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plumo, forgive me for not clarifying. The insider selling was up to Dec 2009. That is when everything stopped, selling, news, communication.
Here:
http://www.marketwatch.com/investing/stock/WWEI/insideractions
When PO** began it's parabolic rise the outstanding shares were 637 million. Now at a share price of around .06, the outstanding shares are about 4 billion. The company diluted the outstanding shares during the price rise. Subsequently, the share price fell.
CGFIA had a similiar price run up over a year ago with a much smaller amount of outstanding shares than it has today at around 10 billion. Like PO**, CGFIA also diluted the shares during a PR campaign. If we were to compare Potage to CGFIA on a price history versus O/S dilution basis, then CGFIA could be valued at near 2 cents.
It would be a far more realistic method of valuation to add up the worth of all assets, reserves and mill earnings potential and factor in the outstanding shares. That is why the patient ones are waiting for assay results and mill progress before making price predictions.
Well you are fortunate if you have have gotten in at 1/2 cent and your optimism is understandable. We old timers bought in at a much higher share price and won't see returns until a major uptrend materializes. A couple of us are so discouraged and weary of the agonizing decline in conjunction with management's assurances, that it would be quite painful to buy here. Besides, with the present lack of volume, a simple buy order for 10k shares can raise the price 40% only to flop the next day.
I would buy more if convincing, verifiable news appeared. Of course the stock would jump as I buy and lucky guys like you would probably be selling me your shares at a tidy profit.
Yes, Yatu has potential. Now there is a company to invest in. Larry announced a venture whereby WWEI would market Yatu's turbines in America. Another fizzled plan.
Thanks for your thoughts poster. That would be a pleasant outcome. Of course, in that case we commoners are simply going to have to wait and find out our fate. I'm not selling and I am not buying. Time will tell.... well, so far, much time has told very little.
escape81 my old friend, you are too generous. There isn't a management team. Shannon bailed out and Tammy is AWOL. There is virtually 0 volume in dollar terms indicating there is no institutional or retail investor interest. In regards to Larry attracting big investors; there is no financial data that would interest any diligent investor. The income projections, progress timelines and partnerships announced over a year ago vaporized.
Larry mentioned that he tapped his family for investments, and he is probably still getting coal in his Xmas stockings from them. I don't see how anybody else could be persuaded to invest in light of his failure to come through with any projection or promise.
The only insider activity has been Larry and Tammy selling. Sure they have not been increasing the float of outstanding shares. That would send the shares to .0001 and not generate enough money to make a SUV payment for Tammy. My personal cynical scenario is that Larry's silence about his utter failure keeps us bagholders from selling. So the company still exists with a record of prior PR's full of hope and good news. This makes for good print on Larry's resume.
Yes, I am full of sour grapes.
Still hanging around. I'm sure not going to sell. No official word from the company for over a year after all the hype and blather is no basis for hopeful speculation or doomsday scenarios. We are flat lining. But it is pleasant to get together and chat like this once in a while.
Very interesting reading fox. Old documents can be treasure maps. I did Ground Penetrating Radar surveying in a mine in CA, targeting areas determined by a study of old records from the mining company. Areas deemed played out in the past can be revitalized with new tech.
Of interest in the report is our general proximity to the Cortez tailings and and other mines, and the statement:
Where one great mineral deposit has been found, it is a truism of geology that there is a better than normal probability of finding
others "One hunts for elephants in elephant country."
Yes, very interesting Mike. 8% drops in gold are invisible on the long term chart. Thanks for sharing the articles. We are in the right ball park, just waiting for our team to hit a homer.
Great charts. As the pundants say, from lower left to upper right. The gold chart has yet to go parabolic on the long term. When it does and the general public rushes in to become involved, in the past, the junior mining stocks make wild moves. That is when all rational estimations of the target price of CGFIA go out the window.
Meanwhile, the juniors miners ETF is grovelling, indicating that the general investing public are still non believers. If CGFIA can stay afloat during this gold mining stock consolidation period, the price appreciation could be quite surprizing. The company's sizable outstanding share dilution and large "A/S" have made old price highs an irrelavant gauge. Yet, when a frenzy for gold mining stocks begins, who knows?
Personally, I am still buying as I can pick up a million shares for the price of dinner for two in Newport Beach.
