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Sutter Gold Implements Cost Cutting Measures and Provides
Development Update
Vancouver, British Columbia (July 3, 2013) -
Sutter Gold Mining Inc.
(SGM:TSX-V) (SGMNF:OTCQX) ("Sutter" or the "Company") announces
the implementation of several cost-cutting measures in response
to recent gold market volatility and uncertainty in financing
markets.
RMB Australia Holdings Limited ("RMB" or the "Lender"), which has
funded development and construction costs at
Sutter's Lincoln Mine Project in the California Mother Lode for
the past five years and continues to do so, requested cost
reductions as a condition of further funding under the extension
and increase of the bridge loan announced on May 23, 2013.
An affiliate of RMB is also a 48% shareholder of
Sutter Gold's common shares.
Sutter has implemented immediate changes to senior management,
reduction of mine-site workforce, and refined the
Lincoln Project development plan.
The immediate effect of these changes will be to reduce ongoing
costs and to focus the remaining workforce at the mine site on
completion of specific, well defined capital projects.
Management Changes (effective July 1, 2013):
Mr. Richard A. Winters, President of RMB Resources Inc. and a
Director of Sutter since July 2008, has been appointed Interim
President and CEO.
RMB Resources, the wholly-owned resource merchant banking
division of the FirstRand Group of South Africa, provides equity
and debt financing to small and mid-sized resource companies
globally outside South Africa.
The Board of Directors wishes to thank Dr. Leanne Baker,
who served as President and CEO since November 2011, for her
efforts as CEO during her tenure.
She will continue as a member of the Board.
The Board would also like to thank Mr. Matthew Collins for his
efforts as Chief Operating Officer since September 2009.
The Board of Directors was also recently re-appointed at the AGM
by the shareholders and is comprised of
Mr. Mark T. Brown (Chairman), Dr. Leanne Baker,
Mr. James Crombie, Mr. David Fennell, Mr. Allen Winters and
Mr. Richard Winters.
Mr. Robert Hutmacher has been re-appointed as Chief Financial Officer.
Workforce Reductions
Approximately one-third of the current staff positions have been
eliminated at the Lincoln Mine site.
The remaining personnel will continue with execution of the next
phase of planned development at the Project.
"These decisions were difficult but prudent in the current market
environment," said Chairman Mark Brown.
"Our Board of Directors and financial team are working with
Mr. Winters and RMB to ensure that the Lincoln Mine Project has
the best long-term chance of success.
We will continue to take actions that support the most cost-
effective ways of moving the project forward and to make
decisions that are in the best interests of all of our
shareholders."
Reduction in Interest Rate on Short Term Credit Facility
In concert with the Company's cost cutting efforts,
RMB has agreed to reduce the interest rate on the existing
Secured, Short Term Credit Facility (see press release of May
23, 2012). Beginning July 1, 2013, the interest rate on the
Facility will be reduced from Libor plus 15%p.a. to Libor plus
10%p.a. This measure will reduce interest burden and direct
increased funding for the next phase of development at the
Lincoln Project.
Development Update
As a result of these actions, RMB has agreed to continue funding
the next phase of development at the Lincoln Project.
This phase of work involves final close out of the outstanding
building permits on the surface facilities, including the
administration and shop building, mill, sand barn and tailings
thickener.
The mill, currently 95% complete, will be completed and
commissioned with the processing of approximately 1,500 tons of
mined material currently stockpiled at the mill and 1,500 tons
of new mined material forecast to be produced from continuing
underground development.
Revenues generated from the mill commissioning will be used to
partially offset ongoing development costs.
Underground development will resume in the near term.
The plan for this next phase of underground development will
involve approximately 1,850 feet of underground development.
The object of the plan is to develop the mine sufficiently in
order to:
Achieve regulatory compliance for production mining operations
with the completion of raise work required for the establishment
of secondary egress as well as ventilation; and
Allow access to and mining of the initial stope panels as well
as enhance the deposit model through the additional exposure of
the ore body.
Sutter personnel will execute the planned work on the surface
facilities while underground development will be executed by
Mining Construction Inc., the local mining contractor that has
performed all prior development and mining at the Lincoln
Project.
All work contemplated under this phase of development is
scheduled to be completed by the end of October 2013, following
which subsequent work plans will be assessed and decided upon.
Rick Winters, interim President and CEO, commented,
"These cost cutting measures and focused, objective driven
ongoing development reflect a required, higher level of
discipline in managing the Lincoln Project's advancement going
forward.
