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.
GQMNF: effective April 2,2020:
Falco Resources Ltd has acquired all of the issued and outstanding common shares of Golden Queen by business combination. In connection with the arrangement, Golden Queen shareholders received 1.35 of a common share of Falco in exchange for each common share of Golden Queen.
FINRA will delete the symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
GQMNF (.14) Golden Queen saw a 22.2% drop on no apparent news today.
Anybody old timers still around?
Any ideas why that might have happened ?
Thanks guys.
GQMNF: effective July 26,2019 Golden Queen Mining Ltd. will change to Golden Queen Mining Consolidated Ltd. and a one for 10 reverse split:
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
Guys we are not dealing with some nice people here. Notice the repeated threats here including from the proxy people that if we don't comply they will go into bankruptcy. I voted against the Clays because of it in a vote of no confidence. In the mean time if the stock goes any lower I am buying more of it. First, a ch. 13 bankruptcy would not be that bad for the mine. Ch 11 I think unlikely as since the Clay';s had a fiduciary responsibility to us they might have some legal problems with that one. The stockholders paid a lot more into the mine than they did. It leaves it operating and the Clay's not being able to collect their deb for a while. But the ploy has already worked and they will likely win their bet. Then because there are fewer shares the stock will have to rise so they can take in some money selling more stock. This means they will have to produce a little gold and it is about time.
Note that they are ramping up with a much larger crusher and upgraded leaching. I live a short way from the mine and also have worked in and out of gold mines for 35 years as I used to sell into Nevada mining companies. This mine is showing huge activity and they have no intention of shutting it down with bankruptcy because they are coming into gold. We have just not been told it in a nice way. Could they say hey "here's the good news" and I would have no animosity toward them, but no they are a bitch of a group. Their scare tactics worked and the stocks are way down, but vote no on the reverse split. It will make the stock go up slower and increases the risk of further drops. But if they win and they reverse split it, remember this that a light stock will bounce easier including upward at first because there is resistance to shares being sold cheaply when there are few shares.
A Second Proxy Advisor, Glass Lewis Recommends Golden Queen Shareholders Vote FOR the Transaction 6:30 am ET May 6, 2019 (PR Newswire)
Golden Queen Mining Co. Ltd. (TSX:GQM, OTCQX:GQMNF) ("Golden Queen" or the "Company") is pleased to announce that a second independent proxy advisory firm, Glass Lewis & Co., LLC ("Glass Lewis"), has recommended that shareholders vote FOR the Transaction Resolution.
Glass Lewis' endorsement follows a report by another leading independent proxy advisor, Institutional Shareholder Services Inc. ("ISS"), that also recommends shareholders vote in favour of the Transaction Resolution. Golden Queen disclosed ISS' recommendation on May 2, 2019.
Glass Lewis is an independent, third party, proxy advisory firm who, among other services, provides proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.
In their report Glass Lewis states "Though the implied transaction value seems less attractive than the Company's unaffected trading value, the alternative - bankruptcy - is certainly the least appealing option for disinterested shareholders. We support the independent board's unanimous assessment that the proposed transaction represents the only reasonable path forward for shareholders. We recommend that shareholders vote FOR this proposal"
We remind shareholders that the cut-off for voting is 10:00 a.m. (Pacific time) on May 9, 2019.
I wonder if the shareholders have nothing to do with the this mine, why I got a proxy vote for it???
You elected to receive shareholder communications and submit voting
instructions via the Internet. This e-mail notification contains
information specific to your holding in the security identified below.
Please read the instructions carefully before proceeding.
Important Notice Regarding the Availability of Proxy Materials
for the Shareholder Meeting
2019 GOLDEN QUEEN MINING CO. LTD. Annual And Special Meeting of Stockholders
I think they are asking to sell the mine in the vote...
MADLONG2029
Do you even know we shareholders have nothing to do w/this mine anymore?
Do you even know we shareholders have nothing to do w/this mine anymore?
You are welcome. I am doing this so the stock holders will stop giving their stock away and let the prices rise so we can recoup and make a profit. I expect with successive quarters now we should see improvements in profit for the mine. Nobody hauls that much rock for no reason and the stock is undervalued. Last I saw they were making gold for around $900 oz. so they are on track to meet their expectation of production cost when they get their leaching volume up and start seeing the gold after the 180 day delay. I would be very disappointed if we didn't see at least 25 c. stock within a couple of months and higher later. Richard
Thank you for this!
That's the rub. Ever since the Clay's announced their take over of the Queen the public stock holders have panicked. But as I read it the Clay's have taken over the half partner from Toronto in exchange for forgiving the debts. They paid a little under 50 million for this including the 4 million or so they had to pay based on some stock equity there at 3 cents a share.
In exchange there is now no debt for the company and the Clay's fully own 1/2 of the mine. The other half is owned by OTC traded stocks and they do not have the authority to force a sale at this time. The only way they could take our stocks would be to declare bankruptcy and go through the courts. The SEC might then have something to say about it considering that the same people who just took over the company also were running it. It would be considered insider trading.
