'I am not bound to please thee with my answers.' William Shakespeare

They don't need a hero they have you

Find a soap box somewhere else, this is not the place for it

This issue obviously means far more to you than it does to me.

I have had native friends and fellow workers so I am not ignorant of their plight but their issues are complex and not going to be solved here.

This will be my last comment on the matter I am not interested in further debate.

You should all take a closer read of the SEC Litigation.

What can I say perhaps you all just deserve your fate after all.

MD I hope they really pull it off but really doubt they will survive.

The last Update showed me they intended to dilute more to cover Operating Expenses which they can no longer do.

They have a very short window to become self supporting and I do believe it is possible just highly unlikely.

I also believe the SEC actions have the potential to get a whole lot worse but keep in mind that is just IMHO.

I have long since known the likelihood of having to write off my losses.

I did cling to hope for a long time though.

I hope you win and recover something eventually.

eye

The way the company Left Pampana was scandalous.

The way they justified explaining it was equally scandalous.

The decision caused the stock price to Plummet as it should of.

The reason for leaving Nevada to Register in Wyoming was obvious.

- It allowed the printing of unlimited authorized shares
- no Annual filings
- protection from disgruntled investors

In short a Pinky Scam Haven

Links were posted to Wyoming sources verifying those facts


The only sources to blame for the demise of this stock is management itself.

eye

Raising Capital without Dilution for this Pinkie is a monumental task in itself. If they can actually do it and become self supportive that would indeed be a major milestone worthy of note.

I don't like their chances based on past performance but the dry season isn't far off and they do have a chance to do or die.

Actually all the previous Financials and Filings have shown me how dependent the company has been on dilution to fund Operations.

The chill has shown me dilution at this point is no longer an option.

The latest Update shows me without the chill additional Dilution was the expected outcome so its good to see that avenue closed at least.

Oh well not much further the stock price can drop anymore anyway everyone still in this stock will have to ride it out regardless of the outcome.

Incidentally, I have never left I just chose not to rub salt into the wound until certain interests chose to stir the pot once again.

Truth is I have felt all the pain most of you are only now getting to feel.

By the way I have read and enjoy your posts as well.

eye

Blah , Blah , Blah, same thing different language but just as sensible

Apparently you and everyone else still here.

Dilution wasn't a factor by the way in the beginning, the company was very diligent in managing their share structure in the beginning.

It was only when they abandoned the Pampana Projects when they began diluting Recklessly and at will.

They had no choice and no other way to raise Capital by then.

At that point Longs could only try to average down which laid the way open for most of the current holders to get in after the share price collapse.

Anyway, anyone still holding this stock rode it right down to worthlessness the same as I did.

eye

The last Financials showed a Net Loss, you like many just don't understand Financials enough to Realize it.

eye

The truth is shareholders in this stinky pinky are in a whole heap of trouble that believe it or not could still get worse.

The last update shows how reliant the company was on dilution to fund its Operations.

The Financials shows losses once again which should be no real surprise.

They also show the reliance on dilution on a continual basis yes ever since the initial Pampana Projects.

The only real hope for shareholders at present is that Dilution is no longer possible at this point which means, management must find a way to be profitable or close the doors.

If they can manage to cut back costly Operations or produce higher yields they just might be able to keep the lights on but they have never produced a profit yet.

It could still happen but is a long shot at best.

The chill could become a whole lot worse so I suppose shareholders should be thankful that's all it is at the moment.

Its just a matter of time before more and more of you start to vent once you realize what management has done to decimate your investments.

I would be genuinely surprised to see this company survive.

By the way I have never sold any of my shares but they are just as worthless as everyone Else's except now there's a lot more in the same boat.

eye

Haven't needed to get into another crapshoot but you are right on the ball.

Advocating silence because people don't like operational results is just plain silly.

As this stock continues to drop and dilution continues more shareholders will voice their disapproval I am sure.

The time for excuses has well passed.

With utter silence, this board would explode as people would sense and see substandard practices unknown in Publicly traded companies.

For the record, any company needing to raise finances through dilution would be comitting hari kari if they refused to Promote their company and Extractions through regular PR's.

Hmmm, maybe thats why the stock is so cheap.

eye

History is history but I have missed nothing concerning the Pampana Area.

It was after all the sole purpose for starting Operations in the country in the first place and so much more.