The core team of professionals at the Project are capable and
committed to the efficient execution of the next phase of work
and the success of the Lincoln Mine.
The actions and continued funding by RMB is a significant
indication of the strong support from our lender and major
shareholder in the current, extremely difficult junior mining
sector."
About Sutter
Sutter has two projects:
the Lincoln Project located in Amador County, on the California
Mother Lode Gold Belt, and the Santa Theresa Project located in
the Northern Baja region of Mexico.
Currently, the Company is completing the mill construction and
underground development of the Lincoln Mine Project, beginning
with the shallow portion of the Lincoln-Comet ore zone.
The Lincoln-Comet and Keystone zones have a NI 43-101 compliant
Indicated Resource estimate (completed in February 2008).
Sutter currently controls approximately 3.6 miles of
the Mother Lode of Amador County, with 90% of the property
still unexplored.
In Mexico, Sutter holds the rights to the geologically similar,
high-grade El Alamo district of northern Baja.
For further information, please contact:
Robert Hutmacher, Chief Financial Officer at 303 238 1438 ext. 222
Email: bhutmacher@suttergoldmining.com
Website: www.suttergoldmining.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88647417
Mining in the Historic California Mother Lode with Sutter Gold, CEO Clip Video
Vancouver, British Columbia--(Newsfile Corp. - April 9, 2013)
http://www.youtube.com/watch?feature=player_embedded&v=dhh6eXfaVdA
Guess ill continue to watch. Maybe a small starter in November.
Wonder what their monthly burn rate is while they are waiting.
Looks like another year down the tubes then. Damn.
I Called the company. It's amazing what people will tell you if you do your own research. Said I was a Civil engineering in structural development using AutoCAD and Solidworks. Asked if they were hiring, which they are not at the time. Production won't start until the very end of 2013, most likely beginning of 2014. Sutter and their mining contractor were in negotiations. they couldn't move on with production until they had more money. Also, I believe management is strategically waiting until the end of the year for Gold to turn around.
How did you come by this inside information? Why no pr from the company?
I've been guessing September.
Production starts in Q4, near the end
Got word that sutter won't be in production until the end of Q4, and beginning of 2014. They are waiting out the price drop in Gold, then begin full production once the price is higher (Just what I'm thinking why they are waiting) They are still building out the mine. Also, as they continue to build out the mine, the dirt that is mined out for building, will also be mined for Gold. So their first production run will be pretty big! But patience here, good new coming our way, but not till the end of the year. I'll be accumulating more shares over time.
Sure has been hard to buy this stock the last couple of days and still haven't been able to get my order fully filled, less then a quarter of my order has been filled so far. Try again on monday I guess.
Use to own the other and did very well with it and you should do well also. Waiting to see if Sutter can retrace its 52 week low and buy at that point. There are other companies gold mining in the Sierras with one being in the grey market as this company hit it big one day bringing out millions worth of gold and this could happen with Sutter as you never know what your going to run into in the Mother Lode.
Agreed, totally different companies. I have shares in both, so if just one or the other begins production, it should work out fine. And if both do, I'll be a very happy camper. Then again if neither do, then I'm SOL. Ha!
I should mention though that the other will also be year-round once in full production. That's what their 43-101 says anyways.
Big difference between the two. Sutter is very professional in how they do business(my respect has grown though watching the other CEO handling that company). Sutter can mine year round(big plus there) while the other is higher in elevation and will have to shut down during the winter. Even though the other company is cheaper in share price, I'm incline to buy shares of Sutter at the current share price, can easily more then double here with good news.
NBRI's Ruby Mine in Sierra County is fully permitted and getting ready to open.
http://www.northbayresources.com
what is the other company opening a mine in the Mother Load? I haven't heard of any other mining company that has all the permits that Sutter has. It took Sutter 30 YEARS to get these permits, California OSHA laws are ridiculous. You can get the right to lease the land, but operating on it is a whole other story. Let me know what stock / ticker this is please!
Hope so! I'm in another stock that is also supposed to open a mine this summer in the motherlode. It's a horse race now between these two. I don't really care who comes in first as long as both finish the race and make me a winner.
they will begin production this month or next month. They ran out of cash to pay the Mining Contractor to start production. That was the initial hold up.
Mining in the Historic California Mother Lode with Sutter Gold, CEO Clip Video
Vancouver, British Columbia--(Newsfile Corp. - April 9, 2013)
10 years, and still no production? How much longer do you think?