Notice that while they have paid 50 million the total current value of the other half of the company is under 10 million based on stock prices. The stock should be going for 5 times what it is being traded for based on the panic. I was disturbed that they held back the 4th quarter report and a first quarter report is due in a few weeks. Look at the numbers.
The high grade ore takes up to 180 days to show gold extraction with the leeching. They mined 4.5 million tons of ore but are holding 1 million tons back containing at least 25,000 ounces of gold. I drove by it and their leach pad has grown huge over the last few months and they are processing and moving lots of ore. They have exposed a high wall that is est. 3/4 miles long. We are not getting the figures from the company but there is a lot of gold in process and lots more ready to process. This is not a bankrupt company but instead is ramping up and the balance sheet shows it with expenses in exposing ore and new trucks and drip upgrades. I am as long on this company as that longwall they have exposed of high grade ore. Richard
Do you even realize about the Share Purchase Agreement?
They had to keep the stock prices low or pay more. Remember there is the first quarter report due out in a little over a month. Then analyze the year end. Conclusion: ramping up and profit lag 1. Took top off mountain to access the high grade. Have identified new veins and gold grade good. 2. now making gold at 900 oz- and dropping. 2. Put in larger crusher. 3. Stockpiled 2 months ore not on leach pad. 4. Leaching takes at least 2 month to start seeing the higher gold rates so 4th quarter production still not on balance sheet. 4. Improving leach methods to treat more ore. 5. Bought 2 new trucks and new drill for 7 million and lost 7 million.
I'm long on this. Richard
I thought this stock would be doing much better by now. Ive done some work on Solidad Mountain through out the years. My last time on GQ property I was told that they were finding lots of gold and silver and that they were hiring a lot of people so that they could start running 24 hours. Nice to see that it’s finaly being talked about on ihub but I expected for it to be trading much higher by now.
Thank you for your information. The lack of information may contribute to the sell spree.
I'm long here and hoping for some G long the way.
MADLONG2029
i LIVE DOWN THE ROAD FROM THE QUEEN. THE PROBLEM WITH THE STOCK IS THAT PEOPLE HAVE PANICKED THE INVESTORS. NO ONE CAN JUST TAKE OUR STOCK AWAY AND THE MINE IS EXTREMELY ACTIVE. THEY ARE MOVING A LOT OF ORE AND HAVE OPENED A HUGE PUT AND ARE LEACHING A LOT OF ORE. NO ONE MOVES THAT MUCH DIRT FOR NOTHING. THE PLACE IS A GOLD MINE LITERALLY AND STOP GIVING YOUR STOCK AWAY. The clay's have their stock on the cheap and they paid 12 cents a share and it is worth more than that. RICHARD
Now 3 cents. This message board is more of a joke than the incompetent company
Wonder why they don't like to keep moderators on these slow boards. :)
You might want to check the latest 13D/A filings
In the presentation the company says everything is going well, then they come up with the bombshell of a 180 million share rights offering at 13 cents. Yet there is still no updated presentation on their website to discuss the rationale for the rights offering.
They project great things happening over the next 10 years.
Presentation video from Sept. '17
http://www.denvergoldforum.org/xpl17/company-webcast/GQM:CN/
Another gold rush bigger than the first coming?
http://www.foxnews.com/us/2017/03/14/california-flooding-has-exposed-gold-veins-hidden-for-200-years.html
GQMNF~~ WEBSITE https://www.goldenqueen.com/
GQMNF~~RESTRUCTURING OF THE NOVEMBER 2016 LOAN AGREEMENT
The Company and certain lenders that are associated with the Clay family entered into an amended and restated loan agreement in November of 2016 relating to a term loan facility in the principal amount US$31 million. The Company and the lenders have entered into a letter of intent to amend certain repayment terms under the loan agreement. The amendment would reduce quarterly principal payments due on April 1, July 1, and October 1 of 2018, and January 1 of 2019 from US$2.5 million to US$1.0 million. The letter of intent also provides for an extension of all payments that are due on January 1, 2018 to the earlier of the date of completion of the Offering or February 15, 2018. As part of the restructuring of the debt the interest rate will be increased from 8% to 10% commencing January 1, 2018, and the Company agreed to pay a restructuring fee of US$400,000 to the lenders. The transactions contemplated in the letter of intent are subject to the parties entering into a formal amendment agreement.
GQMNF~~MINING
The mine acquired a new shovel in August at a capital cost of $3.9 million The leach pad, phase 2 was completed during the quarter at a capital cost of $8.4 million, and ore leaching has commenced on the inaugural lift. The leaching performance is in line with the feasibility study with total apparent gold recovery to the end of the third quarter at 73%.
As previously reported, development of the East Pit has been accelerated to access higher-grade ore tons as soon as possible to compensate for the shortfall in ore supply and lower ore grades from the North-West and Main (phase 1) Pits. During the period of development of the East Pit, it is anticipated that gold production will be lower than plan. The transition to the East Pit will provide the majority of anticipated ore production for at least the next three years. Two additional trucks were recently acquired and are expected to be in service before the end of the year. There are an additional three trucks planned for purchase early next year.
Gold production commenced in April 2016. A total of 55,025 ounces of gold and 357,988 of silver have been produced as at September 30, 2017.
GQMNF~~The financial position and results for the quarter ended September 30, 2017 are summarized in the tables below and are presented on a 100% project ownership basis unless otherwise noted (the figures on the table are expressed in thousands of US dollars, except share amounts, unless otherwise noted):
Financial Position
Q3'17
Q2'17
2016
Cash
$4,683
$6,284
$13,301
Inventory
11,952
12,399
10,941
Property, plant, equipment and mineral interests
141,194
140,174
134,550
Total Assets
158,477
159,742
159,706
Working capital (deficit)
(9,088)
(3,898)
8,207
Current Liabilities
26,067
23,162
16,646
Long-term Liabilities
44,135
45,129
50,129
Shareholders' Equity
62,654
65,295
66,711
Net income (loss) & comprehensive income (loss) attributable to Golden Queen
(1,889)
962
(7,429)
Basic and diluted income (loss) per share attributable to the Company
$(0.02)
$0.01
$(0.07)
GQMNF~~The Company had, on a consolidated basis, $17 million in current assets, including $4.7 million in cash, and a working capital deficit of $9.1 million as at September 30, 2017, compared with $24.9 million in assets, including $13.3 million in cash, and working capital of $8.2 million as at December 31, 2016.
Hard to pay off loans when they are struggling to be have positive operating income... starting to think it will be very hard for them to climb out of this black hole of debt without a large increase in Au price.
from 8K
RESTRUCTURING OF THE NOVEMBER 2016 LOAN AGREEMENT
The Company and certain lenders that are associated with the Clay family entered into an amended and restated loan agreement in November of 2016 relating to a term loan facility in the principal amount US$31 million. The Company and the lenders have entered into a letter of intent to amend certain repayment terms under the loan agreement. The amendment would reduce quarterly principal payments due on April 1, July 1, and October 1 of 2018, and January 1 of 2019 from US$2.5 million to US$1.0 million. The letter of intent also provides for an extension of all payments that are due on January 1, 2018 to the earlier of the date of completion of the Offering or February 15, 2018. As part of the restructuring of the debt the interest rate will be increased from 8% to 10% commencing January 1, 2018, and the Company agreed to pay a restructuring fee of US$400,000 to the lenders. The transactions contemplated in the letter of intent are subject to the parties entering into a formal amendment agreement.
shares fell 27.5% after the mining company attempted to quash rumors by stating it was not aware of any undisclosed material... www.theotcreporter.com/2017/10/05/golden-queen-otcmktsgqmnf/
The more I read about SOLEDAD MOUNTAIN and its quarts vein systems the possibility of discovery of more gold bearing viens is highly probable in my opinion.This mountain has alot of GOLDEN TREASURE and that also includes lots of SILVER inside of it.Any good news here and this stock will go to multi dollar range fast.Im locked(LONG TERM)and loaded for the golden fireworks!
Going to "DOLLARLAND" eventually and I will still own all my shares.One to two year hold may reach $5.00 per share.Ill wait.
IM ADDING 10,000 MORE SHARES!TO BE HELD LONG TERM(5YEARS)WILL SELL @ $5.00 TO $10.00 RANGE!GOLD WILL BE $3,000 AN OUNCE/SILVER $60.00 OZ OR MORE IN FIVE YEARS.IMO.
GOLD AND SILVER PRICES WILL RISE TO HIGHER LEVELS AND MAKE GOLDEN QUEEN MINING EVEN MORE VALUABLE!KEEP MINING FELLAS!
LOTS OF GOOD NEWS COMING! THIS COMPANY WILL BE A HUGE GOLD AND SILVER PRODUCER.GOLDEN QUEEN IS JUST GETTING STARTED.NOW IS THE TIME TO LOAD THIS "GOLDEN OPPORTUNITY"!ANYTHING UNDER$1.00 IS A GIFT.IMO!
THE DEEPER THEY DIG INTO SOLEDAD MOUNTAIN THE BETTER THE GOLDEN TREASURE (HIGH GRADE) WILL BE!IMO.HEY COWBOY ARE YOU STILL AROUND? ANYBODY WANNA TALK TREASURE?
$2.00 WITHIN 2 YEARS! I CAN WAIT! GOTTA BE BOLD TO HOLD!FANTASTIC LONG TERM GOLD PLAY INVESTMENT OPPORTUNITY HERE!WILL HOLD FOR $5.00 DOLLARS PLUS PER SHARE WITHIN 5 YEARS!
DROPPING $10,000 HERE FOR A FIVE YEAR HOLD AND WILL SELL @ $5.00 TO $10.00 PER SHARE.STRICKLY FOR RETIREMENT MONEY.LOTS OF GOOD NEWS COMING IN NEAR FUTURE.
Life span is good for area also up to 11 years
PHOTO GALLERY LINK
http://www.goldenqueen.com/project/photo-gallery
Followers
|
5
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
52
|
Created
|
03/01/16
|
Type
|
Free
|
Moderators |
Golden Queen is producing gold and silver at the Soledad Mountain Mine;
located just outside the town of Mojave in California.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |