding 590
Additional paid in capital 36,231 680,901
Accumulated deficit (683) (880,020)
Accumulated other comprehensive income
(loss) -- (551)
--------- ---------
Parent Company's shareholder's equity
(deficit) 35,578 (199,080)
Noncontrolling interest in subsidiaries -- 150,792
--------- ---------
Total shareholders' equity (deficit) 35,578 (48,288)
--------- ---------
Total liabilities and shareholders' equity
(deficit) $ 44,189 $ 606,347
========= =========
GOLDEN MINERALS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(Expressed in United States dollars)
(Unaudited)
For The For The
Period Period
March 25, January 1, Three
2009 2009 Months
Through Through Ended
March 31, March 24, March 31,
2009 2009 2008
----------- ----------- -----------
(Successor) (Predecessor)
(in thousands, except share data)
Revenue:
Management service fees $ 211 $ 1,350 $ 1,350
Costs and expenses:
Costs of services (80) -- --
Exploration expense (448) (3,482) (6,192)
Administrative expense (352) (7,496) (6,138)
Depreciation, depletion and
amortization (9) (102) (161)
----------- ----------- -----------
Total costs and expenses (889) (11,080) (12,491)
----------- ----------- -----------
Loss from operations (678) (9,730) (11,141)
Other income and expenses:
Interest and other income 124 997 1,844
Royalty income -- 88 --
Interest expense and other
borrowing costs -- (345) (2,638)
Gain on extingushment of debt -- 248,165 --
Loss on auction rate
securities -- (828) --
Reorganization costs, net (103) (3,683) --
Fresh start accounting
adjustments -- 9,122 --
----------- ----------- -----------
Total other income and
expenses 21 253,516 (794)
----------- ----------- -----------
Income (loss) from continuing
operations before income
(taxes) benefit (657) 243,786 (11,935)
Income taxes (26) (165) (142)
----------- ----------- -----------
Net income (loss) from
continuing operations (683) 243,621 (12,077)
Income (loss) from
discontinued operations -- (4,153) 10,103
----------- ----------- -----------
Net income (loss) $ (683) $ 239,468 $ (1,974)
Net (income) loss
attributable to non-
controlling interest $ -- $ (7,869) $ 27,694
----------- ----------- -----------
Net income (loss)
attributable to the Successor
/Predecessor shareholder's $ (683) $ 231,599 $ 25,720
----------- ----------- -----------
Other comprehensive loss:
Unrealized gain (loss) on
securities $ -- $ 940 $ (568)
----------- ----------- -----------
Comprehensive (loss) income
attributable to Successor/
Predecessor shareholder's $ (683) $ 232,539 $ 25,152
=========== =========== ===========
Net income (loss) per Common/
Ordinary Share - basic
Income (loss) from continuing
operations attributable to
the Successor/Predecessor
shareholders $ (0.23) $ 4.13 $ (0.20)
Discontinued operations
attributable to the Successor
/Predecessor shareholders -- (0.20) 0.64
----------- ----------- -----------
Income (loss) attributable to
the Successor/Predecessor
shareholders $ (0.23) $ 3.93 $ 0.44
=========== =========== ===========
Net income (loss) per Common/
Ordinary Share - diluted
Income (loss) from continuing
operations attributable to
the Successor/Predecessor
shareholders $ (0.23) $ (0.06) $ (0.17)
Discontinued operations
attributable to the Successor
/Predecessor shareholders -- (0.17) 0.55
----------- ----------- -----------
Income (loss) attributable to
the Successor/Predecessor
shareholders $ (0.23) $ (0.23) $ 0.37
=========== =========== ===========
Weighted average Common Stock/
Ordinary Shares outstanding -
basic 2,987,735 59,000,832 58,914,066
=========== =========== ===========
Weighted average Common Stock/
Ordinary Shares outstanding -
diluted 2,987,735 69,171,400 69,292,039
=========== =========== ===========
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Golden Minerals Company
By Staff
CONTACT: Golden Minerals Services Corporation
Jerry W. Danni, Sr. Vice President Corporate Affairs
(303) 839-5060
Should have bought @ 15c. Now trading @ $1.08...I'm seeing 2 MMs on the bid @ 1.08, none on the ask....guess it's in between grey and pink. Grink or prey...?