As to how the company handled the affair the stock price and dilution ever since attests to those decisions.

The market tends to have disagreed with you.

They should have handled the problem far more professionally and upfront with their investors instead of hanging them out to dry.

I really don't want to get back into it so don't draw me back there again or we will all be sorry for it.


Your notes are somewhat askew and could be easily disputed but whats the point. I can see why you made your claim.

I have other things to do and it won't help the stock anyway.

The Pampana Area is rich with resources and has already proven it can be mined cheaply and effectively so going there again would have to be at least a positive development.

Dilution has run rampant since leaving the area and Operating costs have escalated.

Mechanization has clearly not got the job done and this has clearly not been the year we have be waiting for as advertised and again has fallen short.

The problems didn't end when they left the Pampana and of that I am painfully aware of.

At least they have made some progress.

Im sure there are lots both good and bad to rehash for months to come as the rainy season is already upon us.

I do respect that you post your opinion though, good or bad right or wrong it is your right and you should not be intimidated from sharing it.

eye

Exactly and that was only one of several statements put out by the company.

The main point to consider is that SGCP can produce significant extractions without machinery of any sort.

In a place when gas and machinery maintenance could get out of control costly that is a very clear advantage.

That particular release was the second Extraction report of the year and was about 1 month after the first extraction report.

For those who are not aware the equipment we were waiting for was the mobile wash plants.

Dredges created a new thrust after that.


We continued to extract one kilo per month but quickly built up to 2 kilos per month which were reported monthly, not quarterly or twice a year.

With the addition of equipment we were supposed to multiply those results.

Needless to say the stock traded far higher then with far less dilution.


The Pamapana River is far more promising than any of the areas we have gone to since leaving the Pampana River area.

It is a very good thing to get back to the Pampana area but the company need to make an official announcement if that is the case IMHO.

Good post MDB in any case. Thx for taking the time to find it as I have also done many times in the past.

The Pampana Area is incredibly rich as all three Independent Reports indicated and proved.

The testing, sampling, methods, extractions and lab analysis to create those Reports was extensive and exceptionally promising.

eye

I will sat this, before the company left the Pampana area they were producing much much more than 1 gram per ton and that was with no machinery whatsoever.

I expect they were closer to 5 to 7 grams per ton keeping in mind they had no machinery to move earth other than sweat and determination.

They went from recurring Extractions of 1 kilo per month to two and reported it monthly not every 3 to 4 months.

The stock price was much higher and dilution was not nearly as necessary.

Some things can not be fixed but large Recurring Extractions would go a long way in getting things back on track.

Gas is painful here over there it must be brutal.

Local labor needs none of it and employs far more locals.

eye

Why thank you and yes Yele is in the Pampana area.

Most here have no idea how rich that area is.

It was in fact the sole purpose of Beginning Operations in Sierra Leone in the first place and was based on three individual Detailed Reports each showing better results than the last.

I chuckle at how much posters here were pumped by a single anyalasis when I consider the numerous samples, lab analysis, trenching and various techniques used to form those self same Reports.

Based on the initial extraction report of 2011 one should consider that the Pampana Project produced more with local labour and hand tools than it had up to our first Extraction report in 2011.

For those who don't know we were up to two kilos of gold per month with local labour and hand tools. These yields were supposed to multiply with our mobile wash plants on site.

No gas, machinery upkeep or any of the like, just cheap local labour which we subsidized with food we grew for that very purpose.

If the Company has moved back to the Pampana Area it is very good news.

Thx for sharing. Thats probably worth a rum and coke if its true but you'll have to buy your own, I've lost to much money here.

After a lengthy absence I see real concerns continue which have dropped stock price but there are developments that could change that.

So you here it first I think climate Concerns will begin to build again as will the Carbon Market.

If we are back in the Pampana Area, extractions can multiply even without equipment and although Operating expenses are increasing our dredges can produce ever increasing yields.

The biggest drawbacks at this time is the onset of the rainy season with insufficient resources to cover Operating Expenses which will and likely already has led to additional dilution.

Probably won't be posting much, no reason to be really excited and still lots of negative concerns and developments to deal with.

One day the tide can turn to the green side if they last long enough to get there.



eye

I see they also declared a loan as Income.

Declaring Liabilities as Revenue sweetens up the Financials doesn't it?

How much Income was raised from Operations and how much was raised from actual Mineral sales last year?

How many shares were issued to raise those finances?

Do the math on that one.

Filings show that dilution has continued throughout 2011.

It would be very easy to show how dismally this company has performed.

Now what about the A/S, are they actually unlimited like they are allowed to be in Wyoming and what does that mean to shareholders.

Well if it is the case as is allowed in Wyoming it means the company can print as much paper as they like whenever they like without telling anyone.

There are much fewer filing requirements in Wyoming which is also regarded as one of the key advantages of registering in Wyoming.

Here's the simplest math of all.

Any dilution has direct impact on current stock value it also dilutes any possible distribution even if or when the company does become profitable.

Projections with this company have proven pointless and I have been guilty of some rather poitive Projections of my own.

See the CC Projections in the IBOX.

At this point only direct results will have any impact and determine when if ever we will be profitable.

As always the company is rather stingy with that info. That's not likely to change anytime soon.

eye

I haven't sold my shares but I think there is no way for the company to be profitable this year.

If they had performed better in the first three months there was a slim chance at profitability.

We are far closer to the end of the dry season than we are the beginning of it.

Those latest results are no where near enough to even cover Operating Expenses.

There is no doubt in my opinion that the greatest Income will come from stock placements once again as it has for years.

Only now I fully expect the A/S are unlimited because of our Wyoming Incorporation.

Posters here actually act like we even get to keep all our Extractions.

JV partners still get their cut and Operating Expenses must be paid.

Recent Extractions are not enough to cover Operating Expenses and will not be for a long time.

It will be interesting to see when the next Extraction Report comes out considering it took 4 months of the current Dry season to hear any Extraction Results whatsoever.

The longer Dilution continues the more likely shareholders will lose some if not the majority of their investments.

I am certainly not the only one to notice the failures of the company and as more shareholders lose their investments the more vocal they will become.

Of course they will walk as if on eggshells for awhile so as not to rock the boat.

The failures of this company are far to plentiful and visible to ignore forever.

IMHO the Extractions of the last four months have determined the unlikelihood of being profitable for another year.

Personally I don't expect another Extraction Report for several months to come.

The latest Extractions, continual dilution as indicated by actual filings despite those claiming otherwise and lengthy silent periods can not sustain the stock price.

with no drivers it will fall once again with the occasional mini movements generated by MM's to make some coin.

eye

Well Baker

The company has been producing gold waaaaay back when we had less than 150 mil shares O/S.

No matter what the count is today, the company hasn't been profitable yet.

Constant dilution without Profitability can not continue indefinitely.

Sooner or later others will start to question whats wrong with the picture.

I don't doubt many have already.

As for my part it would be way to easy to pick this company apart based on the facts alone.

As that won't help anyone at this point I will hold my piece.

My patience does have limits though.

eye

Only in Wyoming

Before anyone gets their hair up in knots let me explain something.

When Incorporating in Wyoming a simple entry in the Articles of Incorporation allow Corps to print limitless shares.

Even though that is true and can be proven by numerous websites it doesn't mean that all Corps do.

In order for them to print unlimitless shares they must file their articles correctly to that end.

None of this means that SGCP did file this way it simply shows that they could have.

We do know they have surpassed the Nevada A/S limit and that dilution has occurred throughout 2011.

With no Official declaration of the company of an increase to the A/S, it certainly raises the question.

Do we have Unlimited Shares currently at will.

There would have been a visible process to increase shares in Nevada as well as Filings and costs.

Wyoming has made it clear those rules do not apply to them.


One must also keep in mind that even if we do have unlimited shares available to us it does not mean the company intends to issue shares without number.

They have so far issued shares to meet Operating Expenses.

I have seen no evidence of lavish lifestyles by management at our expense.

Every share placed however does reduce the value of our investment.

In short I believe we have unlimited shares that can be printed but I expect the company to issue what it needs to continue and develop.

I do not expect careless Placements of stock unabridged.

They are selling stock because they have to and that will not end anytime soon IMHO but feel free to quote me 5 months down the road.

eye

Unfortunately it isn't that basic.

No where on the Wyoming SOS site does it say that the max A/S is 2 1/4 Bil shares

It is likely the number of shares O/S at the time of Incorporating there.

