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I have time on my hands and I enjoying exposing BS for what it is. AFYG, NBRI, MISM, NMEX, CGFI they are all recipes for massive shareholder losses, nothing more.
Difference is I am making money. What is it you gain?
The intelligence of your posts speak for themselves. You consider DD to be posting the same press releases and filings over and over and the over again. Sorry son that is not DD.
You say that anyone that calls out scams is a "failure in life" well what does that make someone who lives on ihub and is a cheerleader for scams like you are for AFYG? Does that make you a winner in life?
Just curious if you knew who the guy was. $AFYG not a pump. Just
spreading around the DD and facts being released into the market.
So I guess you don't know who this Teddy is? Interesting. Sort of
sounds like a threat you made in your post there... I'd be careful
with those. Threats are serious deals here on IHUB.
Does the name hit a nerve or something? Throwing around names...
I can throw around a lot of names, although since you're in Canada
you may be closed off from the rest of the world.
Who said there was billions in the ground? Not me. Good luck with
your one man crusade. If you feel so strongly about helping people
and saving them from these mining scams, why not go to law school
and sue them. All it takes one good threat of a lawsuit and most
scams will shut their doors.
All you tards claiming to be revealing mining scams on the OTC
are just real life failures IMO.
Good luck, jstorm.
No and throwing names around probably isn't the wisest thing but hey your posts never indicated you were wise in the first place.
How is your AFYG pump going? Seems to have disappointed the market despite the big news that hit the wires yesterday, wasn't that supposed to capitulate this scam to the moon or something? Remember "billions in the ground" must be the naked shorts LOL.
jstorm, does the name Theodore DeMatties mean anything to you?
Geologist. Seems to know what he's talking about... Any ideas?
BONZ is another suspected fraud.
Reasons:
1. NO gold ever produced despite multiple claims of production.
2. They've sold out to a company associated with a convicted scam artist who only escaped jail (for now) due to his bad health.
3. Silence from BONZ.
4. An UN-updated website showing photos implying production that is not going on.
5. Persistently WRONG share structure shown on the website. There are a lot more shares than they show.
Not really, I sold NBRI at .13 years ago. Just interested enough to watch it.
Thats not an IHUB ad. Its Google. IHUB is one of the sites that carries Google ads. But so what? Are you saying a company should not advertise or market itself? How silly.
A shareholder was just out there to visit the mine and spent a lot of time at the office. The pictures and reports are on the NBRI board if your that interested. This has been verified so give it a rest.
That must be a busy office at:
Provide proof of anything please.
Post the proof he is selling stock to pay his bills. I'll help you out 1 time 2 years ago he sold a small position about 1%-2% of his holdings that's it nothing else. I guess that mortgage payment is beyond due at this point.
Post proof that a CEO must have an office near one of their mines or its a red flag. 99% of all the gold mine companies on the planet do not have their main corp office next to the gold mine. And yes its his house. We don't need to spend additional money on this by paying for a new office building. The Ruby office in CA is all that's needed.
You have posted dozens of posts but have failed to prove one accusation.
What you are stating is your opinion and you happen to be wrong about most of the stuff you are posting.
I am done with this argument with you. In my opinion you have proved your intent far better than I could.
If the CEO is in Pennsylvania why bother to provide a California address? Obviously he is working from home.
You all tout about how he doesn't take a salary, that's because he sells stock to pay the bills.
It is the typical story, he'll run this out as long as he can and Ruby will fail, shareholders will be diluted out, he'll move on. Pretty simple.
The company office for the Ruby mine is:
Ruby Gold, Inc.
571-C Searls Ave.
Nevada City, CA 95959
Can you explain how he is making his mortgage payment when he has never drawn a salary?
I don't mind factual debate but tossing around nonsense hateraid is not welcome.
I point out with NBRI that they spend shareholder money to advertise on iHub.. if that isn't a red flag of misguided leadership I don't know what is. Also, when the CEO works from home and can't afford a corporate office yes it is a hobby company that pays his mortgage.
That is not ridiculous, that is the truth.
When you are down 80% on your investment though I suppose you don't want to hear that- you are more focused on sucking in new dumb money so you can recoup your losses and dump the stock on them.
Could care less what you think.
Jstorm,
Yeah of course some of these people will be pissed off. The way you post nonsense on some good company boards is not the intent of this board.