Officers compensation:
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) Compensation Arrangements of Certain Officers
On April 3, 2009, the board of directors of Golden Minerals Company (the “Company”) approved 2009 salary amounts for the Company’s executive officers. The board of directors also implemented an annual incentive bonus plan which is similar to the plan that was used by Apex Silver Mines Limited, the Company’s predecessor for purposes of reporting under U.S. federal securities laws (“Apex Silver”), and approved the target cash bonus amount that each officer may be eligible to receive based on his or her 2009 performance. The amount of each bonus payment will be determined in the discretion of the Compensation Committee and the board and will be based, among other things, on the Company's achievement of certain performance objectives, including certain capital raising and growth objectives, and control of general and administrative expenses. The salaries and cash bonus targets are consistent with amounts previously reported in Apex Silver’s annual report on Form 10-K for the year ended December 31, 2008.
In addition, on April 3, 2009, the Company’s board of directors granted shares of restricted common stock to the Company’s executive officers pursuant to the Company’s 2009 Equity Incentive Plan. One-half of the shares awarded to each officer will vest on the first anniversary of the grant date and one-half will vest on the second anniversary of the grant date, provided that the officer is employed by the Company on the applicable vesting date. The number of shares granted to each executive officer is set forth in the table below:
Name
Title
Shares of Restricted
Common Stock
Jeffrey G. Clevenger
President, Chief Executive Officer
95,000
Terry L. Owen
Senior Vice President and Chief Operating Officer
25,000
Robert P. Vogels
Senior Vice President and Chief Financial Officer
20,000
Robert B. Blakestad
Senior Vice President, Exploration and Chief Geologist
20,000
Jerry W. Danni
Senior Vice President, Corporate Affairs
20,000
Deborah J. Friedman
Senior Vice President, General Counsel and Corporate Secretary
15,000
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 9, 2009
Golden Minerals Company
By:
/s/ Robert P. Vogels
Name: Robert P. Vogels
Title: Senior Vice President and Chief Financial Officer
http://www.sec.gov/Archives/edgar/data/1011509/000110465909023480/a09-9826_18k.htm
Current propaganda:
INVESTOR HIGHLIGHTS
Financial Structure:
Cash and no debt
Annual gross revenue of approximately $8.0 million
Management Services Agreement
Royalties
Interest from Auction Rate Securities & investments
Revenue covers most of G&A costs
Exploration Portfolio:
45 projects with 3 in intermediate to advanced stage
Diversified and robust portfolio with high potential district scale properties
Projects with potential to become top-tier silver producers
Located in mining friendly countries
Strategic Business Transactions:
Generate value through exploration properties
Strategic business opportunities in under-funded junior exploration space
Mine Services:
Provide management to developing properties
Operating team development for new mines
Mine operations management of San Cristóbal mine in Bolivia with $500 million/year budget accoutility for all aspects of operations management
Experienced management team:
+200 years collective worldwide, multidisciplinary experience
In-house ability to explore, develop and operate mining projects
Ability to leverage mining services for fees and equity interests
http://www.goldenminerals.com/ir.php
apexq now trading on the grey market under symbol gdmn {Golden Minerals Company}. Authorized shares stated as 50M common 10M preferred {none OS}. Common OS is a little over 3 million shares according to a recent {4/30/09} Schedule 13-G filing. Revenues expected to be $8M for managing the mine plus they have other assets. See their website and exploration properties here:
http://www.goldenminerals.com/explor.php
So, 3M shares OS x 15c = market cap of $450,000. Not liking grey sheet stocks, tho...
Item 3.02 Unregistered Sales of Equity Securities.
Pursuant to the Plan, as of the Effective Date, the Subordinated Notes were cancelled in exchange for a pro rata distribution of (i) Common Stock of Golden Minerals, and (ii) approximately $45 million in cash. Each holder of Subordinated Notes received approximately 10.3 shares of Common Stock per $1,000 principal amount of Subordinated Notes. A total of 2,987,735 shares of Common Stock were distributed to the holders of the Subordinated Notes as of the Effective Date. In addition, 12,265 shares of Common Stock have been reserved for potential future issuance in exchange for certain unsecured claims of creditors of Apex Silver. If such reserved shares are not issued to general unsecured creditors under the Plan, they will be issued to the former holders of the Subordinated Notes in a subsequent distribution.
Pursuant to the Plan and the Bankruptcy Court’s order confirming the Plan, the issuance of Common Stock and the exchange of new Common Stock for the Subordinated Notes and general unsecured claims are exempt from registration under state and federal securities laws as permitted under Section 1145 of the Bankruptcy Code.
http://www.sec.gov/cgi-bin/browse-idea?company=Golden+Minerals&match=&CIK=&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany
Yeah, there are many people int he same situation - i read about a group at google (now there is no APXSQ group at google) - they were also starting class action in January. Try this too:
http://www.sec.gov/complaint.shtml
http://law.freeadvice.com/litigation/class_actions/
http://www.lawinfo.com/attorney/Class-Action/
http://classactionworld.com/
http://www.web-access.net/~aclark/current.htm
http://www.lawyersandsettlements.com/
http://www.classactionlawsuit.org/
http://www.myclassactionlawsuit.com/
http://www.web-access.net/~aclark/frames45.htm
Hoewever, it might be not so straitforward.
People who bankrupted the Apex in order to transfer the shareholders rights to bondholders are on the same team that manipulate gold and silver price (buy dumping gold from central banks, naked short selling of futures ten times more than the metal actaully exist and so on,, buy dumping GDX shares - which leads to declines in gold stocks companies etc) .
I bet among the bondholders who will get the new shares are the same oragnizations - Goldman Sux, JP, american and european central banks affiliates and so on. They all didi it together.
So even comaplining to SEC is not very reliable, since it is the same team fo gold manipulators who will turn blind eye.
I actaully wrote to Apex about that they bunch of crooks, they did not answer anything.
The only way is really to give the meat bone to a class action lawsuite lawyer. Poetantilly the stock will cost hundred of billions (when the manipulation eventaully collapse in a couple of years and when the dollar collapse).
SO it may be very sweet pie for a lawyer. Just incite a lwayer on this case, it is probably the best mode of action.
I bought into SIL when it was a $10 stock in anticipation of the gold and silver rush of a deflated dollar *(which still hasnt happened yet). At the time I owned 100 stocks. They stopped trading for about a month and began trading under APXSQ. I bought into 85,000 more stocks to lower my cost basis to .012 per stock. Sensing something bad was going on, I sold 42,500 of those two weeks before they cancelled the remaining shares of APXSQ for .03 per share (a nice return). Their website certainly did'nt mention an exact day or time the stocks would be cancelled. Everyone who got stiffed like I did needs to raise some hell over at Apex Silver by Calling Jerri Danni @ 1-888-696-2739 (Its a free call in the U.S.), and demand shares of the newly formed Golden Minerals in exchange for the canceled APXSQ stocks we got stuck with. Send them an email @ information@apexsilver.com letting them know that they are a bunch of crooks. I have a family to feed, and we do have a habbit of wanting to eat a couple times a day. But we had to cut back on the food bill this month because these bastards are extremely selfish. Remind them that while under Chapter 11 procedings "Naked short selling" is illegal. We will find out whether insider within the company were doing this in aneffort to lure in investors, then drive the price down by selling huge quantities of the stock, and forcing investors to then sell at penny on the original dollar. Let them know that a class action law suit is in the works unless they want to make things right with the loyal investors that have traded their stocks from the early stages of their success.
The common stock of Golden Minerals is expected to commence trading over-the-counter (OTC) on or about March 25, 2009. Golden Minerals expects to pursue a listing on a U.S. national securities exchange and the Toronto Stock Exchange. Stock Charts will be added to this page once available.
http://www.goldenminerals.com/stockcharts.php
What happens to the traders who bought APXSQ this week?
Do they lose their money?
I'll keep an eye on the daily list as it looks like it's coming back as a pinksheet entity at first...
ABIGHAMMER, here is the information. Hasn't started trading yet but will soon, apparently:
On January 12, 2009, Apex Silver Mines Limited (“Apex Silver”) and its wholly-owned subsidiary, Apex Silver Mines Corporation (“ASMC”), filed voluntary petitions for reorganization relief under Chapter 11 of the U.S. Bankruptcy Code (the “Bankruptcy Code”). A Joint Plan of Reorganization, as supplemented by the Plan Supplement filed with the Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) on February 26, 2009 and the Amended Plan Supplement filed with the Bankruptcy Court on March 4, 2009 (collectively, the “Plan”), was approved by the Bankruptcy Court on March 4, 2009. On March 24, 2009, Apex Silver emerged from Chapter 11 protection as a Delaware corporation named Golden Minerals Company, the successor to Apex Silver for purposes of reporting under the U.S. federal securities laws (the “Company” or “Golden Minerals”). The common stock of Golden Minerals is expected to commence trading over-the-counter (OTC) in early April 2009.