Pacific Opportunity has been involved with Sutter Gold Mining
for over 10 years.
POC has previously assisted Sutter with accounting services,
financial advisory and helped with various financings to
advance the Lincoln Project located in the historically
producing Mother Lode Gold Belt in California.
http://www.pacificopportunity.com/SGMstory.html
http://goldinvestingnews.com/23832/california-exploration-mother-lode-belt-sutter-gold-mining.html
http://www.suttergoldmining.com/s/Home.asp
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88212142
Sutter Gold Mining Inc. Signs US $8 Million Increase and Repayment
Extension to Secured Short-Term Credit Facility -
May 23, 2013
http://www.suttergoldmining.com/s/NewsReleases.asp?ReportID=585450&_Type=News-Releases&_Title=Sutter-Gold-Mining-Inc.-Signs-US-8-Million-Increase-and-Repayment-Extension...
Sutter Gold Mining Inc. -
Signs US $8 Million Increase and Repayment Extension to Secured
Short-Term Credit Facility
Vancouver, British Columbia (May 23, 2013) -
Sutter Gold Mining Inc.
(SGM:TSX-V) (SGMNF:OTCQX) ("Sutter" or the "Company") announced
today that it has closed on an agreement with
RMB Australia Holdings Ltd.
("RMB") pursuant to which RMB has agreed to increase the existing
secured, short term debt facility of US$12 million (the "Original
Facility") by an additional US$8 million (the "Extended Facility",
together with the Original Facility, the "Facility") (see press
release dated October 18, 2012).
The Extended Facility will be used for the completion of the
construction of
the Lincoln Mine Project -
(the "Project") near Sutter Creek, California, and for agreed
general corporate purposes.
With this Extended Facility, RMB has now made an aggregate of US$20
million available to the Company, of which US$12 million has been
drawn by the Company.
In addition, the Facility's due date has been extended from
June 30, 2013 to June 30, 2014 and now bears interest at the rate
of LIBOR plus 15% per annum.
The Extended Facility is subject to an arrangement fee of 5% of the
Extended Facility, which will be paid to RMB Resources Inc. or to
RMB on the first draw down on the Extended Facility.
The security granted by the Company is consistent with that under
the existing prepaid gold facility with RMB and includes a first
ranking charge over the Project.
A Special Committee of the Board of Directors of the Company, comprised solely of independent directors of the Company, was established to review, consider and make recommendations to the Board of Directors of the Company with respect to the Extended Facility. The Special Committee determined that the terms of the Extended Facility are reasonable in the circumstances of the Company and recommended that the Board of Directors of the Company approve the Extended Facility.
The Extended Facility is a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and the policies of the Exchange as a result of the fact that RMB is an affiliate of an entity that owns approximately 48.1% of the issued and outstanding shares of the Company. The Company has relied on the exemptions from the formal valuation and minority shareholder requirements of MI 61-101 contained in sections 5.5(b) and 5.7(e) of MI 61-101 in connection with the Extended Facility. The Company did not file a material change report more than 21 days before the expected closing of the Extended Facility as details of the Extended Facility were not settled until shortly before the closing of the Extended Facility.
About Sutter
Sutter is a growth-oriented exploration and development company
preparing to become a North American gold producer.
The Company has two projects: the Lincoln Project located in Amador
County, California and the Santa Theresa Project located in the
Northern Baja region of Mexico.
Currently, the Company's primary focus is the evaluation and
development of the Lincoln Project, beginning with the shallow
portion of the Lincoln-Comet ore zone of the Lincoln Project,
located on the California Mother Lode Gold Belt.
The Lincoln-Comet and Keystone zones have a NI 43-101 compliant
Indicated Resource estimate (completed in February 2008) of 612,400
tonnes (673,600 tons) grading 11.3 g/t Au (0.33 oz/ton) containing
223,000 ounces of gold and Inferred Resources of 2,161,700 tonnes
(2,377,900 tons) grading 6.6 g/t Au (0.19 oz/ton)
containing 458,900 ounces of gold.
Sutter currently controls approximately 4.6 miles of the Mother Lode
of Amador County, with 90% of the property still unexplored.
Potential exists both at depth and along strike of the known
mineralized zones on both the footwall and hanging wall.