Your posts on NBRI this morning are ridiculous and juvenile. I guess if you have no proof a gold mine company is a scam you just switch to beating up the fact the owner has a home office, and the 2 year performance of the PPS matched the 2 year performance of GDXJ.
If you have some proof that NBRI is the kind of scam this board intends to expose then fine expose away. But your last 20 posts on NBRI are anything but based in fact.
Your response fails to do anything but circumvent the accusations. Much expected.
The important thing like you say is to sniff out the DOGS. <<<<I think your sniffer is broke..
And let's not forget NMCX!
Also, if you look closely at the Officers & Attorneys involved, it's quite the tight family of scammers that hang together.
Don Paradiso is the attorney of record on about five of them, clearly a scumbag too.
You can add GDSM, ILST to the list of mining scams as well. Complete hogwash.
LONE STAR GOLD INC (LSTG)
- A one man show led by scamster Daniel Ferris who as usual has no prior experience in the mining industry. He is a successful “PR & Marketing Man” according to his bio. Sounds about right.
- Touting an early-stage property and a tailings project in Mexico. Little to no information on the property, the company is more focused on other major mining companies who operate in Mexico (WOW there are others really??) in a not-so-subtle hint that they could be a takeover target (yea right!).
- Last 10-Q shows $0 in cash and $109,000 in account payable.
- A $50,000 toxic convertible debt note on the books from KVN Capital Partners. Also a $53,000 toxic convertible note on the books from well-known scammer Asher Enterprises. Both due December 15, 2013. KVN shares will be issued at a 35% discount to market and Asher at a 45% discount. Both will be dumped into the marketplace after lining up a new IR promo.
- No press releases since May 2013. When news starts coming out again in early 2014 will likely be beginning of next pump and dump.
- Received a hard mailer last year promoting the stock during last pump and dump claiming $22 billion in value on their properties.
- Pretty straightforward- nothing happening here but a paycheck for Daniel Ferris. Likely gearing up for another pump and dump in 2014 after debt converts to new paper. Sickening.
That is a great idea.
I think you bring up a great point and that is that reporting status is cheap. The value (or DOG) of a company lies in the management team and mineral resource, among other things.
Excellent idea! Someone also asked "what makes a scam" - that is something that needs to be hashed out as well. I think it is as simple as having the intent to deceive, and being a pinkie puts you there automatically.
Not hard to sniff 'em out when they're mostly all "dogs". I think you will find that most of the regular posters on the Mining Board do not play penny stocks, and take a pretty skeptical eye towards penny stock mining companies in general. Particularly the pinks, of course.
Interestingly, most of the ones I follow the closest are not pinks. I find it fascinating that even SEC-reporting companies manage to perpetrate fraud on an impressive scale.
You might consider approaching this in the reverse and cataloging OTC mining companies that are NOT scams. Prolly not as fun but youll cut to the chase by focusing on legitimate opportunities. Separate the wheat from the chaff instead of getting in the mud with the rest of the lot. FWIW.
I hear it is a good board, in fact I already threw some input in on a stock being talked about over there. Certainly the two can compliment each other. The important thing like you say is to sniff out the DOGS.
rbtree - yes, there is a board already focused on penny stock mining scams.... http://investorshub.advfn.com/boards/board.aspx?board_id=21803
In addition to posting intel on mining scams, general mining news is often posted (thanks to 1manband and a few others). I wouldn't necessarily say this new board is not needed, I think we can say we wholly support its objective. However, just need to figure out how to make the best of two boards with similar goals.
You can add these to your list of scams in progress - GDSM, BONZ, SRCH, HMNC. Of these, GDSM, BONZ and HMNC are on their last legs, but SRCH is still going strong. SRCH has pulled in $30-$40 million over the last 7 years, and has to rank pretty high on the list of successful mining scams in this State. GDSM and BONZ involved gold placers in Skull Valley and Congress, AZ, SRCH is a smelter slag pile in Clarkdale, AZ, and HMNC is a tailings pile in Chloride, AZ. GDSM has made a switch to oil wells but nobody is fooled.
As you can see, I focus on Arizona scams but have taken an interest in a few others, including one in Zimbabwe (a supposed "world class" barite mine).
That is a very good point you guys brings up, just requiring audited financials would put many of these scams to bed- in all industries, not just mining.
You are correct the SEC has been contemplating something like NI reporting standards, however I first heard about it back in 2010 so it is doubtful we will see anything anytime soon.
I concur storm, however, forcing them to carry Audited Financials along the way is a must. Claims of $500K in the bank just because they say there is just as bad as claiming there are Billions in the ground if neither are actually true.
It's my understanding that the SEC has already adapted a form of this and is looking to implement it in mid 2014. Can you imagine how many of these SCAMMERS will have to go get REAL jobs?
Happy Holidays RB!
Coyote Resources (COYR)
RED FLAGS-
- CEO Guy Martin experience is in residential remodeling (?) and tourism. The one executive who actually did have experience, Howard Lahti, resigned in August (http://www.sec.gov/Archives/edgar/data/1392121/000146929913000164/coyoteform8k082513.htm). Funny the website has not been updated to reflect this.
- Business model wise, COYR has plans to process dump (tailings) material, which is always questionable as grade can very significantly.
- No work has been done to test metallurgical recovery levels, they are relying on historic reports
- Existing shafts will need to be de-watered before the company can access them. This is a huge cost outlay and almost always comes with delays from my experience. This simply means actual ore ever being processed from the historic mine is a pipe dream.
- Last news release put out by the company was in May during when promo was running (http://www.coyoteresourcesinc.com/news/news_releases/2013/05/coyote-resources-announces-development-plan-for-tonopah). The announcement was that COYR has prepared a “development plan” for he Tonopah mine, which obviously never began.
- The company has $6,500 in cash and nearly $2 million in liabilities (http://www.sec.gov/Archives/edgar/data/1392121/000146929913000169/coyoteform10q063013.htm). $1.1 million is convertible debt, which could set the stage for another promo in 2014.
$COYR
Just joined the board, nice info. I will avoid afyg but now wonder about info posted by one player on another board. I made bank on two gold stocks pcfg & pglc. Figured out the first was a scam and the 2nd got expensive to value. Might or might not make it as cost to produce is high.
Add EXLA, same "mine" and players as ALTO, which was sanctioned by the SEC. The property will never fly.
I don't think SEC 7 is a viable solution for junior exploration companies. If you look at the way SEC 7 was wrote, it is geared towards majors.
National Instrument standards, or even JORC in Australia for that matter, allows smaller exploration companies to progressively build up confidence in their projects through a staged approach.
It would no doubt eliminate the "billions in the ground" type claims and provide a bit of accountability to the OTC markets.
The US does. Industry Grade 7 standards are similar to the 43-101 used for SEDAR filers.
But in Canada and other countries, ALL public companies must file audited financials. The OTC market is unique in that companies don't have to report to the SEC, and thus can often get away with saying anything they damned well please. The good news is that the SEC is slowly taking notice and stepping in.
A trend that is very likely to continue.
This board isn't really needed, as we have a good one already.
And just about every non reporting mining company is either a scam, or will never amount to a hill of beans.
I can add a slew of scams, some dead or dying....
OODH
TWDL
ILST
GDSM
for starters
I must concur wholeheartedly, once the SEC gets off their ass and does something about it, these crooks will continue their charades.
It is truly sad that others think lying and stealing from people is the norm....
GLTY
Don't forget MISM also had one of the world's largest deposits of Rhenium at El Dorado! LOL yeah right.
The fact that these companies can make outrageous claims like this is what attracts the scammers to this industry. If the U.S. had something, anything, similar to the Canadian National Instrument reporting standards it would help very much deal with scams like MISM.
I think the broader issue is however that a lot of the people trading these stocks know it is a scam and are just trying to make a quick buck so they quite frankly don't care.
That is why when you ask semi-tough questions about the companies on these boards (like hey has the company done a feasibility study to show the project will actually be profitable?? The answer is always NO) you quickly attacked and insulted by the investors trying to make that quick buck.
Sad society we live in.
If these SCAMMERS would just try to be honest, there probably wouldn't be anyone pissed off. The lies 99% of penny market mining scams bring to the table are incredible.
I mean MISM claimed they had over 1/7th of the WORLD'S gold in the ground however could not find funding from anyone to mine it. LMFAO! Any REAL mining company would have bounced at the chance, and paid for the entire infrastructure if that number was even 1/1000th of the claim.