Looks like the authorized share count will be 50 million:
Common Stock
The Certificate of Incorporation authorizes the issuance of an aggregate of 50,000,000 shares of Common Stock. Each holder of Common Stock will be entitled to one vote per share. Subject to the rights of the holders of any outstanding Preferred Stock (as defined below), all voting rights will be vested in the holders of shares of Common Stock. Holders of shares of Common Stock will have noncumulative voting rights, which means that the holders of more than 50% of the shares of Common Stock voting for the election of directors will be able to elect 100% of the directors, and the holders of the remaining shares voting for the election of directors will not be able to elect any directors.
http://idea.sec.gov/Archives/edgar/data/1011509/000110465909021389/a09-8934_18k.htm
bank.... does apex have a new symbol for the newly reorganized company? i cant seem to find anything. TIA
SECURITY DELETIONS
Updated Symbol Company Name Effective Date Unit of
Trade Comments
15:44 AMDLF Amada Co Ltd Ord Ordinary Shares 3/27/2009 100 Duplicate; See symbol AMDWF
15:44 APXSQ Apex Silver Mines Limited Ordinary Shares 3/27/2009 100 Plan of Bankruptcy effective on 3/24/09.
APXSQ - Looks like it's time to play again
CNOEVL thanks, I don't think so, all business loses are
deductible from taxes but you never know what kind of
new rules a bolshevikz666evilz elitz-gov. introducez???
so I might be wrong from one day to next -
and the last one I woulds never trust -
is the bolshevikz 666 evilz!
All taxez have been introduced by the 666 bolshevikz in the
first place and is total against the America Constitutions -
Liberty and Freedom - for the people!
Some insite. Is It true that if the company goes bankrupt
and your shares are liquidated that the money lost
is undeductible on taxes??
http://investorshub.advfn.com/boards/board.aspx?board_id=3626
imo. tia.
God Bless
Some insite. Is It true that if the company goes bankrupt and your shares are liquidated that the money lost is undeductible on taxes??
Under the Plan, Golden Minerals Company, a new
Delaware corporation, will hold the Company's assets
upon emergence, and the Company will be liquidated
in accordance with Cayman Islands law.
The current equity holders of the Company will receive
no recovery under the Plan and the ordinary shares of
Apex Silver Mines Limited will be cancelled through
the liquidation process.
--
Tax loss option eliminated when original commons are cancelled
and new ones issued.
Look at what is happening with Washington Mutual,
check out about the NOL, you'll know what I mean.
by terrycarter
--
That's sound like common sense -
new issued -
taking over the Apex tax lose etc. -
God Bless
Tax loss option eliminated when original commons are cancelled and new ones issued. Look at what is happening with Washington Mutual, check out about the NOL, you'll know what I mean.
Silver LT will recover from the banksterz fiatz LT nss manipulationz -
history often repeat itself -
ex..
http://investorshub.advfn.com/boards/board.aspx?board_id=5406
ex..
Apex large tax loss - will be very attractive -
to some with large profits -
at one day in the future -
ex.
silver used to be worth more than gold -
one day with no fiatz -
history may repeat itself -
http://www.888c.com/
God Bless
Thanks, will give it a shot.
Apex Silver Plan of Reorganization Under Chapter 11 Confirmed
DENVER, CO--(MARKET WIRE)--Mar 10, 2009 -- Apex Silver Mines Limited (Other OTC:APXSQ.PK) (the "Company") reported today that on March 4, 2009, the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court") entered an order confirming the Company's Joint Plan of Reorganization (the "Plan"). As previously reported, the Company and its wholly owned subsidiary, Apex Silver Mines Corporation ("ASMC") filed a voluntary joint petition on January 12, 2009, for relief under Chapter 11 of the United States Bankruptcy Code with the Bankruptcy Court (Case Number 09-10182). The Company expects the Plan to be effective on or about March 24, 2009 when a series of transactions contemplated by the Plan, including the sale of the San Cristóbal mine, are completed.
Pursuant to the Plan, the Company will sell to Sumitomo Corporation ("Sumitomo") the Company's remaining direct and indirect interests in the San Cristóbal mine, including its 65% interest in Minera San Cristóbal, for a cash purchase price of $27.5 million, plus $2.5 million in expense reimbursements and the assumption of certain liabilities, pursuant to the Purchase and Sale Agreement dated January 12, 2009 (the "Purchase Agreement") among ASMC, certain other wholly owned subsidiaries of the Company, Sumitomo and one of Sumitomo's wholly owned subsidiaries. In addition, under the terms of the Purchase Agreement and the Plan, the Company will be released from liabilities associated with the San Cristóbal mine, including its guarantee of San Cristóbal's indebtedness. The Company presently anticipates that the Purchase Agreement will be consummated on or about March 24, 2009 in conjunction with, and as a condition to, the Company's emergence from bankruptcy pursuant to the Plan.