You are correct according to Forbes. I got out of A##O with part of my hide left, and put the money into CGFIA. Small world. Had I done DD like you, I might not have gotten into this stock. I hope new investors don't let his connection with the notorious Mark Klock impede their decisions. That said, I am buying more CGFIA this week based on Rice's merits rather than his associations.
http://people.forbes.com/profile/lee-r-rice/119470
Lee R. Rice
Director, President and Chief Executive Officer
Colorado Goldfields, Inc.
Lakewood , CO
Sector: BASIC MATERIALS / Industrial Metals & Minerals
Officer since July 2008
Independent Director , Alto Group Holdings, Inc.
South Jordan , UT
Sector: BASIC MATERIALS / Industrial Metals & Minerals
Thanks! Much appreciated. I think I'll open a second account with Scotttrade so I can keep buying.
Thanks RKYMNT. I'll just not worry about transfers and have two accounts. I had Fidelity once before but I thought their commissions were way high for penny stocks which is why I went to what was then Waterhouse. Perhaps they have changed. I'll look into it. Many here have mentoned Scott Trade. I'll check that out too. Thanks again.
I'm stuck at TDA with their chill. Has anyone contacted CGFIA investor relations as TD reccomended? Any conjecture as to when or if the chill will be lifetd? Finnally, are there any suggestions as to a broker that will sell CGFIA to me?
I just read that China GD Power Development Co. and China Guangdong Nuclear Power Group would work together to build three nuclear power plants.
Somebody is succeding out there.
Good work Sathington. Some of us may have not been as diplomatic as you. I'm not selling. Ha
With due respect to the notion that MM's respond to "ask slapping" by raising the bid, I subscribe to the concept of supply and demand. When more shares are being sold than bought bid and ask both go down.
In that environment it is foolhardy to purchase shares at the ask. I did that at .0008 out of loyalty and look what happened to me. When CGFIA backs off from massive selling of shares and comes out with good news then big money will move in and demand will outweigh supply. That is how markets move, not by puney investors like me slapping the ask hoping to change the world.
Hey escape! Let's start a band, the Bagholders. We'll play the Blues ... with a humorous edge.
Plagerizing Jim Croce:
I got the steadily depressin'
low down mind messin'
hangin' on to Welwind blues.
I think the price is above 000 because the McNabbs have sold all of their shares and there are no more sellers, only bagholders like me holding on.
estimator, that is the kind consideration we need during tough times. I'm down 60% and unlike others here I can't get excited about this slump as an opportunity for averaging down because I have no funds.
Had I known back in the 0008's that the A/S would increase and dilution would become regular I would have waited for the final good news to buy shares. But I bought on the rumor, intending to hold on the news.
I do like CGFIA, but when it is down so drastically it hurts, and I may seem like a whiner. But I won't sell and move on as some suggest to those expressing dissapointment.
I envy those who are cheerful presently because they focus on the long term. I simply can't help cringing because I could be buying here like others. Lack of glee doesn't indicate lack of optimism. Thank you for your respect, and I do hope to meet you in Silverton when we all will be smiling.
Good news for CGFIA today, bad news for shareholders.
Good argument troger. I hope we find out how valid your calculations are in the not too distant future.
Thank you ficose. From my perspective your 6% was well spent because your due diligence has influenced and become an intergral part of my DD.
A very sobering thought grizzly. Let us hope for the best ... in all areas..
So Grizzly, "what IS to come!".... Do you know something beyond the facts we are weighing against the parabolic raise in O/S? I am sticking with my investment until whatever the outcome.
Ha ha, Ouch .. red ink. I feel almost fanatic about cushioning for the shock of the demise of the dollar which has already lost 94% of it's value since the Federal Reserve was created in 1914 or whatever. And much of that loss occured in the last 10 years.
Precious metals seem to be the answer, and the right jr miners will gain in multiples of the metals.
I appreciate your big picture synopsis 567. If bonds fall and rates correspondingly rise, as new treasury bills are issued the already horrendous debt interest payments owed by USA will force unimaginable money printing and consequent hyper-inflation. This is good for gold and CGFIA, but I feel strange rooting for our investment which is the reciprocal by cirumstance to the seeming decline of Western Civilization.
Thanks for sharing that aandt. There is at least a faint pulse in what I thought was a dead horse.