The 120-mile long Mother Lode Gold Belt produced over 13 million
ounces of gold historically with 7.9 million ounces originating from
the 10-mile long segment between Jackson and Plymouth where the
Lincoln Project is strategically located. Properties under the
Company's control include seven historic mines with significant
historic gold production totaling over 3.5 million ounces or 27% of
the historic gold production from the Mother Lode.
Historic mines located north and south of the Lincoln Project in the
Jackson to Plymouth segment of the Mother Lode success fully mined
gold to depths of 4,500 and 6,300 feet, respectively.
In Mexico, Sutter holds the rights to the geologically similar,
high-grade El Alamo district of northern Baja, where historic mining
to the water table produced mined grades of 30 to 60 g/t gold.
Initial exploration with its joint-venture partner, Premier Gold,
has demonstrated the extension of high-grade veins.
ON BEHALF OF THE BOARD OF DIRECTORS:
Dr. Leanne M. Baker, President, CEO & Director
Sutter Gold Mining Inc.
For further information, please contact:
Robert Hutmacher, Chief Financial Officer at 303 238 1438 ext. 22
Email: bhutmacher@suttergoldmining.com
Website: www.suttergoldmining.com
Forward-Looking Statements
This news release contains "forward-looking information" under
Canadian securities law----the Company's revenues and capital
expenditures and estimated production.
Forward-looking information is subject to a variety of known and
unknown risks, uncertainties ---- forth above, investors should not
place undue reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
http://www.suttergoldmining.com/s/NewsReleases.asp?ReportID=585450&_Type=News-Releases&_Title=Sutter-Gold-Mining-Inc.-Signs-US-8-Million-Increase-and-Repayment-Extension...
I actually called in and spoke with Amanda who is one of the managers and directors over there. I told her I was an engineer seeking employment in mining, with experience in structural grading and civil engineering. She stated they are not hiring. I asked why? (Playing dumb) I asked are you mining currently?
She stated they are currently going to begin production within the next one to two months. They are finalizing the "Mining" contract with the contractor who deals with the actual mining process (Blowing up rocks, mining, excavating, ect).
So after the re financing and loan extension has been granted this now will Seal the contract with the General Contractor. Sutter didn't have enough money to begin production without paying a large portion upfront to the General Contractor.
We should see production begin within a month I would say. This is what was stalling the process, just money and an agreed contract between Sutter Gold Mine Inc. and the General Contractor in charge of Mining.
good news will be on the way in the next month!
Maybe some incentive to get this thing rolling...or is it digging. I'm watching and waiting for more cues to full production. GLTA
Yes, that is exactly it.
Little upside for small shareholders unless they do come up with very large reserve additions but I think the lenders/controlling shareholder would want to keep that for themselves.
It is almost like the lender loaned the money to themselves. Let's be realistic. They own the company. They already control 48% of the stock and have a lien on the mine as collateral. This is not a win-win for us. It's a can't-lose for them. Unless they don't get the mine open. Then they are the biggest bagholder.
Well actually they likely could only get a loan from their shareholder who gets paid a lot of interest to reduce their risk. Non one else would want to lend them the money they need.
Ordinary shareholders have no such luxury and bear the brunt of the lack of revenue and little progress on the reserve front.
And who knows if they will have to go back for more money.
This is why the lender is in the driver's seat. They are taking on risk and a bigger bite out of Sutter each time. At some point, they will be in a position to grab the rest for breadcrumbs if they think they have a chance to discover much more gold.
If they don't then they just demand their money back. Either way, it is a win win for the lender/controlling shareholder, while the small shareholders are holding the bag.
It is good news to see they got more funding. But that interest rate is a killer! Not a very friendly way for a 48% shareholder to behave.
You asked for a news release, here it is :
http://finance.yahoo.com/news/sutter-gold-mining-inc-signs-200800471.html
Sutter is becoming more and more indebted to its lenders/controlling shareholders.
Note the rate of interest Libor + 15% !!
With such a small reserve base, SGM badly needs to come up with better grades and much more reserves and fast. They are buring up a lot of (expensive) money. They don't have much of a choice and probably could not borrow money elsewhere in today's market.
Sutter Gold Mining Inc. (TSXV:SGM) Corporate Presentation -
http://www.suttergoldmining.com/i/pdf/SGM_Corp-Presentation_May-9-2013_web.pdf
History often repeat itself -
Gold Country (California, United States)
The Kennedy Gold Mine which operated from 1870 until 1942.
Gold Country is the casual name given to the area on the western
slope of the Sierra Madre Mountains extending along what today is
Highway 49 in California.
It was the discovery of gold here in the tailrace at
Sutter’s Mill that triggered the famous California Gold Rush
of 1848-1855.
Within only a few years of the discovery, nearly 300,000 people
made the trek to California to seek their fortunes.
San Francisco grew from a population of 1,000 to 25,000 by 1850.
Initially, prospectors focused on panning for gold but later moved
to hydraulic mining in which pressurized water was used to loosen
sediment along slopes and cliffs for processing.
It is estimated that some 20 million ounces of gold was collected
using these labor intensive methods.
The Kennedy Gold Mine which operated from 1870 until 1942.
Eventually, the gold rush period gave way to conventional hard rock
mining.
This required the intensive capital investment provided by
companies.
Mines in the area continued to operate up through WWII when the
government forced their closure to direct resources for the war
effort.
One such operation was the Kennedy Gold Mine in Jackson, which by
1920 contained a remarkable 150 miles of underground tunnels
reaching depths of 5,912 ft.
After the war the mine lay dormant until 1961 when the 152 acre
property was purchased by a ceramics teacher for $41,600 who lived
there until her death in 1994.
Now, it is preserved as a historical site.
When the price of gold soared in the 1970s, interest in the area
renewed and several mines were opened using the more modern method
of open pit mining.
In some cases older tunnel mines were excavated.
By the late 1980s, most of these mines had ceased operations due to
the depressed price of gold. One in particular, the Harvard Mine
near Jamestown, continued operations until 1995 with production in
excess of 100,000 ounces of gold per year.
Sources
http://virtual.yosemite.cc.ca.us/ghayes/goldrush.htm
http://www.kennedygoldmine.com/files/history2s.pdf
http://en.wikipedia.org/wiki/California_Gold_Rush
http://en.wikipedia.org/wiki/Gold_country
Why $50,000 Gold?
http://www.jsmineset.com/2013/04/19/why-50000-gold/
Outlook 2013-The_Irreversible_Trends_Driving_Gold_to_$10000 - PART 3
Building a New Gold Mine in California’s Mother Lode SGM Fact Sheet -
http://www.suttergoldmining.com/i/pdf/FactSheet.pdf
WAKING UP TO $4,000/OZ GOLD…AND NOTHING OFFERED
MAY 21, 2013 BY THE DOC 23 COMMENTS
http://silverdoctors.com/waking-up-to-4000oz-gold-and-nothing-offered/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88210326
God Bless
Ps.
Thanks Clint good info
Sutter Gold will go to $3-5 Share in the next..
2 YEARS
I've been slowly accumulating these shares over time. Bought in at
.07 up to .38, I'm not worried about the price fluctuations at all.
This is a LONG TERM play with the highest Grade out of any
Gold Mine.
The company's debt structure isn't pretty but they should be able
to get out of it within a year after full production, that
gives 4 years of EPS to the company and shareholders.
The company is waiting to release News PR. They are going to wait
until they are IN PRODUCTION to announce another PR. WHY?
Because this is a HUGE MILESTONE, in turn the stock will skyrocket,
most likely to the .7-$1.00 level.
Watch it sell off back down to .6-.9, then make another move near
the end of the year around November / December
once they meet FULL PRODUCTION.
I've talked to the CFO, the company also uses its waste / Dirt and
sells it to Agricultural companies, another revenue stream.
Ironically, they are sitting on the "MOTHER LOAD" and the stock sits
at mere Pennies.
Watch this company because a buzz word after full production hits and
the ETF Gold market shapes back up to the $1,7000- $2,000 range.
All the major banks covered their shorts and now are buying back
future calls on Gold.
Pure manipulation play on the banks, but watch how
Sutter Gold will be in the right spot at the right time with
Full Production hitting along with new Gold Highs.
Cheers ,
Clint
Thanks for that. A presentation is better than nothing, but why no press releases?
WAKING UP TO $4,000/OZ GOLD…AND NOTHING OFFERED
MAY 21, 2013 BY THE DOC 23 COMMENTS
http://silverdoctors.com/waking-up-to-4000oz-gold-and-nothing-offered/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88210326
God Bless
Blindsquirrel' on 'Sutter Gold Mining Inc. (TSXV:SGM)
the old new was release was back in Feb, this is a -
new SGM May Presentation -
Please, find it @ the link below -
Sutter Gold Mining Inc. (TSXV:SGM) Corporate Presentation -
http://www.suttergoldmining.com/i/pdf/SGM_Corp-Presentation_May-9-2013_web.pdf
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88210326
God Bless
Thanks for the reply. But that does not answer the question. Why no news since February? Old news doesn't help much.
Sutter Gold Mining Inc. (TSXV:SGM) Corporate Presentation -
http://www.suttergoldmining.com/i/pdf/SGM_Corp-Presentation_May-9-2013_web.pdf
Why $50,000 Gold?
http://www.jsmineset.com/2013/04/19/why-50000-gold/
Outlook 2013-The_Irreversible_Trends_Driving_Gold_to_$10000 - PART 3
Anyone know whats going on here? No news since February. I thought theyd be mining by now.
Care to share how you arrive at such prices, given the debt situation and low reserves? The grade needs to improve too.
Obviously you are discounting very high reserve additions and ability to handle the debt load.
The lenders are in the drivers seat, good and experienced lenders that Sutter is fortunate to have, but they really control the company.
Thanks in advance
Tickling the teens...we'll see.
I bought another 1,000 shares today. In a month or two we will have a press release stating production has began. Sounds like OSHA is blocking them until certain Build outs meet regulations. Production will begin in June or July.
Hope we didn't wait to long. Looks like no teens right now. Still a good price - IMO.
Thanks NYBOB
I think by the end of the year we should see some real PPS appreciation as full production comes to light. Next month we should see a press release. They will hit production sometime in Mid June or possibly July.
I hold a pretty strong position of about 40,000+ in shares. I'm holding out until it passes $2.00/share and i'll take a bit off the table.
What's your thoughts on their current debt structure? This is a main concern of mine. It would be nice to get a second opinion.
Why $50,000 Gold?
http://www.jsmineset.com/2013/04/19/why-50000-gold/
Outlook 2013-The_Irreversible_Trends_Driving_Gold_to_$10000 - PART 3
WizKid welcome to Sutter Gold Mining Inc. (TSXV:SGM
good to see you @ SGM -
following mark #4 to you and thanks for the good info -
Sutter Gold will go to $3-5 Share in the next..
2 YEARS
I've been slowly accumulating these shares over time.
Bought in at .07 up to .38, I'm not worried about the price
fluctuations at all.
This is a LONG TERM play with the highest Grade out of any Gold Mine.
The company's debt structure isn't pretty but they should be able
to get out of it within a year after full production, that gives 4
years of EPS to the company and shareholders.
The company is waiting to release News PR.
They are going to wait until they are IN PRODUCTION to announce
another PR. WHY?
Because this is a HUGE MILESTONE, in turn the stock will skyrocket,
most likely to the .7-$1.00 level.
Watch it sell off back down to .6-.9, then make another move near
the end of the year around November / December once
they meet FULL PRODUCTION.
I've talked to the CFO, the company also uses its waste / Dirt and
sells it to Agricultural companies, another revenue stream.
Ironically, they are sitting on the "MOTHER LOAD" and the stock
sits at mere Pennies.
Watch this company because a buzz word after full production hits
and the ETF Gold market shapes back up to the $1,7000- $2,000 range.
All the major banks covered their shorts and now are buying back
future calls on Gold.
Pure manipulation play on the banks, but watch how
Sutter Gold will be in the right spot at the right time with
Full Production hitting along with new Gold Highs.
Cheers ,
Clint
SGM Gold - Continuous Contract (EOD) ($gold
http://abclocal.go.com/kgo/story?section=news/assignment_7&id=9001960
Sutter Gold Mining company pours its first molten gold -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86916065
http://www.suttergoldmining.com/s/Home.asp
Gold & Silver Index Stocks bottom line - Early Oversold Buy Opportunity -
World Changing Events & The Global Run On Gold And Silver
Tuesday, April 30, 2013 17:32
http://beforeitsnews.com/economy/2013/04/world-changing-events-the-global-run-on-gold-and-silver-2515812.html
2 days ago – We also found out that inventories of gold and silver
are dropping ... to some sort of resolution with the potential for
world changing events.
XAU Index to Price of Gold Ratio ($XAU:$SILVER)
HK gold retailers overwhelmed by mainland shoppersUpdated:
2013-05-02 05:00 By Gao Changxin In Hong Kong ( China Daily)
http://www.chinadaily.com.cn/cndy/2013-05/02/content_16466595.htm
World Bank Whistle-blower. Confidence in the Dollar as an
International Currency Is Waning.
The End of Bretton Woods ?
World Bank Whistleblower Karen Hudes
http://nsnbc.me/2013/05/02/world-bank-whistle-blower-bretton-woods-near-collapse-confidence-in-the-dollar-as-an-international-currency-is-waning/
http://www.biblebelievers.org.au/monie.htm
God Bless
Ps.
Germany Facing Another ‘Weimar Republic Meltdown’ – US Ponzi Scheme
Is Being Revealed For The True Fraud That It Is – V’s Latest
Monday, April 29, 2013 11:24
http://beforeitsnews.com/eu/2013/04/germany-facing-another-weimar-republic-meltdown-us-ponzi-scheme-is-being-revealed-for-the-true-fraud-that-it-is-vs-latest-2518814.html
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87366034
Central Banks Grossly Incompetent: Bloomberg -
http://www.bullionbullscanada.com/gold-commentary/26151-bloomberg-central-banks-grossly-incompetent
SGM Gold - Continuous Contract (EOD) ($gold
http://abclocal.go.com/kgo/story?section=news/assignment_7&id=9001960
Sutter Gold Mining company pours its first molten gold -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86916065
http://www.suttergoldmining.com/s/Home.asp
Gold & Silver Index Stocks bottom line - Early Oversold Buy Opportunity -
World Changing Events & The Global Run On Gold And Silver
Tuesday, April 30, 2013 17:32
http://beforeitsnews.com/economy/2013/04/world-changing-events-the-global-run-on-gold-and-silver-2515812.html
2 days ago – We also found out that inventories of gold and silver
are dropping ... to some sort of resolution with the potential for
world changing events.
XAU Index to Price of Gold Ratio ($XAU:$SILVER)
HK gold retailers overwhelmed by mainland shoppersUpdated:
2013-05-02 05:00 By Gao Changxin In Hong Kong ( China Daily)
http://www.chinadaily.com.cn/cndy/2013-05/02/content_16466595.htm
World Bank Whistle-blower. Confidence in the Dollar as an
International Currency Is Waning.
The End of Bretton Woods ?
World Bank Whistleblower Karen Hudes
http://nsnbc.me/2013/05/02/world-bank-whistle-blower-bretton-woods-near-collapse-confidence-in-the-dollar-as-an-international-currency-is-waning/
http://www.biblebelievers.org.au/monie.htm
God Bless
Ps.
Germany Facing Another ‘Weimar Republic Meltdown’ – US Ponzi Scheme
Is Being Revealed For The True Fraud That It Is – V’s Latest
Monday, April 29, 2013 11:24
http://beforeitsnews.com/eu/2013/04/germany-facing-another-weimar-republic-meltdown-us-ponzi-scheme-is-being-revealed-for-the-true-fraud-that-it-is-vs-latest-2518814.html
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87366034
Central Banks Grossly Incompetent: Bloomberg -
http://www.bullionbullscanada.com/gold-commentary/26151-bloomberg-central-banks-grossly-incompetent
Sutter Gold will go to $3-5 Share in the next..
2 YEARS
I've been slowly accumulating these shares over time. Bought in at .07 up to .38, I'm not worried about the price fluctuations at all. This is a LONG TERM play with the highest Grade out of any Gold Mine. The company's debt structure isn't pretty but they should be able to get out of it within a year after full production, that gives 4 years of EPS to the company and shareholders.
The company is waiting to release News PR. They are going to wait until they are IN PRODUCTION to announce another PR. WHY?
Because this is a HUGE MILESTONE, in turn the stock will skyrocket, most likely to the .7-$1.00 level. Watch it sell off back down to .6-.9, then make another move near the end of the year around November / December once they meet FULL PRODUCTION. I've talked to the CFO, the company also uses its waste / Dirt and sells it to Agricultural companies, another revenue stream.
Ironically, they are sitting on the "MOTHER LOAD" and the stock sits at mere Pennies. Watch this company because a buzz word after full production hits and the ETF Gold market shapes back up to the $1,7000- $2,000 range. All the major banks covered their shorts and now are buying back future calls on Gold. Pure manipulation play on the banks, but watch how Sutter Gold will be in the right spot at the right time with Full Production hitting along with new Gold Highs.
Cheers ,
Clint
Agree. I'll add more at .15. Then if it hits 10¢ I'll throw the bank at it.