As a condition to the closing of the Purchase Agreement, ASMC will enter into a Management Services Agreement with Sumitomo (the "Management Agreement") under which it will provide certain management services to the San Cristóbal mine following consummation of the Purchase Agreement and emergence from Chapter 11 proceedings. ASMC will receive an annual fee of approximately $6.0 million, and a potential annual incentive fee of $1.5 million. The Management Agreement will have an initial term of twelve months and thereafter may be terminated by the Company with twelve months prior notice or by Sumitomo with six months prior notice. If terminated by Sumitomo, ASMC will be entitled to a $1.0 million termination fee.
Under the Plan, Golden Minerals Company, a new Delaware corporation, will hold the Company's assets upon emergence, and the Company will be liquidated in accordance with Cayman Islands law. The current equity holders of the Company will receive no recovery under the Plan and the ordinary shares of Apex Silver Mines Limited will be cancelled through the liquidation process.
Under the Plan holders of the Company's outstanding $290 million of 4.0% and 2.875% Convertible Senior Subordinated Notes due 2024 (collectively the "Subordinated Notes") will be entitled to receive a pro rata distribution of (i) common stock of Golden Minerals Company, and (ii) approximately $45 million in cash plus any other cash or cash equivalents held by the Company in excess of $15 million (plus a reserve for certain projected reorganization expenses), and the Subordinated Notes will be cancelled. Other unsecured creditors will receive cash payments for their claims, up to a maximum recovery of $10,000 per claim, or a pro rata distribution of common stock of Golden Minerals Company. Approximately three million shares of common stock of Golden Minerals Company will be issued to holders of the Subordinated Notes and other unsecured creditors under the Plan.
In addition to managing the San Cristóbal mine as described above, the business strategy of Golden Minerals Company will focus on the advancement of exploration activities on certain properties within a broad portfolio of 45 exploration properties in South America and Mexico. Two of these properties are in intermediate to advanced stages of exploration: the El Quevar silver project in Argentina and the Zacatecas silver and base metals project in Mexico. Golden Minerals Company will also seek to leverage the experience and skills of the management team by performing mine services, including feasibility studies and project development strategies; engineering, construction and procurement management; environmental permitting and corporate social responsibility support; technical support; and operations management. In addition, Golden Minerals Company will actively pursue growth through strategic opportunities, including acquisitions, joint ventures and asset consolidations that can bring synergy to existing assets and leverage the strengths of the management team.
The common stock of Golden Minerals Company is expected to commence trading over-the-counter (OTC) when the Plan becomes effective following the Company's emergence from bankruptcy on or about March 24, 2009. The Company expects that Golden Minerals Company will pursue a listing on a U.S. national securities exchange and the Toronto Stock Exchange. Golden Minerals Company will be the successor to the Company for purposes of reporting under the U.S. securities laws.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, including statements regarding the future effectiveness of the Company's plan of reorganization under Chapter 11 of the U.S. Bankruptcy Code; the timing of the Company's emergence from Chapter 11 and the sale of the San Cristóbal mine to Sumitomo; the continued management of the San Cristóbal mine by Golden Minerals Company, the potential initial trading markets for the common stock of the Company's successor, Golden Minerals Company and the Company's intention that Golden Minerals Company pursue listing of its common stock on a U.S. national securities exchange and the Toronto Stock Exchange; and the expected components of Golden Mineral Company's business strategy. These statements are subject to risks and uncertainties, including whether the closing conditions for the sale of the San Cristóbal mine will be met, the ability of Golden Minerals Company to meet the listing standards for any securities exchange on which it seeks listing, financial market conditions and the ability of Golden Minerals Company to raise capital during 2009 on acceptable terms or at all. The Company assumes no obligation to update this information. Additional risks relating to the Company may be found in the Company's periodic and current reports filed with the Commission.
CONTACT:
Apex Silver Mines Corporation
Jerry W. Danni
(303) 839-5060
Sr. Vice President Corporate Affairs
Source:
Apex Silver Mines Limited
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Apex Silver Mines Limited's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
http://www.apexsilver.com/home.html
--
hi norton, i'm trying to make a good decision.
i think others have more potential.
by mick
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35412702
God Bless
Apex was artificially bankrupted and shareholders rights where transfered to bondholders. I guess bondholders bribed the managtment to do all thiss mess. Do you know who bondholders are?
