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.
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.
They have been in production for 5 years now, add all of that up, sell it at todays prices, then pay the bills and see what you have left to buy back anything with. Go do the math on all that gold and silver.
They have blue sky to pay for first and they have to do that with what is in the ground still not what is in the bank.
If they cannot pay their light bill how do you figure enough cashflow to buy back that many shares? They are diluting to pay the rent....what color is the sky in your world today?
When Steve Parent was running the movie he tried to get this company on the big board, it failed in part because it had not proven the reserves it claimed as assets. That then killed the price share runup it created. The drilling results may well be considered a proven reserve and values can be set on the results. A two penny stock may not qualify for the AMEX so a R/S corrects that part. With a 200-1 R/S already voted on and approved by the majority shares held by the BOD it looks to be a nobrainer. I believe the R/S approval is limited to some time this summer or it has to be voted upon again. I cannot imagine why the management would not do the R/S at this point. They need to reduce the number of shares and increase the price to draw in new investors. That takes the price up, they then dump the millions of shares they have acquired at a huge profit taking the price back down where they can do it all over again.
Look at the production of this company. At full production they can barely pay the bills. Even with record gold prices and 25 year high silver prices they barely pay the interest and light bills. A better grade of ore will not reduce the cost of mining it or managing it. They have no other investments to rely upon. Just more of the same. Long term will not change this scenario. Take the little profit along the way, it is always there. A 10% profit now and then and before you know it you have doubled your position. Do not be afraid to trade in and out of this stock. If you are sitting on shares it may never get you anywhere.
Hope everyone took their little profits off the table and are getting ready to buy back in again????
The Fed pouring money into the banks set the gold price in limbo temporarily and the exit to safety theory is a herd mentality. Eventually they will come back and the juniors will be the first place investors will look. That time just got set back by the Fed action. Meanwhile....we will find a new bottom here hopefully with higher lows going forward from here.It will be slow so people you need to be patient. Wait for results and news to help then SELL into it;buying back when it settles. TAKE THE LITTLE MOVES IN THIS STOCK.
There may never be another Leach Permit issued as it is so environmentally sensitive and not considered politically correct. Which means, one day other claims in the area may contract with goldspring to leach their ore for them.
Water is a huge concern in that area. The Mill and the permits are the greater value in this company. Without them, you have a pile of dirt.
Talking heads are speaking of $200 oil in the near future. So who really knows???? If the dollar continues to weaken and inflation takes over, that could happen some day. Makes this outfit look a lot better.
I'm old and so I don't care where we get rich as long as he gets it done and the sooner the better. Southern money spends just fine for me.
You are correct, I did not go read your link as i had just finished reading about it on another site. Your point was made and I am not here to argue it. One way or the other what you say is true and I agree.
Your point makes this company even more attractive to anyone especially the third world status countries that are smart enough to not make the same mistakes as the great USA.
I believe Buffet is still on top of the heap and is ahead of the Mex by over $2billion. Gates comes in third behind the Mex.
That is 25,000 tons per year. They had the leach heap at full capacity. There are always weather concerns involved. This is their full production capacity. The only difference to come is that they will add to the leach a better quality of raw material and the final product coming out will have a higher market price. At what cost? And how much dilution to pay for drilling, interest, management etc? For this to see a dollar a share it will include a R/S. There is far too much dilution now and more on the way.
They have to pour and deliver to prove themself. That will have to happen this summer with good weather and no excuses. Third quarter reports are critical to this outfit.So if you are in this, be very patient and do not expect too much too quickly as that is unlikely to happen here.
These are not minimum wage talents and money to pay for all them has to come from somewhere. Production would be a great place but most likely it will come from dilution.
What was last quarters production figures? Cashflow vs. cost of keeping the lights on will tell you what this outfit is worth. For years now they have spent money they don't have and cannot pay back without dilution. That is why this is still a 2 penny stock at a time of record PM prices. Management got us to this position without any foresight. If this cannot take off now, in this market scenario, it never will.
If he is on the ticket, I agree.
What you are really saying is vote for Ralph Nader.
Which makes for a double positive on this stock.
Drill results looming large AND supported by a largely overdue and sudden runup in silver prices at a time of low stock prices for everyone to enjoy.
If this company cannot make it now, it never will.
I have said recently ...this is what it takes, high silver prices to get the attention of investors. If this gets screwed up it goes right to management. Only a moron could kill this goose, let's see what happens.
The time is finally here for this company, if there was ever a shiny nugget under that pile of manure it better shine bright now.
The drilling results are do or die for this company.
Look at this company for th elast three years...When the price of gold moved over $500 this stock did nothing. When gold went to $600 this stock went lower. When silver moved significantly higher, this stock did next to nothing.
Look at th echarts on this company for th elast two years. It showed the same junk it shows today. Then Merriman and friends dumped huge numbers of shares into the market and held it down, dilution and issued shares to keep the lights on followed making the charts on this stock look stupid. I would not put much into what the charts say on this company.
Hope for the drill results to take effect on the price. Play the bounces at every opportunity. Get in and get out of this stock with whatever free shares you can accumulate and ride the freebies long term.
I've been in this one for years and that is all that has worked with this company. This is not a long term hold stock. Look at the price of gold, the production record and the number of shares. What is the real worth of this company? The upside is fairly limited, but then so is the downside from this point.
Play the little bounces people. The big players own this action and it is out of your control.
If memory serves me correctly,
I believe a reverse split has already been voted on and approved by shareholders at some time in the past. A year or two ago perhaps. I think it is on the books someplace from an annual meeting report or such. I barely remember having a vote on several matters which I think included the R/S issue.
100-1 comes to mind.
If I am mistaken, I beg forgivness now.
Contracts, money and hope abound.
This stock has been manipulated down and held down for years. They used the lawsuits and weather as their best excuses, and there was some validity to that....but, people when Steve P. was running the show they were filing to move onto the big board. The thing that kept them off the big board was the fact that the reserves were unproven. Keep this in mind as the drill results are being verified.
Then Faber teamed up with Merriman and issued huge numbers of shares in exchange for usurous rate loans that could never be paid back except with more huge numbers of shares. All those shares promptly hit the market at discounted rates and tore the shareprice of this company to shreds. The slaughter went on for several years. The company could barely keep the lights on. Constantly searching for new finances. Bad management made mistake after mistake.
Finally after all these years and subpenny prices they get a little drilling done and flaunt good results. They will use this to their advantage and trade large numbers of shares on manipulated prices until one day....probably when silver is at an all time high [because the drill results are mostly silver content]they will get this to .05 or so and announce a 100-1 reverse split. They will reduce the shares, announce the reserves and take a $5 share price to the big board where it will promptly find a larger investment audience to draw in. Then they will drop the millions of shares on the market, take their big profit and leave the game.
They have patiently played this stock. One thing really hurt their game, that was when the overseas market jumped in and shorted this stock heavily before anyone figured it out and got us off the German board of trade, look up the history for yourself on this.
We are only now recovering from the manipulation. We remain totally dependent upon the bull market in pm's to even survive. This is not a long term buy and hold stock. The profits here will come from trading in and getting out. There were near zero volume trading days for months at a time, now millions a day come and go. Get some, take the small profits on the bounces and keep your free shares. Set your goals very low here and you will do much better. It has been that way for years and I see very little evidence that anything has changed significantly.
If it somehow miraculously takes off super big, there are plenty of shares for everyone to get in at any time. That is not even a concern. Holding large volumes of shares is not wise with this company, you will most likely get disappointed.
There is value in this company. Understand that it is very limited. If not for the leach permits it would not exist.Do not set high goals with this company. Good people have come and gone from this outfit over the years, they could not fix it.It is lucky to even be alive today, it circled the toilet many times in it's life.
Good luck to everyone. Get yours while you can.
I'm not sure if a bushel of soy hulls weighs the same as a bushel of full beans. I am also uncertain of the oil content in the hulls vs. the whole bean.
I am certain soybeans will not stay in the $12-$13 range forever. Acres and production will increase in both the US and South America, unless demand goes off the scale for soybeans the price will come down again, long term soybean prices should level off around $8 more or less and perhaps lower.
You are correct about soy diesel plants not operating because of high soy prices.
Thank You. You reinforce my point.
If they do something now they will not have to end up like the USA someday with billions in trade deficiet every year.
Maybe they are not going to spend it all at once. Maybe they actually have the money in reserve someplace. Maybe they have the ability to borrow it from another country. Maybe they spend more than that amount with nothing to show for it every year if they don't do something different now. Maybe it creates jobs and helps the local agriculture industry. Maybe they just go a free vacation to Baytown for show????? That would be a great first choice of golfing destinations.
I think there is a golden nugget somewhere under this pile of manure and they saw it once. They'll dig in the manure until they get it.All this effort just to smell like manure???? That is a bit of a stretch.
I think they have authority from some source in order to even suggest such a statement. Perhaps private investors? Military budgets? Foreign funds? International monetary funds? Or a combination of all of them?
To hear such a figure thrown about gives me pause as well. That is a huge number from the poverty section. But what are they spending as we speak? And where does it come from????
Just curious, what if the test results on the drilling is not significant? Huge volume last week or so, who is selling millions of shares? Who has that kind of volume to move? The same people that already know the test results, that's who.
The company needs cheap money, this is a great way to get some.They better hope the results are good and they better not get caught fluffing the actual report.
I'm not expecting a huge gold content per ton, i am looking for a decent silver content. Let's see how Faber presents the results to shareholders. Keep this in mind, the annual shareholders meetings run by Faber required armed security and shareholders were only allowed one question, that question might not get an answer.
This will be a better company when Faber is gone. Until then, play the bounces where you can or you will wish you did.
Management change would be good depending upon who comes in.
I'm with you on the test results from the drilling etc. They say what they have to in order to push up the price. Take the profits as it moves along, accumulate all the free shares you can along the way. It will move. Hit the day lows to buy, find a price to sell at. Don't worry about the whole train left the station thing, if it takes off you will have plenty of time to get on board. If you make 10% sell it and buy back in when it falls back, it will bounce up and down. It may bounce in a tight pattern, it has for years now, so be prepared to take what you can as it moves along. As for buying and holding long term, there may well be much better stocks than this for that kind of investment.There are just too many O/S for the minimal production this company will come up with. Silver is the big element with this company, not gold. When silver prices move significantly higher, that will be the time to have a bigger chunk of this company. If silver breaks fast and you think it will go to $50, make sure you own some of this company because that will bring a lot more attention to this. $900 gold is not making a lot of difference here, why not? Well, look to the production record here. What did they put out last quarter? How about the quarter before? Or even last year? Keep this in mind as you answer that, the silver production was not reported as silver, it was figured in as gold priced. They get far more silver than gold. The silver should not be overlooked, but then either should the Big Mike copper pile...the pile that has been sitting there doing nothing for years now.
There is potential for a profit here. I think you will do better to stay active in trading this stock. Waiting could prove to be very slow here.
Wishing everyone the best here and looking for it to move soon.
My advice is to play the bounces. Take the profits and keep the free shares. There has been far too much dilution in this company to feel comfortable with long term ownership. There will have to be a reverse split to cut the number of shares in the float. With the current prices you can catch moves of 5% or more and build free shares to sit on for long term.
When Steve Parent left and Faber took over he went to Merriman for money to keep the lights on. They issued huge numbers of shares which quickly hit the market and took down the share prices. It went from .75 to subpenny with Faber in control. The only people who benefitted were the attornies and Merriman with his 15% loans and default agrements.
There will never be enough production to offset the current number of shares issued with any real value, no matter what the price of gold or silver is.It takes a reverse split to get things back in order.
The real value here is the permit and leach pits. Otherwise this company would have closed long ago.
Thanks SmartFuture, I appreciate you and the best to you as well. If your DD turns up anything of interest be sure to let us know would you?
Ok Stocktrader, but i will watch from the sidelines with what I have left. He has not impressed me for years now and my expectations of him are very low. Perhaps he has learned as he went along and we will see a better, smarter guy from now on.
Still, where is all the copper? It would pay off the debt. Figure the value of the copper against the number of shares out and tell me the value of this company without the silver or gold. Then cancel the debt and give me a figure. I believe it is considerably higher than where we are at today. It has kept me in this for a long time, yet nothing happens. The value is there, management needs to figure out how to get it and market it.
I am one of those guys. I did it to average down stock I had years ago, before Faber came in and took the prices to the cellar. I sold for a 400% profit on the 00 shares and almost got even on my money after all these years. I'm holding a little over 28,000 shares at about a penny now and will keep them forever if this doesn't actually do something noteworthy in the years ahead.
Faber has been a disaster for years, a major disappointment. Gave up on him when he stopped being available, didn't return calls at all to anyone etc. Still have NO faith in him and think he needs to go once and for all.
The lawsuits may be settled but debts still exist and dilution was extreme. The copper still sits there at a record price and management pays mafia interest rates to maintain debt. That is poor management. In todays low interest rate world there is no logic for it. A good manager would cure the problem and brag to investors for his efforts. Currently we hear very little about what the company owes , to whom it is owed and at what terms.
what about the Big Mike Copper pile? That is what brought attention to investors as well. When copper was only $1 a pound the pile was to be worth $25 million. Now copper is $3 and the pile seems to be up someones rear. What happened to that deal?
Faber did not file paperwork on time and the penalty was millions. That is what killed this stock. Lawsuits did not help. management is the biggest problem here.
I wonder what effect it would have
if a web-cam were installed in the warehouse so investors could watch the daily effort and developments happening. Instant accounting of activity on the home page. It is not very expensive to maintain especially for a multimillion dollar campany.Seems to me accountability has been a major issue with this company and that becomes a simple method for JR to remedy some of it. Just show investors what is happening on a daily basis. No "secrets need to be displayed, just progress.
Smitty
There must have been something worth stealing.
Or was his paycheck too cheap?
Yes, but go where the money is....Japan, not Tonga.
The German CD process is commonly used in soy oil to make soy diesel. Conniver Diesel is a centrifical process. it is less than perfect and the leftover glycerin is what causes the problems with gelling up. The extracted glycerin is not worth anything, maybe two cents per pound.
Smitty
JR needs to learn Japanese.
They have lots of money to invest and a huge need for a better fuel.
The DR is fine but they have very little money, like most poor countries they want someone else to finance them. JR, go where the money is.
Smitty
There would be no taxes applied at the wholesale level. The road tax is not applied until it is used on the road.
Smitty
100million gallons a year, where does that happen to sound familiar from???? 10% of 1 billion.It's a start.
Smitty
Ok, makes for easy math then. $100million.
If you go ahead and use the figure of
a billion gallons of bio-diesel per year then say we capture only 10% of that to use the OD-66 in and you will still have 100million gallons of bio-diesel to work with.Now go figure the additive on 100million gallons and see where the numbers take you.
Wasn't the additive figure somewhere in the $20 range or something????? I don't have time to look it all up.
Smitty
I thought the $1 a gallon was on the fuel not the additive. Isn't the additive higher priced and better refined???
Smitty
From todays market reports. I think i will stick around for a while and see what unfolds....
Nationwide renewable fuel mandates are being heavily debated. Many states have announced they will be increasing their fuel mandates in the near future in an effort to promote renewable fuels. These are mainly in the Midwest where the fuels are made. Other states are not as eager to impose mandates, as they would spend more in transportation of fuel than they would save by using renewable fuels.
These mandates are also becoming an issue for the next farm bill. Many Congressional leaders believe mandates are a method used to support fuel prices, which instead should be determined by supply and demand. There are also concerns that mandates could cause food grain shortages in some regions of the US, and fuel shortages in others. What we could see is different blend rates in different states, with the heaviest usage being in the Corn Belt.
Chinese import officials made an announcement this morning that they had discovered poor quality soybeans in US deliveries. Authorities in China claim inbound soybeans contained weeds, dirt, and pesticides. US officials were quick to dispute these claims, stating some of the claims were from deliveries made last February. Their belief is the accusations are more political, and will be resolved shortly.
September corn finished the session 9 cents higher at $3.47, and September soybeans were 15 ½ cents higher at $8.31 ¼.
Smitty