What amazes me more is what people will believe in this pathetic market, then get pissed at the person who blows the whistle, as if they were "Unaware" it was a SCAM. LOL
GLTY
Hanging in your closet! lol
The SEC will take care of this ridiculous market soon enough. The SEC paid REAL close attention to what happened in Canada when they got rid of EVERY non-reporting company in their market.
Probably mid 2014 this will take effect here, get yours while you can, it'll be over soon for the 99% of POS phony companies in this market.
GLTY
Glad to hear and looking forward to exposing the crooks. I imagine there will be a lot of people pissed off but it comes with the territory.
With at least a dozen mining company scams stealing investor's money, this should be a good board.
There are several scam busters that will contribute.
It must suck... premium board, free membership?
Nice board here. A one man Army out to save the OTC world from
evil mining scams.
LOL
Where's your cape? Blue tights?
FOOL'S GOLD!
The mining sector seems to be targeted heavily by scammers.
Always has been and always will be.
If you suspect a mining company might be a scam, report it here and receive DD + feedback.
Some of the most obvious RED FLAGS include:
- Companies that are touting alluvial-type gold deposits, especially in Latin America
- Companies that claim to have new technology that no one else has
- Management team with little to no direct experience in the mining industry
- "gagged TA" i.e. the transfer agent will not release info on the share structure
- Companies that are non-reporting or have an E at the end of their ticker symbol
- Accusations of having "mineral reserves" or "N.I. 43-101 resources" that cannot be confirmed
- Companies claiming to be a takeover target of Majors
- Companies with UPS/P.O. Boxes or Las Vegas-based addresses
- Anything you learned about from a mailer!
HALL OF SHAME
PAST SCAMS | ||
Constitution Mining (CMIN) | Punchline Resources (PUNL) | North Spring Resources (NSRS) |
Liberty Silver (LBSV) | Portage Resources (POTG) | Nevada Gold Corp (NVGC) |
WATCH LIST | ||
Lone Star Gold Corp (LSTG) | Coyote Resources (COYR) | American Mineral Group, Inc. (SUGO) Ran a pump and dump in 2012 under Sungro Minerals (SUGO). Completed name change and reverse split (1 for 125 lol) in April 2013. Looks like they are revving up for another pump n dump under the new name.Last 10-Q from 2012 shows no cash and convertible debt on the books,. The debt will be issued at a 40% discount to the share price. It is likely being converted now in preparation of a new promo during the first few months of 2014. Being heavily touted on iHub by "trader53" who must be in on the upcoming scam. Read some of his ridiculous posts here, here and here. |
This former pump n dump looks like it could be revving up for another run. Volume starting to pick up and next scam may revolve around placer properties in Nicaragua. Watch out. CEO Daniel Hollis is connected to this scam and SHMX as well. | Disovery Minerals (DSCR) The pump is lining up an iron tailings sccam, claiming it will provide quick rewards to shareholders (just like in the past right?). Nice tight share structure with one billion shares in float LOL 1.6 billion shares outstanding with 1.3 billion restricted. CEO Russell Smith owns 1 billion of the shares which will become unrestricted in 2014. Look for him to line up another pump so he can dump his shares and book millions in proifts while investors gets duped. | Silver Falcon Mining (SFMI) This long running pump is ramping up for another run. Just announced plans to write 43-101 report (not possible) that will no doubt outline "billions of dollars worth of minerals" just about the time the pump starts. The company also was recently also lost title to its Diamond Creek Mill and was ordered to pay $567,0000. This one likes to hide behind its QB status, but don't be fooled massive pump and dump is on the way. |
IN PROGRESS | ||
Affinity Gold (AFYG) | Mission Mining (MISM) | Northern Minerals & Exploration (NMEX) |
Colorado Resources (CGFI) A long-rnning sham that has milked millions from investors. The company favors the well known sham of converting debt at ridiculously low prices, running promos, and dumping the shares. Rinse and repeat. | North Bay Resources (NBRI) NBRI has been working towards production since, well forever... always with the excuses... fact is NBRI is and always will be a recipe for epic failure and shareholder dilution LOL. | Seachlight Minerals (SRCH) A scammer that hides behind QB status for now but not for long...this one has multiple nice runs to rip investors off... a reall bright star for the industry LOL.. |
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