There are also probably millions of naked shorts.
So, what to do?
Try this, will not hurt:
http://www.sec.gov/complaint.shtml
http://law.freeadvice.com/litigation/class_actions/
http://www.lawinfo.com/attorney/Class-Action/
http://classactionworld.com/
http://www.web-access.net/~aclark/current.htm
http://www.lawyersandsettlements.com/
http://www.classactionlawsuit.org/
http://www.myclassactionlawsuit.com/
http://www.web-access.net/~aclark/frames45.htm
SOURCE: Apex Silver Mines Limited
Mar 10, 2009 19:10 ETApex Silver Plan of Reorganization Under Chapter 11 Confirmed
DENVER, CO--(Marketwire - March 10, 2009) - Apex Silver Mines Limited (PINKSHEETS: APXSQ) (the "Company") reported today that on March 4, 2009, the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court") entered an order confirming the Company's Joint Plan of Reorganization (the "Plan"). As previously reported, the Company and its wholly owned subsidiary, Apex Silver Mines Corporation ("ASMC") filed a voluntary joint petition on January 12, 2009, for relief under Chapter 11 of the United States Bankruptcy Code with the Bankruptcy Court (Case Number 09-10182). The Company expects the Plan to be effective on or about March 24, 2009 when a series of transactions contemplated by the Plan, including the sale of the San Cristóbal mine, are completed.
Pursuant to the Plan, the Company will sell to Sumitomo Corporation ("Sumitomo") the Company's remaining direct and indirect interests in the San Cristóbal mine, including its 65% interest in Minera San Cristóbal, for a cash purchase price of $27.5 million, plus $2.5 million in expense reimbursements and the assumption of certain liabilities, pursuant to the Purchase and Sale Agreement dated January 12, 2009 (the "Purchase Agreement") among ASMC, certain other wholly owned subsidiaries of the Company, Sumitomo and one of Sumitomo's wholly owned subsidiaries. In addition, under the terms of the Purchase Agreement and the Plan, the Company will be released from liabilities associated with the San Cristóbal mine, including its guarantee of San Cristóbal's indebtedness. The Company presently anticipates that the Purchase Agreement will be consummated on or about March 24, 2009 in conjunction with, and as a condition to, the Company's emergence from bankruptcy pursuant to the Plan.
As a condition to the closing of the Purchase Agreement, ASMC will enter into a Management Services Agreement with Sumitomo (the "Management Agreement") under which it will provide certain management services to the San Cristóbal mine following consummation of the Purchase Agreement and emergence from Chapter 11 proceedings. ASMC will receive an annual fee of approximately $6.0 million, and a potential annual incentive fee of $1.5 million. The Management Agreement will have an initial term of twelve months and thereafter may be terminated by the Company with twelve months prior notice or by Sumitomo with six months prior notice. If terminated by Sumitomo, ASMC will be entitled to a $1.0 million termination fee.
Under the Plan, Golden Minerals Company, a new Delaware corporation, will hold the Company's assets upon emergence, and the Company will be liquidated in accordance with Cayman Islands law. The current equity holders of the Company will receive no recovery under the Plan and the ordinary shares of Apex Silver Mines Limited will be cancelled through the liquidation process.
Under the Plan holders of the Company's outstanding $290 million of 4.0% and 2.875% Convertible Senior Subordinated Notes due 2024 (collectively the "Subordinated Notes") will be entitled to receive a pro rata distribution of (i) common stock of Golden Minerals Company, and (ii) approximately $45 million in cash plus any other cash or cash equivalents held by the Company in excess of $15 million (plus a reserve for certain projected reorganization expenses), and the Subordinated Notes will be cancelled. Other unsecured creditors will receive cash payments for their claims, up to a maximum recovery of $10,000 per claim, or a pro rata distribution of common stock of Golden Minerals Company. Approximately three million shares of common stock of Golden Minerals Company will be issued to holders of the Subordinated Notes and other unsecured creditors under the Plan.
In addition to managing the San Cristóbal mine as described above, the business strategy of Golden Minerals Company will focus on the advancement of exploration activities on certain properties within a broad portfolio of 45 exploration properties in South America and Mexico. Two of these properties are in intermediate to advanced stages of exploration: the El Quevar silver project in Argentina and the Zacatecas silver and base metals project in Mexico. Golden Minerals Company will also seek to leverage the experience and skills of the management team by performing mine services, including feasibility studies and project development strategies; engineering, construction and procurement management; environmental permitting and corporate social responsibility support; technical support; and operations management. In addition, Golden Minerals Company will actively pursue growth through strategic opportunities, including acquisitions, joint ventures and asset consolidations that can bring synergy to existing assets and leverage the strengths of the management team.