Sliding with gold prices? All good. I'll be looking to re-enter late summer. Maybe at .10. If they can get this operation going and full production starts this year, there's significant money to be made here. Significant.
Agree. Fall should be the target.
Could be good. Took a starter position. Will add later at the right price or news release on production. Good luck. I'm hoping for something positive by October.
With that projection, puts PPS around $8, eh? We'll see.
Also read that article. I owned this stock last year but sold after no progress. So full production is 13? If so that's huge. But I'm still not convinced. Watching for good indicators and solid buy in price. GLTA
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SGMI is a mineral exploration and development company focused on the development of its gold properties in Sutter Creek, California. SGMI is a public company with its stock trading on the TSX-V exchange (symbol: SGM.V Toronto Exchange). The Company's headquarters is in Riverton, Wyoming with a field office at its gold mining project in Sutter Creek, California. SGMI is the result of a reverse merger between Sutter Gold Mining Company (a private U. S. company) and Globemin Resources Inc. of Vancouver, B.C. SGMI is engaged in the exploration and development of gold mineral properties in the Mother Lode gold belt of north-central California.
Sutter Gold Mining Inc.
Corporate Website: http://www.suttergoldmining.com
Corporate Profile: http://www.suttergoldmining.com/CorporateProfile.php
Corporate Objectives (2006-2007):
http://www.suttergoldmining.com/CorporateObjectives.php
Board of Directors:
http://www.suttergoldmining.com/BoardofDirectors.php
Management:
http://www.suttergoldmining.com/Management.php
Company Head Office and Vancouver Office:
Head Office:
Sutter Gold Mining Inc.
877 North 8th West
Riverton, WY, USA 82501
Bus: 307-856-9271
Fax: 307-857-3050
Vancouver Office:
Suite 410, 325 Howe Street
Vancouver, BC, Canada V6C 1Z7
Bus: 604-687-3520
Fax: 604-688-3392
Transfer Agent:
General shareholder inquiries:
Computershare Investor Services
100 University Avenue,
9th Floor, North Tower
Toronto, Ontario
M5J 2Y1
In person delivery:
510 Burrard Street,
Suite 300
Vancouver, BC
Telephone: 1-800-564-6253 (toll free in Canada and the United States) between the hours of 8:30 a.m. and 7:30 p.m. Eastern Time or 514-982-7555 (international direct dial).
Fax: 1-888-453-0330
http://www-us.computershare.com/
Email: webservice@computershare.com
Sutter Gold Project details: http://www.suttergoldmining.com/Projectdevelopment.php
The Project was the first significant new gold discovery made along the Mother Lode Belt in last 50 years!
Sutter Gold Development details:
http://www.suttergoldmining.com/Projectexploration.php
Sutter Gold Exploration details:
http://www.suttergoldmining.com/Projectexploration.php
The Lincoln and Comet Ore zones!
With 10 percent of the area explored we have: Indicated Gold: 173,544oz...Inferred Gold: 521,417oz
www.4seasons-photography.com/Event_Sutter_Gold_Mine.html
www.caverntours.com/SG_slideshow/pages/SG_shop01.htm
Daily Chart
Weekly Chart
Share Structure: as of 11/24/2006
Total Number of Shares: 69,795,556
Shares in Escrow: 33,637,629
Net Outstanding: 36,157,927
Need to confirm from TA but here is the SS from the SEDAR filing of 11/29/2006
I/S and O/S: 68,889,556
Fully diluted: 96,543,994
As of 3/19/2007, another 7,621,867 shares will be issued to pay off over $2 million in debt to USEG pending TSX-Venture exchange approval.
Sutter Gold Sedar filings page:
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00002785
2007 PRs: http://www.suttergoldmining.com/PressReleases.php
2006 PRs: http://www.suttergoldmining.com/2006.php
2005 PRs: http://www.suttergoldmining.com/2005.php
2004 PRs: http://www.suttergoldmining.com/2004.php
Contact Sutter Gold Mining http://www.suttergoldmining.com/ContactSutterGold.php
Sutter Gold Mine -
Journey into the Heart of the Mother Lode -
http://www.caverntours.com/sgmt.html
http://www.caverntours.com/SG_slideshow/index.htm
SGM old golden bull has a long way back UP
The super red banksters cults -
Rothschilds World Part 1 "Glen, Rush, Michael...Here's to you boy's"
http://www.youtube.com/watch?v=yhKHwrUA5SM&feature=related
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