I heard that the debt ceiling limit stalemate is a ploy by Republicans to pressure Obama to cut entitlement spending. The debt limit is raised regularly and the process is sometimes used as a scheme for political gain.
When we reach QE 10 and gold is 12000, perhaps our children will rebel against the scam world leaders are pulling on us called fiat money.
Bless Ron Paul, Utah and others trying to bring about a gold based money, but the present powers are ingoring reason. So I am aquiring precious metals and stocks, my favorite still being CGFIA.
Good points pro. Now to find that entry point. I've already established a position before the excelleration in dilution began. The company to me has a good story and it looks as though production is on the way, but progress seems to have been at the expense of the share price.
It would be good to have your input here Scotia. Pacific has been good to me. CGFIA has similiar promise.
Yes, my old friend, I still check in. I'm just not clever enough to come up with anything interesting to say since there has been virtually no official word from WWEI for a year to comment about. It is ironic that we were once fervent supporters and now come across as bashers.
I still have all my shares that I accumulated from 16 cents all the way down. Larry talked about the dicsomfort around the Christmas dinner due to him having gotten his family to buy shares. Thankfully my parents and girlfriend love me and chide me lovingly for having helped them lose their money too.
Well, we didn't lose the money yet since we haven't sold. Ha, if we sold all our shares at today's trading volume the stock would've plummeted.
Besides there is always the outside chance of a miracle.
I've been around for about 4 years too. I thought we had a winner. Now I feel like we are all standing around a dead horse placing bets on win, place or show. A year ago I began getting tired of cheering though.
I hear your lonely voice of reason overandout.
I loyally bought on the ask at 7 and 8 and am now down nearly 40% while simultaneously the O/S has increased 50%. My measley purchases can never balance the billions of new shares entering the market. The stock is clearly in a down trend and I surmise that the company is diluting shares at the bid.
With an A/S of 15 billion and dilution continuing, my unemotional strategy would be to wait and see if we start hitting 4s and even 3s then double down. Or wait until there is a clear uptrend to buy. My dreams of 10 cents and beyond are shaken by comparing the reported assets and income potential with the O/S. I will now be happy to see a penny. A reverse split is entirely possible.
I am not bashing, and I love this company. They have expenses and no credit line.... not to mention high wages to be paid. The thoughts I expressed must have crossed the minds of others. My optimism must be tempered with a realistic look because I don't have unlimited funds to keep averaging down at every upbeat PR and subsequent price drop.
Xineo, Some posters here have presented well thought out projections based on outstanding shares, assets and the price of gold. Most rational of the estimates are between 1 and 5 cents, not dollars. Optimistic projections call for 10 to 25 cents.
If gold were to go to 5000 in the next year as a couple of reputable gurus anticipate then $1 may be plausable.
But the company authorized 15 Billion shares and if they choose to "dilute" those shares into the outstanding float then the price will experience proportional downward pressure.
I am constantly accumulating shares because if the price goes to only a half a cent I'm going to be quite happy. Furthermore, the facts seem to indicate that the company is making headway through the red tape and will truly be a functioning mill and mining operation eventually
You are a crack up MT. Keep it comming. I love your diligence due or not.
Thank you troger, very interesting.
Great analysis overandout. I would like to see a similiar analysis of book value or asset value of the resourses aquired. That would give us an idea as to earnings potential beyond the milling income. Maybe even a hypothetical PE ratio could be constructed.
$25,000 a month is fine with me if he earns it. Give him some time to prove his worth. I'm not going to complain if I am making more than 25k per month in capital gains.
Good research 567. Uranium is a good play right now as the Japan tragedy has brought on negative sentiment. I own Laramide and other uranium companies because they have become tremendously undervalued.
China is still planning nearly 70 new reactors, and though Western Europe is phasing out reactors Eastern Europe is building. A simplistic argument made is that Oil and coal have caused more environmental dammage and human illness than nuclear has. Wind, solar and other options are still just not catching on in a big way.
Regardless, uranium is depressed in price now and will rebound. If CGFIA aquired the properties at the current market discount, they have made a wise long term investment without a need to lift a shovel.
killeray52 Thank you for serving. I'm hoping for a happy birthday in November. But it seems as though the company is striving to get things going before next winter. I do hope to see them utilizing the warm months getting the operation up and running. That would make all our birthdays happy.