The common stock of Golden Minerals Company is expected to commence trading over-the-counter (OTC) when the Plan becomes effective following the Company's emergence from bankruptcy on or about March 24, 2009. The Company expects that Golden Minerals Company will pursue a listing on a U.S. national securities exchange and the Toronto Stock Exchange. Golden Minerals Company will be the successor to the Company for purposes of reporting under the U.S. securities laws.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, including statements regarding the future effectiveness of the Company's plan of reorganization under Chapter 11 of the U.S. Bankruptcy Code; the timing of the Company's emergence from Chapter 11 and the sale of the San Cristóbal mine to Sumitomo; the continued management of the San Cristóbal mine by Golden Minerals Company, the potential initial trading markets for the common stock of the Company's successor, Golden Minerals Company and the Company's intention that Golden Minerals Company pursue listing of its common stock on a U.S. national securities exchange and the Toronto Stock Exchange; and the expected components of Golden Mineral Company's business strategy. These statements are subject to risks and uncertainties, including whether the closing conditions for the sale of the San Cristóbal mine will be met, the ability of Golden Minerals Company to meet the listing standards for any securities exchange on which it seeks listing, financial market conditions and the ability of Golden Minerals Company to raise capital during 2009 on acceptable terms or at all. The Company assumes no obligation to update this information. Additional risks relating to the Company may be found in the Company's periodic and current reports filed with the Commission.
CONTACT:
Apex Silver Mines Corporation
Jerry W. Danni
(303) 839-5060
Sr. Vice President Corporate Affairs Click here to see all recent news from this company
http://www.marketwire.com/press-release/Apex-Silver-Mines-Limited-959702.html
So what can we do now, can we file a lawsuit against them or something, I'm down about ten grand and it hurts big time. I really think something else was in play here, they were pretty liquid and I don't understand why they had to file bankruptcy, they could have just diluted the existing common and gives those to the debt holders. Any thoughts???
Question to all "knowers" look like 3.8M shares are shorts on Apex. In case the stock is definitively delisted, do shorters need to buyback ? Sorry but I live in France and I don't know much about US markets rules !
Is March 16 the day the Stock will be delisted or is it possible it might run on after? I got in a 5 cents hoping that they could work things out. Im not getting a warm and fuzzy feeling. More like riden hard and put away wet.
Yesterday I put a buy order 20000 for 1 cent.
Despite at the end of the day almost 1500000 were transacted at 1 cent, my order was not filled.
Looks like somebody just shuffles the shares back and forth to lure real investors to sell.
It's easy to do - sell 1 million for 1 cent all or none, buy 1 million for 1 cent all or none. With good timing you just sell
to yourself. But the price is recorded as a last trade. Everybody else drops their shares in despair for pennies.
If a person bought a year ago for 10-15 dollars, now sells for 1 cent...
What a recovery!!!
I think a lawsuit is a better way to get something back. My lawyer thinks so too.
All the information they send to you is just junk - outdated. The important information did not appear on the web site on time.
By the way it is one more thing for claiming deliberate disinformation of investors.
Its me. At least I received a prompt reply. Here is what he wrote.
Mr. Cino:
On January 12, Apex Silver Mines Limited, and its wholly-owned subsidiary, Apex Silver Mines Corporation, filed voluntary petitions for reorganization under Chapter 11.
Our common stock was delisted from NYSE/Amex due to chapter 11 filing and not compliance with listing standards. Stock is currently trading on the pink sheets (www.pinksheets.com) under the symbol APXSQ. We cannot anticipate the level of liquidity or stock price.
Current Apex shareholders would have a zero percent (0%) recovery in a liquidation. Such Holders would also receive nothing under the Plan of Reorganization.
If you have additional questions you can access our website (www.apexsilver.com) where information about the Chapter 11 filing is updated permanently. On our home page, under “Chapter 11 Information Updates” you will find a link to the Claims Agent and to Court documents, as well as a link to Investor frequent asked questions.
Regards,
Pablo Castanos
Ive looked but cant find anything that can substanciate or give me any resolution.
Basicly we aren't "in" the plans for reorganization
WTF
Looks like the crooks sell shares to each other to keep the bid price low and to lure others. Why otherwise anyb0dy would sell
500 shares for 1.5 cents.
Also were would they get 100 000 after all those selloffs?
400000 - almost 1% of the company.
Either crooks or naked shorts. How will they cover naked shorting?
I just put limit sale 1 dollar per share - good until cancelled. Bite the bait.
I think that was excellent Josh. It was a diplomatic, sincere, and heartfelt expression of how we all feel.
There are undoubtedly some constraints on what he can say to anybody, but I hope he can reply in some fashion to at least acknowledge our concerns.
He might not be able to do anything about it, but a simple acknowledgment would be nice. Hope you get the reply. Thank you for doing that, and best regards.
GLTA !!
Action Lawsuit for Shareholders.
At this point there is nothing left to sell for.
The silver above groung is very rare now. The price is artificaiily held down for too long.
I bet APEX was bankrupted to seize the silver properties because there is permanent Backwardation in silver on LBMA already. Soon it will be the same on NYMEX.
According to Antal Fekete it implies silver not for sale at any price ( infinite price)
But let's say silver will be 100 per ounce in a couple of years. Then how much would be the APEX share price? 100? 1000?
So, then what has happened?
Apex was almost 20 USD a year ago - 50 millions shares (very rare for a gold silver-company, especially a big one).
Total- 1 billion.
Now it cost 1 million total for everything - including those huge trucks on the pictures.
If they woudl just issue 20 millions shares for 20 USD a year ago, they would not need any loans, they took before.
It obvious that there was deliberate fraud and driving the price down. Especially considering that as recently as last summer they told that the price will be at least 14 USD
I bet there is huge number of naked shorts (with order from the crooked managemnet) are sitting and wating to cover the shorts. They will bash everything. Sell, sell - they yell.
They need to cover. How about shorting squueze?
Basically the company was taken from shareholders and given away to crooks.
Well, I think, it is useless now to wait any communication from the crooks.
probably I would better give 5000 of the cancelled shares to my lawyer in a couple of years and ask him to help to bring the class action lawsuit.
The property rights ( I mean the land) cost many many hundreds of billions (you will see it in a 2-5 years).
Then we will see if the lawyer can get something out of this or not.
Maybe long bet, but worth to try.
How they can cancel the shareholders right is not very clear - shareholders own the company, not the crooked management.
Another Enron- Madoff trial
http://news.silverseek.com/TedButler/1235407708.php
http://www.nolanchart.com/article5832.html
http://www.marketoracle.co.uk/Article4796.html
http://lbma.org.uk/?area=stats&page=sifo/2009sifo
http://www.prisonplanet.com/banker-manipulation-of-gold-and-silver-prices-further-exposed.html
Action Lawsuit for Shareholders.
Current Status...
Once Apex emerges out of bankruptcy, the new company will be named Golden Minerals, Inc.
Current shareholders get nothing.
This is per the news from djnewsplus.com
If you have etrade pro, look up news for apxsq and you will see this post. Read the whole thing.
All in all, judge approved the plan.
The sale of its share in San Cristobal and a debt for share with bondholders is how they will emerge out of BK.
Current shareholders get notta!!!
Take this for a ride and push the sell button when you can IMO.
And wait for the new company to release its new stock. Then jump in and take that one for the ride...IMO!
GL to all...
I have emailed Pablo hoping he will have the courtesy of a follow up on our concerns. This is what I sent him.
Hi my name is Joshua Cino. I am sure you understand there has been alot of concerns from shareholders on wether or not we are coming along for the reconstruction of Apex Silver Mines. Could you please shed some light on this subject regarding this matter or redirect me as to where I can get a better idea on the matter at hand. Thank you for assisting and reading my email I speak on the behalf of many concerned investors who believed in supporting your endeavours.
I will let everyone know weather or not I get a reply
Followers
|
14
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
1042
|
Created
|
02/04/09
|
Type
|
Free
|
Moderators |
San Cristobal silver-zinc-lead project, located in the Potosi district of southwestern Bolivia, is one of the world’s largest open-pit silver deposits. It hosts an ore body which contains approximately 450 million ounces of silver, eight billion pounds of zinc and three billion pounds of lead in proven and probable reserves. Exploration potential is considered excellent as the main ore body remains “open” both laterally and to depth with numerous satellite targets existing within the San Cristobal district.
In addition to San Cristobal, Apex Silver holds an extensive portfolio of exploration properties located primarily in the traditional precious metals-producing regions of Argentina, Bolivia, Mexico and Peru.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |