I wonder what the rules on disclosures are... can the CEO 'update' the shareholders without anything official? Or is that against some SEC rules? It'd be really nice to hear from Rod even something as innocuous as "I'm meeting with a few potential investors in March".

The dead silence sucks. The price of the shares is basically just moving for no reason (since the big drop after the AS increase).

there are a couple other possibilities for a valuable asset to not get funding for so long... one of them is inept management. Sadly, this is what I'm hoping for. LOL I'm hoping that this CEO and these directors have been so inept, that they will eventually make money in spite of themselves as I've seen so many people do before.

i always agree with you and this time is no different. Totally agree!

positive about the possibilities but still proceeding with caution.

The fundamentals are a good guideline for a target pps but there are a few things to keep in mind that we haven't touched on. In reading through SIRG's sec filings, they have stated explicitly that when the operation starts up, they will be using cash capital to grow the company instead of distributing it with dividends. For a mining company, that could obviously mean exploration on their own property but it could ALSO mean purchasing of other properties elsewhere (not necessarily just copper).

When/if we get funding, at the current market price of copper, the operation will be one that creates a LOT of cash. The profit margins are very high. Having a few million in cash after 6 months to a year would give SIRG a LOT of flexibility to expand.

So add the fundamentals to that possibility and you could see a pps of much higher than whatever the current fundamentals say the book value should be. I'm not saying $5 per share but a few years down the road with enough expansion and who knows?! If I get a chance later, I'll copy/paste the part about expansion instead of dividend from the 10Q. I think it was in the 10Q.

I totally agree.

Probably so, but if funding can be secured quickly -- say within 3-6 months, the notes don't have to be converted right? I was hoping that the big increase to 1.5B was to have flexibility in terms of a long term funding solution and hopefully NOT to get more short term funding from Asher.... but of course, "hoping" hasn't done me a lot of good in the past. LOL

I think you nailed it. It's probably additional shares for Asher conversions. But who knows, maybe it's also to allow more flexibility in terms of funding for later on? that would be good.

agreed.

who knows, you might be right gbrown but let's not add 'occam's razor' to the end of all our posts and pretend it is some sort of gospel that is always true. there are a million instances in history where the more complex explanation was the correct one. the world was flat at one point, the sun god moved the sun, etc, and so on and so on.

Could it be the Asher group? Manipulating the price to make a better conversion deal for themselves on future financing? It's so weird. Who sells 2,000 shares and gets hit with a fee of the price of the sales. it seems to make no sense. maybe it's the TH Stockhunter guy who apparently hates sirg? lol

I always laugh at the fact that I'm supposedly in this stock for the 'long run' -- which for me means a year or two or longer -- and yet I check it 4 times per day and rejoice with the gains, and get beat down by the losses. Yep, many of us here are nuts. lol

According to my account I have the shares even if no one sold them to me. lol.

It's confirmed in my scottrade account, it shows in my new total share balance, but it's odd. When I made the trade, the Ask was @ .0023 for 5,000. I made the trade and it immediately went through for the total 215,000. Can you see the total volume from yesterday? I don't know how to look at that.

hmmmm, just scooped up another 200k in shares... couldn't resist at these prices. the weird part is my stock account says trade was complete but volume hasn't budged from 4500 and the price i bought at was .0023 and the price still shows .0018. weird.

the selling could be the Asher group continuing to sell regardless of price to recover their money after the last conversion we previously discussed.

Love when people waste their own time posting negative things about a sub penny stock. If you're looking for established companies with great cash flow, you're probably not in the right place when you're posting on a sub penny stock board.

We are here in the waiting room because we see the potential for this stock that has not yet been realized. The possibility exists that it will NOT be realized... and I'm actually GLAD that possibility exists because if it didn't I never would have been able to buy-in at the price I bought in! So, YAY!

Check back in on us in a year or two but posting about how the SP is going down the tubes makes little sense at this point.

whoa nice. i hadn't looked at the last 10Q (shows how informed i am lol)

1.2 MILLION tons sounds like a LOT of material. can someone pls do the math and tell me how much the copper and other valuable materials in that are worth based on metal prices today?

thanks

chill peeps!

the fact that 5M shares got traded in a single day a few days/weeks after the outstanding shares increased pretty much says that the people 'dumping' is the loan company that converted and caused the outstanding shares to pop up to 180M (previously discussed by imcat).

but going back to other discussions today, i agree about Rod being very unproven. i know nothing about him except that he has a supposedly valuable asset but hasn't been able to get funding. we don't know how much tailings there are so we don't know how valuable that is. but the mine itself has a lot of value, why is it so hard to find someone who wants to make a TON of money? even in a down economy? i HOPE he can take us to the promised land, but if it continues with no news for some more months i hope the board strongly considers making a move.

which leads me to another thing. why DON'T we know how much tailings there are in total? why isn't that on the press release about the tailings? and why couldn't i find that press release anywhere but on this board? it's one thing to be conservative with info but jeez, they should get the word out when they find tangible value.
Darren

Sounds logical. I like it.

well, that answers that question. no one has $5M lying around? lol

how much funding is necessary? are we talking like 500k or like 10 million? not that i have either but just wondering if this is something that 30 or 40 invested shareholders could pull together and help provide rather than those toxic loans.

Thanks for all the info again! Unless I lose my day job (knock on wood), I'm gonna keep these shares for a long time so I'm looking forward to them getting the funding and getting the mine going sometime next year.

Yeah, i usually keep my activity pretty quiet so I don't normally join anything. lol

I've been buying it in chunks up to 2M. the final average price for my entire buy was $0.0042 (so technically i'm losing right now lol)

thanks for the info! My info for outstanding shares is from my scottrade account but maybe it isn't that reliable for that which is sort of concerning.

so each time this loan converts we dilute slightly?

Question about outstanding shares

Hi all,
I'm sorta new to investing in general-- i'm also new to this board. I signed up because I had a question. I bought a couple million shares of SIRG some months ago and appreciate all the posters/investors on here. My question: What made the total outstanding shares jump from 140M to 180M a few days ago? I don't see an 8K or anything as of recent. Also, does that mean what I think it does? Which is that my 2M shares just fell in value by a good chunk? Bashers, please don't respond... I want to hear from people who are serious about SIRG.

Thanks in advance All,
Darren