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"Although the methods and reported results are not what some may have wanted or been expecting,..."
I think that Marc Lavito reads this board and was fully aware of all the discussion regarding 5 gallon buckets and hand dug samples and that is what he was referring to when he talked about "methods", as in methods of sampling.
As far as "reported results", I and many others were expecting what GDSM stated in their July 2nd TWITTER UPDATE (A release detailing the sampling data) , which GDSM did not deliver to shareholders in their July 30th PR. And unfortunately, the overall shareholder disapointment from the lack of detailed sampling data is obvious from the decline in PPS since that PR.
GDSM TWITTER UPDATE: @GoldCoastMining: Shareholders: We are expecting additional testing results in the next day or two. A release detailing the sampling data will then follow.
And coincidentally the above July 2nd GDSM TWITTER UPDATE occurred just after, "...an increase of 25mm since our last update. The shares were issued in June...". Issuing 25mm shares just before stating that detailed sampling results will be forthcoming in two weeks and then selling them on the open market for .006 is a nice way to clear $150.000.00.
All along, I have been giving GDSM the benefit of the doubt, but now I think they need to step up and prove with concrete data that they are on the up and up.
http://www.westernmininghistory.com/articles/7099/page4/
b. Hand-dug excavations: Hand-dug excavations in the form of pits, trenches or small shafts are generally suited to dry, shallow ground. They are most effectively used to depths of about 7 feet which is the depth from which material can readily be thrown with a shovel. Where practicable, they may provide the best means for sampling a placer. They generally do not require such close supervision as drilling nor do they require the high cost, specialized equipment or highly trained personnel needed for placer drilling. An extra bonus is offered by hand-dug excavations in cases where they remain open for some time, permitting resampling at a later date. In the case of dredge prospects, the principal point in favor of pits or shafts, where applicable, is the fact that they provide a much better idea of boulder content and gravel sizes than do small-diameter drill holes. Boulders are always an important factor in dredging operations.
The simple equipment needed for hand-dug sample pits or shafts is a particular advantage in remote areas or where only a limited amount of sampling is anticipated. A few strategically located pits or shafts may show that the ground is entirely unfit for mining or that it will not warrant the expense of drilling. On the other hand, if they return good prospects and the ground is subsequently drilled, the expense of preliminary hand work will be but a small part of the overall cost. Successful mining companies learned long ago to approach placer prospects cautiously and to make a few diagnostic tests before putting their money in an expensive sampling program. In many cases hand-dug excavations adapt well to this need.
Everyone has an opinion but this is a great stock to trade around a core position. Buy some on the dips sell some on the rips, all the while holding or adding to a core position. The last time GDSM was in the low .003s was a very nice gainer for me. So, "Guaranteed money loser!", I don't think so.
I second that, great post!
I noticed that.
When GDSM moves up, it will move up fast!
Last time we were in the low .003's, I loaded a bunch and it paid off nicely. I have no reason to believe that this time will be any different!
Exactly! "News was never promised." "Expect it soon though."
Many feel exactly the same. That is why GDSM is on the Most Read, Most Posted, and Active lists once again.
If people were not expecting news, none of what we have been witnessing lately would be taking place.
I would like to thank you as well!
The only time I have slammed the phone down on somebody is when I tried to explain the same thing over and over to them and they just would not accept my explanation. It was like talking with a Chatty Cathy doll, the same crap over and over. I slammed the phone down out of pure frustration.
I am simply going on the information from the last GDSM Twitter Update and the June 30th WSRA Shareholders Update. I have every reason to believe a release of the recent sampling results are forthcoming.
"News Tomorrow!" Upcoming news explains a good deal of what we are and have been witnessing here on the GDSM board recently!
Nice find!
"Successful mining companies learned long ago to approach placer prospects cautiously and to make a few diagnostic tests before putting their money in an expensive sampling program. In many cases hand-dug excavations adapt well to this need."
Seems like GDSM is proceeding in the footsteps of other "successful mining companies".
What a joke! There are roughly a thousand shareholders and about 630 million shares outstanding. That is a heck of a lot of pm's!
Wrong!
"Phase II- in Phase 2, a second and more complete sampling program will be implemented as well as recommendations with respect to mining the ore body. An NI 43-101 report commissioned. A small scale trommel will be used in the testing process to determine later production and Au extraction requirements. The Phase II extraction system will resemble as close a possible a small scale production facility."
Small scale production in the very near future.
Your wish has been noted, NEXT!
Up 16.7%. Lets go for 25% 50% 100%...!!!
"I think the pictures go to the heart of the matter as to whether this company can be trusted."
I believe that you have made your point numerous times in spite of the fact that many longs have tried to give you more than adequate explanations for your concerns on this topic.
2.4 What if someone is bashing the same topic over and over again? I think this is spam and should be deleted!
"Some look at things that are, and ask why. I dream of things that never were and ask why not?"
- George Bernard Shaw
This is a mining VENTURE in it's early phases. Enough about the pictures already!
Investing in any stock is a risk. Mark Cuban said he took a bath on Facebook recently. He's a smart guy, and you would think that Facebook would have been a safer bet. There are very few sure things. Pinkies are a higher risk, but they can also be a much higher much quicker reward. And that is why many of us are here.
Most people who have been here for a while know that we are in the beginning phases of a mining operation, and GDSM has been very clear about that in the information they have provided for any new investor who wants to look a bit further than the last couple of days of posts on I-Hub. At this point there is not a whole heck of a lot to see other than the pictures of the land that you were given the links to earlier.