I have posted numerous links showing that Corporations can issue unlimited amounts of shares in Wyoming without any filings or changes to the Incorporation documents.

It is in fact one of the key benefits of filing in Wyoming in the first place.

There has never been an official increase in the A/S since Nevada.

We clearly see from filings dilution has continued throughout 2011 and the SOS share count already clarifies 2 1/4 Bil shares.

I believe as I have discovered, that there is likely unlimited A/S for SGCP and management would have simply had to declare so in its Articles of Incorporation.

Its just a basic entry that allows unlimited shares without the need for filings or declarations from management.

They don't have to tell anyone.


This is from CHAPTER 16 - WYOMING BUSINESS CORPORATION ACT



ARTICLE 2 - INCORPORATION



17-16-201. Incorporators.



One (1) or more persons may act as the incorporator or incorporators of a corporation by delivering articles of incorporation to the secretary of state for filing.



17-16-202. Articles of incorporation.



(a) The articles of incorporation shall set forth:



(i) A corporate name for the corporation that satisfies the requirements of W.S. 17-16-401;



(ii) The number of shares the corporation is authorized to issue, which may be unlimited if so stated;

Numerous websites show that Corporations in Wyoming can issue shares without number or restriction.

It simply takes a basic entry in the Articles of Incorporation.

If we are not currently at 2 1/4 bil shares as I believe we could be, we soon will be but Wyoming laws allow Corps to increase A/S at will without Filings or Investor Notification.

The reason I have hinted that there has been no official declaration of a share increase is because clearly none is required in Wyoming.

That's one of the main reasons Corporations register there but it is certainly not the only one.

eye

When and how did the A/S increase from 2 bil?

I see no filings or announcement.

eye

I know how they are doing it but has anyone come across an actual filing that increased the A/S?

How about even an Official Statement.

Filings in 2011 have shown continual dilution which has always been at a Premium reduction to market price.

That means anyone buying Private Placements is getting them cheaper than Market Price as has been clearly evident from Financials.

eye

That is a pretty astute observation and you are far more right than many will admit.

eye

Good for him if that is true however a Loan to us is still a Liability even if it is interest free and needs to be recorded as such.

Principle payments are paid against assets that retain value.

Liabilities are just debt that needs to be repaid but they certainly are not Revenues.

eye

A loan is a Liability and any Interest paid on that debt is an Expense.

A payment to a loan is not a payment on Principal it is a reduction to the Liability plus an interest expense.

Neither has anything to do with Revenues they are both completely different types of accounts in General Accounting Practices.

In the Balance Sheet a loan to us is clearly a Liability and should not be declared any other way.

The effect would be would be to distort the Financial Statement to give it a more Investor Friendly view.

The reality would be however that if these financials are used for Quarterly or Other Filings they provide a paper trail easily used against us.

It would be wrong to declare them otherwise.

If we make loans to others we can charge them interest.

That would be recorded as Revenues as I hope is the case here.

Filing false info or info not following General Accounting Principals could get someone in trouble in a hurry.

eye

The more concerning trait is that dilution continues to be the primary source of raising Capital.

I will compare this Balance sheet and filings to past Quarterlies to see what I can find.

Something else very curious to not is the 100,000 Income listed as Loans.

First of all Revenues generated from Loans are Liabilities and not Revenues.

To declare them as Revenues is incorrect and is an obvious ploy to enhance the Balance Sheet.

For Revenues from Loans to be declared they would have to be the interest we collected on loans issued by us to others.

If that is not the case here someone has a lot of explaining to do.

eye

Sorry Candy . I was off topic and was relating to the other stock we were talking about.

I should of stayed On topic.

Sorry.

I fully understand copper kings claims.

Glad to see Copper King is holding up.

eye

Not according to the last published Financials.

They put Management wages at 36,000.00 for a 3 month period.

Just how many managers do you think we have?

Although I have heard those claims before the facts are clearly contrary.

If they wanted to hide the fact they shouldn't have entered it in their profit Loss Statement.

Perhaps I will take the time to look at the Preceding Financials as well but I fully expect to see management salaries there as well.

eye

That is what I was predicting for quite some time but checking the link it reads to me as if simply the O/S has increased.

I wonder why no one seems to care lol.

Wyoming has unlimited A/S if the initial filing is done properly with that in mind.

CPRK is holding up amazingly well despite its position.

It could easily go either way but I like what the shareholder group has accomplished and have to say that seems to push it to the positive side.

The increase in recent prices seems to confirm that mindset.

Thanks for the link though.

Good luck on your investments.

eye

I have no idea what is even going on with that company and have consigned my certs to wallpaper.

If something ever comes of it maybe someday they will start trading again.

Feel free to fill me in on that one.

This bk is a volatile play.

Its like the post that said the next news will launch it or sink it.

The only difference I feel concerning that post is that the stock has made an amazing recovery to now.

That is an indication of positive investor confidence considering the company's position.

If the mill had been profitable this would all be a moot issue. They either need to build a new one or fix the old one and this can still be a favorable ending.

Truth is I haven't followed this stock enough to know whats going on but I do know that shareholders have been recognized in the Proceedings.

Thats a very good thing.

I also know there are true Professionals reevaluating the situation, equipment and resources.

Therefore hope remains.

eye

Been away from the board awhile so I am not sure about the video you are referring to.

Naked Shorting continues to be a huge problem in especially the pinks and OTC BB stocks.

I have seen companies claim they were being Naked shorted in huge amounts when in fact management had issued and sold unregistered shares instead

Could give you the name of one recent one but it is off topic.

The most notable of course was the to da moon stock CMKX.

That one is on topic because they called for a massive cert pull.
Hundreds of Billions of stocks were pulled in cert form.

They called for the paper cert pull which eventually just cost investors more with nothing in return.

I was told by my Broker at that time that shares held in electronic cash accounts could not be Shorted but shares in margin accounts could.

I got paper certs anyway and they don't even make nice wallpaper.

By all means make your own decision just sharing some of my own experience in the matter.

Having been through it myself at considerably less cost than you quoted I find it was a complete waste of time, effort and money in my case.

This is a different stock so should well be considered on its own merits.

From what I can see this could be one of the few BK companies that could emerge with shareholders intact and still holding value in their shares.

That already makes them unique.

Canadian Tax laws make certs a greater risk.

In order to declare a Capital Gain or Loss the shares must be disposed of.

If you get the certs as I did and the stock becomes non trade able you can no longer redeposit them into some brokerage accounts. Mine was one of them.

You can therefore never dispose of the shares should things go bad.

There are ways to write off those losses however if they had remained in electronic form.

BK companies have to be considered at risk to become untradable despite appearances. They are extremely risky and can turn quickly.

This one could also turn for the better and already has.

It could also turn for the worse.

I wish you well in your decision but have been burned on paper certs myself in the past and hope the same doesn't happen to you.

This will always be a favorite board of mine.

Good luck to you all.

eye

That sounds kind of steep and you should consider they will charge the same to get them back into electronic form if you ever want to trade them again.

It is also a timely process both ways which could cause a lot of anxiety if you do it at a time something important is happening.

Of course once you take that action its already to late to do anything about it.

Getting Certs IMHO and experience isn't worth the time, cost and effort.

Sorry for butting in.

I am happy to see this stock doing so well in spite of its major challenges.

eye

There has been several incidences where info was shared with shareholders in conversation with John before it ever became or did become Publicly Released.

Getting excited about it now is pointless in lieu of the major challenges ahead.

There has been far more to be concerned about than mere conversations with management.

A lot is riding on the next Extraction Report and I will give them the grace to get that done before calling the company to task once again if they require it.

Although the latest gains are refreshing it really is just hype and expectations driving it.

There is absolutely no Extraction or Revenue data so far and none expected till about half way through the current Dry Season.

Nothing less than Monthly Reports is acceptable if the company does value their shareholders but Quarterly Reports are better than nothing.

If that's what its going to be though they are going to need phenomenal Quarterly Results.

Hopefully there are at least a couple of Extraction Reports between April and June.


eye

One or two Extraction Reports per dry season will not sustain stock price and additional dilution should ultimately have more direct impact on stock price than sporadic Extraction Reports.

If on the other hand they did have phenomenal results why wouldn't they put out monthly Reports?

At least they are planning one actual PR detailing Extractions.

If the dry season is our bread and butter than nothing less than monthly Extraction Reports is acceptable showing increasing results as the dry season progresses or at the very least Recurring Revenues.

If you don't Promote your business or build on momentum in the height of your Operational Stages you never will.