The following information was given out on February 28, 2012:
http://www.otcmarkets.com/financialReportViewer?symbol=GDSM&id=73887.
"Phase II- in Phase 2, a second and more complete sampling program will be implemented as well as recommendations with respect to mining the ore body. An NI 43-101 report commissioned. A small scale trommel will be used in the testing process to determine later
production and Au extraction requirements. The Phase II extraction system will resemble as close a possible a small scale production facility."
Most longs are focusing on the upcoming sampling reports and what those reports will mean to our investment going forward. Anyone who looks at that into picture and thinks that is what is currently taking place on the GDSM claims certainly has not done their homework and has no business investing in the first place.
L2 shows just a couple hundred thousand shares to .006 and less than a half a million shares to .007.
#5 on Most Read & #8 on Most Posted.
News is coming!!! Lots of new names on the GDSM board this weekend that seem to want to get in by trying to scare us "foolish" longs out of our shares at bargain prices.
GLTA GDSM LONGS!!! Should be a great week. Everyone else, pay the asking price.
"I think that what GDSM is doing is putting out fluff PRs" GDSM has done the exact opposite!
I keep going back to the fact that Lavito has NOT pumped this venture with a bunch of fluff PR's. As I stated, he has done the exact opposite. If GDSM was set up, as some have suggested, to fleece investors, they could be putting out many more forward looking statements and be raking in the cash, but they have not.
While communication has been less than frequent, the bits and pieces that are available, such as the recent financial filings, makes me think that GDSM is trying to do things right.
In the end, it all will come down to those upcoming sampling results. If they are in the least bit favorable, we should be back over a penny in short order. If they are very positive, we should be at multi-pennies.
"Will this be taking off on Monday because of the rumors?" Well it is always a good sign that a stock is about to take off when one sees several new names making numerous posts on Saturday and Sunday!!!
L2 is very thin back to .006, less than 700,000 shares.
Wrong! "Again, though - Lovito did say he would release information the first two weeks of July" See my earlier post #72673.
I too think Monday will be another strong day for GDSM.
"A little red and everybody starts to doubt"
It's not everybody. Out of roughly a thousand shareholders, it only takes a few to sell at the bid and bring the PPS down. And these are probably people with very short term goals in mind. I say let them sell. For every seller there is a buyer, and a buyer with thoughts of making money.
The key here is the low volume. Obviously the majority of shareholders are holding tight, waiting on news that has been stated by the company to be forthcoming.
It is simply a matter of a few days in my opinion. I can certainly wait.
While many here, myself included, were expecting news by today, it is helpful to go back and reread the information that led us to that conclusion.
"...information concerning those results will be made available to GDSM during the first two weeks of July."
In this recent passage from the Western Sierra website, the key phrase is, "will be made available to GDSM". While many may have assumed that that information would be divulged to everyone during the first two weeks of July, it only says those results will be made available to GDSM.
In the GDSM Twitter Update it states, "@GoldCoastMining: Shareholders: We are expecting additional testing results in the next day or two. A release detailing the sampling data will then follow." No exact timeline is given; however, it is reasonable to assume they mean to release that information soon.
From these two latest bits of information from the Western Sierra website and GDSM Twitter, one can conclude that GDSM will get the sampling results in the first two weeks of July and then a news release detailing the sampling data will be released to the general public in the days following.
Bottom line, news will be forthcoming. Those who are selling now are going to regret that decision just the same as those who sold at .0034 two weeks ago.
GDSM has done everything that they have stated thus far; therefore, I have every reason to believe the following statements:
Gold Coast Mining-The Gold Crown Group
During the first quarter of 2012, we entered into an agreement with Gold Coast Mining to develop the Gold Crown and GS-1 to GS-4 placer claims in Skull Valley, Arizona. Under the basic terms of the agreement, Gold Coast has committed to a 9 month budget to provide the information necessary to, and targeted at, preparation for putting the property into eventual production.
We have now completed our initial evaluations and surveying of the property. With this information we outlined several initial sample sites both on the BLM and State grounds. The sampling program has begun in the south eastern portions and information concerning those results will be made available to GDSM during the first two weeks of July. The second phase, sampling on the north western portions of the property, will begin shortly after the conclusion of reporting the first phase results.
The Gold Star properties are comprised of approximately 650 acres. To some extent, the difficult train has limited our initial efforts, but the majority of the property is accessible via ATV vehicles.
In addition to the Gold Star properties, we are looking at the possibilities of expanding the exploration efforts to include other potential gold and/or silver properties in Central Arizona in conjunction with GDSM.
GDSM TWITTER UPDATE: @GoldCoastMining: Shareholders: We are expecting additional testing results in the next day or two. A release detailing the sampling data will then follow.
@GoldCoastMining: We are commited to our goal of building shareholder value. Thank you for your support!
L2 shows only a little over a million shares between here and .0077.
The question is, will we have a late day surge?
"The sampling program has begun in the south eastern portions and information concerning those results will be made available to GDSM during the first two weeks of July."
I'm hoping for news Thursday or Friday.
I think we will be in the .007's tomorrow. This whole Tuesday/Thursday thing with PR's tends to make Mondays and Wednesdays fairly strong trading days. News is coming!
Due to a power outage, we are still experiencing difficulties with financial information (L2, news, streamer, etc.) People don't like trading blind. Could be why things stalled out a bit.
Looks like I was dead on! Big Smile!
L2 looks like less than a 140,000 shares to .0062. .006's are coming!