The Dry Season is crucial to the company's survival and especially this one.

They need to not only produce but show continual growth as the season progresses.

eye

The Dec Field Report doesn't seem to claim our
CC Projects are in the Advanced Stage unless I missed it here somewhere.

We have moved ahead positively and retained the services of a new carbon credit consultant who is more suitably aligned with our future goals for the company. The work has begun internally to continue the development of the carbon offset initiatives in Sierra Leone. The Company has conducted work to establish the benefits of a project for the sale of carbon offsets from its leased lands to the regulated or the voluntary markets in Europe and North America, respectively. In particularly, we have investigated the project development options, offered to us from the different types of Forestry-related methodologies of different protocols for the purpose of creating a carbon business plan that will permit the sale of ex ante carbon credits. Priority was given to begin drafting a project with high potential of success, while eliminating the need for large development costs. This was achieved by using as a template, a Project Development Document created and approved by the UNFCCC for afforestation of degraded lands in China. We anticipate completion of draft PDD by early January.

In addition, field work has been undertaken in Sierra Leone to assess the growth potential of Kiri trees imported as cuttings from Australia. Our preliminary results show poor transplant survival rates, presumably owing to a transit period of 10-12 days which we believe is excessive and deleterious to the survival of plants exacerbated by a lack of water. However on a positive note, of those cuttings that have survived, qualitative analyses suggests that the growth of Kiri trees in Sierra Leone can resemble published fast growth rates for Australia for Kiri trees.

That actually sounds like we had to basically start over and had a poor survival rate in our test plot.

The carbon Projects could have a positive influence somewhere down the road but don't count on it anytime soon IMHO.



eye

Strangely enough, the carbon Market is something that could actually have a positive impact on stock price as it has in the past.

I was extremely positive and excited about the Carbon prospects at the time myself.

The problem is the world did not respond to it in Copenhagen and Global Financial concerns exceeded Carbon Markets and Environmental Spending.

That means the Enviroment took a back seat to Financial Priorities and concerns.

There is still no replacement for Kyoto and although there has been sporadic interests in Carbon markets in several different countries there has been no unified position to support let alone dictate a carbon market.

Our CC failings are one thing I actually do not fault current management with.

They had no control in the carbon market or its apparent decline after Copenehagen.

One of the fundamental problems is that countries like China and India wanted to be recognized as Developing Nations even though I wouldn't be surprised if China is the largest Carbon Producer on the Planet.

The carbon market still shows signs of life occasionally and could make a differance but the last report from our Project was less than stellar.

It still could have a positive impact somewhere down the road.

eye

Yep yep yep, just like all the other Extraction Reports have done so far since leaving the Pampana site.

By the way when is the next Extraction Report due?

We are in the peak of the dry season in a make or break season and the company is going to inform us how far into the season to see how effective they are?

I wonder if they will publish the Expenses it took to get whatever Extractions they finally do announce.

Maybe in 9 months if they are even still required to furnish Financials.

or maybe we could just tap into the unlimited A/S Corporations can be allowed to issue in WY.

You know the ones that don't need filings, or immediate disclosure to Investors they can just sell or place shares without anyone knowing for months on end.

The documents I posted indicate that unlimited A/S means permission, filings to increase the A/S and informing Investors of increases in the A/S can be no longer required.


Who knows with WY relaxed Filing Standards maybe the company doesn't even have to file Financials anymore.

We all know what those have shown.

We know the company wants to raise a Mil in Revenues from Equity sales and we know that SGCP could be entitled to inlimited A/S if they filed their Incorporation documents correctly and we also know the last two reported quarters of losses on losses that an average of over 62% of Revenues came from Equity Sales.

Who wants to bet that if we went back 2 to 3 quarters before that we find similar stats.

If indeed SGCP filed for Unlimited A/S in WY the share count will mount quickly and no one will even know about it.

Lets see 176 Mil shares raised $ 75,000.00 how many will it take to raise $ 1,000,000.00.

eye

If attacking me diffuses the facts have at her.

I understand the desperation.

Apparently many here prove my point.

I will continue to post the facts as I always have.

Do with them as you wish.

Tired of bantering with you all.

I will post verifiable facts as I always have.

eye

I do have other interests and you do make a good point.

I make no apology for posting the facts though.

eye