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SIRG was DTCC chilled and forced to have a complete forensic audit done. So what discrepancies are you claiming?
If you want to see discrepancies, try checking out the GDSM financial disclosure statements!
Quarterly Disclosure Statement March 31, 2012
Gold Coast Mining worked diligently to bring its financial filings and disclosures current on Pink Sheets. The Company has filed all delinquent reports and returned to CURRENT INFORMATION status on the Pink Sheet Tier system. In the last quarter, a total of 135mm new shares were issued to eliminate debt and share issuance obligations, as well as to secure capital for legal, accounting, Pink Sheet Subscription fees and other
necessary expenses to bring the Company’s filings current.
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=83293
--------------------------------------------
Quarterly Disclosure Statement June 30, 2012
Gold Coast Mining worked diligently to bring its financial filings and disclosures current on Pink Sheets. The Company has filed all delinquent reports and returned to CURRENT INFORMATION status on the Pink Sheet Tier system. A total of 125mm new shares were issued to eliminate debt and share issuance obligations, as well as to secure capital for legal, accounting, Pink Sheet Subscription fees and other necessary expenses to bring the Company’s filings current.
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=89815 P.9.
WOW a 10,000,000 share discrepancy in their signed financial disclosure statements. SEC gonna love that!
No need to pay me, my only pay is the size of my growing SIRG profits.
Exactly what employees does GDSM have? Have not seen any work related results yet! Can't even hire an accounting firm in 10 months! Can't schedule a meeting in a month?
I mean, what does it take to call Mr. Chaffee and set a date and place. There are lots of meeting rooms available in Prescott so no problem there.
Marc failed to release the bucket test results! Sure hope he is getting those private investors lined up to be sheared.
SIRG has lots of operating expenses, Rizzo and the accounting firm needed to be paid along with CDM Smith.
At least SIRG is spending the money to get the job done. It will be the joke of a century when WSRA and GDSM apply for an APP! Did Jenkins really move to Oregon?
WSRA couldn't even get the GC exploration permit approved! Way too funny.
Neither! But I had the feeling that the widow of a large shareholder might dump his shares and so I watched NBRI's failure to climb and sold. I like to take profits when a stock starts to go south it's time to get out.
Yes, you and we are both missing Redshirt1, a former mod on SIRG, who was removed for absolutely no reason. And SKA remains a mod despite having a double alias! At least his alias got the boot so now he has to talk to himself.
I bought NBRI at .08 and sold it at .13. It was a nice stock but with the constant delays both at bringing the mine into production and the EB5 funding plus the CEO selling shares, it has a long road to recovery.
NBRI is going to need to find some huge nuggets ASAP.
Arizona has laws and regulations to protect the water supply for its citizens, something that should have been done 100 years ago! Look at the billions of dollars that the EPA has spent to clean up toxic sites!
That is why WSRA will be required to get an APP permit!
Maybe you would accept your well water to look like this!
I guess the reputation of a CEO is not important! When the CEO of a company is a low life, nobody has to stoop down to expose him.
Paul Lovito cheated on his FINOP exam! What kind of scumbag does that? Later he was charged and convicted of fraud! And this was GDSM's CEO? If GDSM was an OTC company Paul would never have been allowed to be the CEO but GDSM is a stinky pinkie!
http://c0403731.cdn.cloudfiles.rackspacecloud.com/collection/papers/1990/1994_0101_NASDNTM-18.pdf
Maybe if Marc gets out of his beach chair he can set up that meeting, hire a registered auditing firm to start that uplist process he promised last Dec. 21st!
Wrong and like I said Redshirt1 had not been on the SIRG board for a week, he was dealing with health problems. The time limit is 30 days before a mod can be removed for inactivity! There was no reason for him to be removed other than to place another GDSM guy on the mod squad.
Mod positions on the hub are a joke. Explain how 3 SIRG longs that were mods were replaced by THREE GDSM guys! None of us resigned!
And why are they still there since the war is over???
I was a mod for 1 1/2 yrs and was booted and replaced by Warmy.
And Redshirt1 had not even posted in a week and he was replaced for NO reason! And he owns stock in both GDSM and SIRG!
Sorry now there is a seller at .0087 but that is good. SIRG does not need to leave a bunch of gaps that could cause problems later.
But for the first time in months the Bid/Ask has tightened. Bid .0086 Ask .0087.
How an old-style mining scheme works.
From David Baines column in the Vancouver Sun from earlier this week. The Silverado CEO has been milking the stock for his personal enrichment for years - 42 years, to be exact. Silverado has never really been a serious exploration company at all. I bet those are the very same gold nuggets he has been trotting out at investment shows and photographing in his promotional literature for many, many, many years. All Silverado really does is sell very cheap Reg S stock overseas with much of the proceeds ending up in the CEO's pocket through sweetheart "exploration" contracts. As David points out in this, and many other articles on Silverado he has done through the years, this has been going on for 42 years. They have blown through $105 million of investor's money and run into regulatory issues on both sides of the border numerous times. But yet he somehow keeps finding people willing to soak up all that cheap Reg S stock entering the float. This is a good example of an old school exploration promotion. Not like the quick Pump and dumps we see nowadays!
Silverado again on verge of riches, promoter claims Gary Anselmo has been hyping his company for 42 years, but so far he's been more mouth than miner
'I know Silverado (Gold Mines) has been around for, I think, 100 years. Am I close?" Shelly Kraft, the ebullient host of U.S. stock tout service SNN Live asked Vancouver promoter Gary Anselmo during a videotaped interview at the Cambridge Resource Investment Conference in Vancouver on Aug. 20.
"Pretty close," Anselmo replied. "We've been working in Alaska for 42 years. We've spent $150 million on our properties and taken out about 40,000 ounces of gold on a test basis."
Anselmo's patter, oftrepeated, came smoothly and easily. He said Silverado, now based in White Rock, has "two of the largest antimony producers in Alaska." Happily, he noted, the price of antimony had increased six times, to $13,700 per ton, during the past two years.
"We are also taking these quite beautiful gold nuggets out of that property, up to 40-ounce pieces," he said, showing some chunks of gold in the palm of his hand, like a schoolboy showing off his frog to the class.
"Ladies and gentlemen," Kraft gushed into the camera. "Forty-ounce pieces they are taking. You don't hear a lot of that."
"No you don't," Anselmo agreed. "Our one project we just finished spending $40 million. It's ready for production, it's permitted, 30-man camp built, roads all in. Another $4 million and we are turning $3 million a month net -"
"My goodness," Kraft exulted. "You've got to feel top of the world - I'm gushing with excitement for you." "Well I appreciate that," Anselmo said. "We have still got to raise another $4 million to finish our job, so we are still looking for private placement capital for that purpose."
"Well, at this stage of the game, it's got to be easier than first money in. I mean come on now," Kraft cajoled, as though this would be as easy as collecting eggs from a hen.
"That's for darn sure," Anselmo replied.
Well, I'm not so sure. Anselmo, now 68 years old, always seems to be on the brink of success, but he never seems to get there.
Silverado, which he founded, has never been profitable in its 42-year history. During the past decade, it hasn't generated a cent of revenue. Its cumulative losses are now $105 million US, but the book value of its assets is only $2.4 million.
Where did all the money go? Much of it went to Anselmo's private company, Tri-Con Mining Ltd., which conducts exploration work for Silverado on a "cost-plus" basis.
In 2008, I calculated that Tri-Con's split amounted to $425,000 annually during the previous 15 years. So it's been a very lucrative arrangement for Anselmo, but not so much for shareholders.
In 1980, when the company was trading on the old Vancouver Stock Exchange, the stock peaked at $10.50, but soon fizzled out. In 1993, when it moved to Nasdaq, it enjoyed a revival of sorts, trading as high as $3.50. It is now trading on the lowly "pink sheets" in the United States at one-quarter cent per share.
Anselmo keeps playing at the margins, though, selling billions of shares for fractions of a cent, mainly to off-shore investors who hope they can unload their stock for a slightly higher price.
Problem is, much of Anselmo's hype has been misleading. In May 2008, BCSC enforcement staff issued a cease-trade order against the company after they discovered a host of disclosure problems. (The order applies only in B.C., not in the United States.)
In one case, Silverado said it had identified $41.2 million worth of "inferred in-place antimony resource" in just one small segment of its Alaska property.
Under pressure by the commission, it admitted this estimate "does not consider factors such as costs and, as a result, overstates the potential value of the deposit."
Silverado also heavily touted a memorandum of understanding with Mississippi authorities to build a plant to produce coal water (a so-called "green" substitute for oil). In November 2007, Anselmo explicitly stated that the company was "entering the construction phase" and the project was "expected to be onstream as planned."
Under pressure from the commission, he admitted that "no steps have been taken to proceed with building the low-rank coal water fuel demonstration facility" and the company was "no longer pursuing" the project.
After the company came clean with these and several other matters, the BCSC lifted the cease-trade order, but not for long.
In January 2011, the commission found more disclosure problems and imposed a new cease-trade order.
In July of that year, Anselmo admitted the company had "disclosed non-compliant and potentially misleading resource and reserve estimates not prepared by a qualified person and not supported by a technical report."
He submitted a new technical report and asked the commission to revoke the cease-trade order, but it remains in effect. Under the Securities Act, a trade is broadly defined as an actual trade, or "any act, advertisement, solicitation, conduct or negotiation directly or indirectly in furtherance of a trade."
That raises the question: Does Anselmo's promotional patter in the SNN Live video constitute a breach of the cease-trade order?
Anselmo insists he wasn't promoting the company: "Shelly grabbed me out of the audience, he asked me a few questions and I answered," he said in a brief phone interview on Tuesday.
Didn't his responses amount to an invitation to buy the stock?
"I'm not a lawyer," he replied. He isn't much of a miner, either.
At least not yet.
dbaines@vancouversun.com
Rod has always used top companies to complete necessary projects for SIRG starting with ALS Minerals of Reno who did the assay tests on the tailing piles. Then Paul C. Rizzo Assoc to handle the MPO and EA, and with CDM Smith for the APP. His selection of MARCUM s the new accounting firm continues his choice of top companies.
Clearly his goal can be seen and that is to build SIRG into a top junior mining company. This goal is reflected by the quality and experience of the members of SIRG's BOD.
SIRG hired CDM Smith, an international company with a Phoenix office to modify and get the APP transferred.
Facts about CDM Smith
CDM Smith provides lasting and integrated solutions in water, environment, transportation, energy and facilities to public and private clients worldwide. As a full-service consulting, engineering, construction, and operations firm, we deliver exceptional client service, quality results and enduring value across the entire project life cycle.
World Headquarters
50 Hampshire Street
Cambridge, Massachusetts 02139
Tel: +1.617.452.6000
Fax: +1.617.452.8000
Established - 1947 as a partnership; incorporated in 1970.
Size - More than 5,000 employees working from offices worldwide.
Ownership - CDM Smith is employee owned, instilling pride in our work and allowing us the freedom and independence to put our clients first.
Organization - Closely aligned with our clients, CDM Smith provides services through the following major business groups:
Client Services, Europe, Middle East & Africa
Federal Services
Industrial Services
Public Services, North America East & Latin America
Public Services, North America West/Central & Asia
Through a matrix structure, these units are supported by the Consulting & Engineering Divisions and the Construction Division—all working together to deliver integrated consulting, engineering, construction, and operations services worldwide.
Services – CDM Smith offers full services—consulting, engineering, construction, and operations—across the project life cycle in water, environment, transportation, energy, and facilities.
Clients - Government, business and industry.
SIRG built a nice base at .008 and look at the Accumulation line climb along with the money flow index. The RSI is a very nice 63.27 showing how primed SIRG is for a break out.
The Rizzo Report increased the reserves and they are higher than previously estimated. The existing ore below the current bench levels from 3695 to 3420 values known between 3420 and 3310 could add another 13 Mlbs. Many holes were abandoned with higher than cut-off grade Cu values in and around the existing pit. Their continuation at depth could prove additional resources. Based on the forgoing, it is safe to assume that the current known resources would provide a minimum of 50 Mlbs of ore; at 5Mlbs/annum, that would support a 10 year mine life.
http://www.sierragroupinc.com/wp-content/uploads/2012/05/L10-Chloride-Copper-Resource-Report.pdf
You say you "recently 2x'd my position to match my upgraded conviction levels".
Does that mean you averaged down?
Consolidated due diligence information on the SEC litigation against Fairhills Capital (E-Lionheart) and the OTC-Link (PK) companies that have used them for financing.
According to the SEC complaint, Edward Bronson and E-Lionheart Associates. LLC (also doing business as Fairhills Capital) bought billions of shares of substantially discounted unregistered non-exempt stock from approximately 100 OTC Link (PK) companies and illegally dumped them onto the public market allegedly reaping over $10 million in illegal profits.
Fairhills also goes by the names Fairhills Group and Fairhills Capital Management, LLC. The funds are named Fairhills Capital Offshore Opportunity Fund, Ltd. (based in the Cayman Islands), Fairhills Capital Master Fund, LP (also based in the Cayman Islands) and Fairhills Capital, LP (based in NY). The name Fairhills Capital Offshore, Ltd. is also sometimes used,
The SEC charged Fairhills Capital, Inc. as a relief defendant as many of the ill-gotten gains were deposited in accounts owned by that corporation which is owned and controlled by Bronson.
Fairhills was considered a "family office" that recently entered the hedge fund business: Family Office Builds Out Hedge Fund Business NY family office compared to hedge fund
Related/similar forums: Big Apple Consulting (BAC) Clients Clients of TJ Management
Known OTC Link (PK) clients of Fairhills Capital and related entities that issued free-trading 504 shares (list under development):
* Companies in which the transfer agent is not listed on OTC Markets show the most recent TA in red.
TICKER COMPANY TRANSFER AGENT ATTORNEYS INVESTOR RELATIONS CEO/OFFICERS OTHER FINANCINGS STATUS
AERN AER Energy Resources, Inc. Action Stock Transfer Stanley F. Wilson (also CEO) Stanley F. Wilson Non DTC-eligible
ATIG Atlantis Internet Group Corp VStock Transfer Barrett & Linn CP Baker Securities Donald Bailey DTC Global Lock
BBDA Bebida Beverage Company Madison Stock Transfer Martin & Pritchett,
Marshall & Peirvincente Wall Street Branding/Tom Allinder Brian Webber TDA chill
BCAP Baron Capital Enterprises. Inc. Continental Stock Transfer & Trust George J. Tate Matthew P. Dwyer
BMGP Biomagnetics Diagnostics Corp Integrity Stock Transfer Jody M. Walker, Cane Clark Paul Hardman, Emerging Growth
Research, (Equiti-Trend) Clayton Hardman Magna Group
BORK Borque Industries, Inc. American Registrar & Transfer Agency Gary L. Blum John M. Borque
CNEX Cannon Exploration, Inc.
* Global Sentry Equity Transfer
Leonard Aronoff Damiana Morales DTC Global Lock.
No bid
DNAD DNA Dynamics, Inc. * Stalt, Inc. John D. Thomas Elite Financial and
Communications Ed Blincoe,
David Lovatt Magna Group,
Hanover Holdings
GIHI GIGH Globalgroup Investment Holdings, Inc. Action Stock Transfer Andrew Coldicutt, Stanley F. Wilson Fred Rackers
GGII Green Globe International, Inc. Transfer Online Chris Kimmes DTC Global Lock.
No bid
GOIG GoIP Global, Inc. Manhattan Transfer Bradley E. Essman Issac H. Sutton DTC Global Lock.
No bid
HFBG Hall of Fame Beverages, Inc. Action Stock Transfer Vincent & Rees, Cameron Linton Jessica A. Guitierrez Capital Edge. Protege DTC Global Lock, No bid
HSCO Hi Score Corp. Signature Stock Transfer Sommer & Schneider Michael Zoyes
TJ Management, Equit-Trend,
Asher Enterprises, Magna
Group, Green Streak
DTC Global Lock.
No bid
ICBT ICBS Limited Capital Transfer Agency Westerman Ball Ederer Miller & Sharfstein Garth McIntosh Non DTC-eligible
No bid
IJJP IJJ Corp Transfer Online Tod A. DiTomasso,
Kimberly Graus/Rudge (Boost Marketing), (Big Apple
Consulting) Clifford Pope Magna Group, BAC No bid
IMJX ImageXpres Signature Stock Transfer Patrick R. Brown John S. Zankowski DTC Global Lock.
No bid
IPWG International Power Group, Ltd Routh Stock Transfer Gracin & Marlow Daniel Conte,
John Benvengo DTC Global Lock
No Bid
LCRE Lecere Corporation Corporate Stock Transfer Ryan Alexander James Morris TJ Management DTC Global Lock
LGTT LIGATT Security Internationa Island Stock Transfer The Perry Law Group Gregory Evans DTC Global Lock.
No bid
MIKP Mike The Pike Productions, Inc. Madison Stock Transfer Johnathan D. Leinwand, Vic Devlaeminck The Neumark Group Mark Newbauer
PHAR Pharmstar Pharmaceuticals, Inc. Old Monmouth Stock Transfer Joseph L. Pittera Tommy Johnson Howard Phykitt Non DTC-eligible
RFMK Rapid Fire Marketing, Inc. PacWest Transfer Davis & Associates Thomas Allinder Non DTC-eligible
SNDY Solos Endoscopy, Inc. Pacific Stock Transfer Brian F. Faulkner Boost Marketing, (Big Apple Consulting) Robert Segersten BAC
SGCP Sierra Gold Corporation * Capital Transfer Agency Douglas Evans DTC Global Lock
UNQT Union Equity, Inc. Action Stock Transfer Jillian Sidioti, Kimberly Graus/Rudge The Cervelle Group, (Investors Development Group), (Boost Marketing),
(Big Apple Consulting) Charles R. Lance EMSEG, Southern Lending Solutions. BAC No bid
Conversion of promissory notes or preferred shares by Fairhills Capital entities under Rule 144 by PK companies:
(Unsure if these stock sales are included in the SEC litigation. EDWY may also have issued Rule 504 shares)
TICKER COMPANY TRANSFER AGENT ATTORNEY IRP (FORMER) CEO/OFFICERS OTHER PP STATUS
EDWY eDoorways International Corp ClearTrust Arne M. Ray, Gersten Savage (Abel L. Pierre) Heritage Corporate Services Gary F. Kimmons Magna Group Non DTC-eligible
SUTI SUTIMCo International, Inc. Interwest Transfer Co. Brian f. Faulkner. Boost Marketing, (Big Apple Consulting) Fred Rodgers BAC
TDEY 3D Eye Solutions, Inc. Pacific Stock Transfer Carl N. Duncan Boost Marketing, (Big Apple Consulting) Robert Zysblat BAC
OTCBB/QB Companies that did floorless PIPEs with Fairhills Capital - related entities:
(These companies may not be part of the SEC litigation)
TICKER COMPANY OFFICERS STATUS
AQLV Aqualiv Technologies, Inc.
ARTS Artfest International, Inc. SEC suspension, GM/CE
BFLX Bioflamex Corp.
FLTT Flint Telecom Group, Inc.
JAMN Jammin Java Corp.
LBSR Liberty Star Uranium & Metals Corp.
LSTG Lone Star Gold, Inc.
NECA New America Energy Corp.
SAVW SavWatt USA, Inc.
http://investorshub.advfn.com/Clients-of-Fairhills-Capital-25493/
Hondo mine scrutinized
7/19/2012 6:00:00 AM
Ahron Sherman
Miner Staff Reporter
Hondo Minerals Corporation, which operates the Tennessee and Schuylkill mines in Chloride, received three notices of violations from the Arizona Department of Environmental Quality in the last month-and-a-half.
Two of the violations, one for discharging water without an aquifer protection permit and one for not having a permit for storm water discharge, were sent to the company on May 23.
The third violation was sent on June 11 and alleges that Hondo operated two combustion engines - each over 325 horsepower - without an air quality control permit.
Hondo has 30 days from the moment it received the two water violations to respond to ADEQ and 60 days from the day it received the air violation.
Within the responses, Hondo must either prove the violations never occurred or present documentation outlining how it plans to get the required permits and correct the alleged problems.
The mine site and its metal concentration plant are capable of producing gold, silver, zinc and other metals, according to Hondo's website. The property was at one time the largest producer of silver in Arizona. Construction of the plant began in 2011.
"We have received the notices and have been actively working with ADEQ staff toward addressing their requirements," said Hondo CEO William Miertschin.
Mark Shaffer, ADEQ director of communications, said Hondo responded to the storm water discharge violation by paying for a multi-sector storm water discharge permit.
Hondo filed a notice of intent with ADEQ, but the agency wants to see a storm water pollution prevention plan for the project, Miertschin said.
The company hired private consultant Mohave Engineering and Associates, Inc., a civil engineering, surveying and material testing company, to prepare the plan.
Hondo expects to present the plan to ADEQ this week, he added.
"An Arizona pollutant discharge elimination system permit is required for pollutant discharge from any source on the site to a water of the United States or a separate storm sewer system," Shaffer said. "I don't know the topography of this site, but many of these types of operations are typically in rugged desert hills in which the drainage into arroyos would be considered a water of the United States."
Hondo has not set up a pre-application meeting to acquire an aquifer protection permit, which it legally must have to discharge at the mine site, Shaffer said.
An aquifer protection permit is required in Arizona if you own or operate a facility that discharges a pollutant either directly to a subterranean aquifer or to the land surface or vadose zone (the area between an aquifer and the land surface) in such a manner that there is a reasonable probability the pollutant will reach an aquifer, Shaffer said.
Right now, the site is a zero-discharge facility, Miertschin said. In the future, Hondo may need to discharge pollutants, so the company is pursuing the permit anyway.
"It's very important that mining operations follow state law and acquire the proper permits before they start operations," Shaffer said.
"Our investigation of this matter is ongoing and a lot of this is dependent on the pre-application (aquifer protection permit) meeting in which we actually sit down and meet with them and review their engineered drawings."
The meeting allows Hondo to discuss issues relevant to getting their permit, such as groundwater monitoring, design, best available demonstrated control technologies, operations and closure.
The meeting would also be used to determine if an individual or general aquifer protection permit is appropriate, according to ADEQ documents.
Hondo still has until Aug. 12 to come into compliance with the air quality violation, and the company is still within its 60-day deadline to respond, Shaffer said.
Miertschin said the engines are not permitted, but that they fall within ADEQ compliance guidelines.
"We were caught unaware on this one," he said. Newly enacted regulations require the permit for the engines, but Hondo didn't know of the rules, he said.
Next year, the engines will be out of compliance because regulations are set to change once again. They will need to be retrofitted in order to remain compliant, Miertschin said.
"The investigation on the air quality side is ongoing," Shaffer said. "We can't speak to the seriousness of that violation or (explain) what is next until we receive a response from them on that matter."
It is the responsibility of the company to have all permits required for their operations to be in compliance with the law, Shaffer said.
Though construction was yet to be completed, the Mining State and Health Administration designated the site as an operating mine on May 17, said Hondo Operations Manager Rhena Drury.
This led to ADEQ discovering the violations, even though the site didn't go live until June 27.
"I told (ADEQ inspectors), 'What you tell us to do, we'll do,' " Drury said.
Hondo has worked closely with ADEQ since, but "we're just a little behind the curve."
All one has to do is check OTC Markets and see who SIRG's accounting firm is.
SIRGE Sierra Resource Group, Inc.
Common Stock OTCQB
0.010.002 (25.00%) at 13:07:01 ESTReal-Time Best Bid & Ask0.0075 / 0.01 (1 x 1)Why is size 1?
Contact Info
9550 S. Eastern Ave.
Suite 253
Las Vegas, NV 89123
Website: http://www.sierraresgroup.com
Phone: 702-462-7285
CIK 0001076966
Fiscal Year End 12/31
OTC Market Tier OTCQB
Profile Data
SIC - Industry Classification 6770 - Blank Checks
Business Status Development Stage Company a/o Mar 31, 2010
Incorporated In: NV, USA
Company Officers
J. Rod Martin CEO
Barton R. Budman CFO
Timothy Benjamin Secretary
Company Directors
Timothy Benjamin Chairman
Barton R. Budman
Carlos F. Cardon
Paul Enright
Luis Munoz
Service Providers
Auditor/Accountant
Marcum LLP
750 Third Ave
New York, NY, 10017
United States
Someone who has read SIRG's 10Qs for the past two years and is therefore familiar with them immediately noticed a change in format clearly showing that they were prepared by a new and different company.
There is also a dispute over control of the teachers at each school. The Principal wants to be able to hire and fire his/her teachers which are now controlled by the union.
This seems like a separate issue between the principal and the union and the schoolboard.
Also the teachers do not want their student's test scores to count against their ratings.
Hey if a teacher fails to teach he/she should be waiting tables somewhere.
Read the post again. Simple to figure out the answer!
SIRG has a 30 day grace period for FINRA to do the SAS Review. SIRG longs are not worried as evidenced by the return to penny land today!
This has already been discussed and dismissed on the SIRG board!
SIRG has had decent volume every day. We can see how tight the float is when it leaps from .0081 to .01! People are going to be chasing SIRG soon.
Show: Daily |
Date................. Volume
Sep 10, 2012..... 370,000
Sep 7, 2012....... 977,580
Sep 6, 2012....... 523,571
Sep 5, 2012....... 533,000
Sep 4, 2012....... 416,000
Aug 31, 2012..... 310,004
Aug 30, 2012..... 118,600
When Rod discovered that the permits that were "good for the life of the mine" were not able to be transferred with a "Notice of Restart" as several previous reports stated it meant a new ballgame and at least a six month delay.
But Rod hired Rizzo & Assoc and they got the MPO approved. Then he hired CDM Smith to get the APP modified and transferred. They are in that process now.
When you are dealing with government agencies you are at the mercy of their timetable.
So a six month delay puts SIRG into 2013 when they should be ready to start loading the leach pad!
If anyone followed as many mining companies as I do they would quickly realize that things don't always fall in line as planned but SIRG is doing fine.
They might even beat the Oracle Ridge mine to production!
I Heard You Paint Houses: Frank "The Irishman" Sheeran and the Inside Story of the Mafia, the Teamsters, and the Final Ride of Jimmy Hoffa
Book Description
Publication Date: June 1, 2004
HEARD YOU PAINT HOUSES is a fascinating account of a dark side of American history. The book’s title comes from the first words Jimmy Hoffa ever spoke to Frank “the Irishman” Sheeran. To paint a house is to kill a man. The paint is the blood that splatters on the walls and floors.
Frank Sheeran lived a long, violent, passionate life. As a boy he took on older kids in bar fights so his dad could win free beer. During World War II he was a highly decorated infantryman with 411 days of active combat duty and a willingness to follow orders. “When an officer would tell you to take a couple of German prisoners back behind the line and for you to ‘hurry back,’ you did what you had to do.” He became a hustler and hit man, working for legendary crime boss Russell Bufalino and eventually becoming one of only two non-Italians on the FBI’s famous La Cosa Nostra list. He was also a truck driver who was made head of the Teamsters local in Wilmington, Delaware, by his good friend Jimmy Hoffa. When Hoffa disappeared on July 30, 1975, Sheeran became a leading suspect, and every serious study of the Hoffa disappearance alleges that Sheeran was there.
For the first time the Irishman tells all — a lifetime of payoffs (including hand-delivering bags of cash to Nixon’s attorney general John Mitchell) and manipulation (supporting Joe Biden’s election to the Senate with a Teamster action) — for the book that would become his deathbed confession. He died on December 14, 2003.
Sheeran also provides shocking new information on notorious mob hits: Joseph “Crazy Joey” Gallo — blown away as he celebrated his forty-third birthday in New York’s Little Italy; Salvatore “Sally Bugs” Briguglio — long suspected of being a player in the plot to kill Hoffa. And offers new insights to the crusading of Robert Kennedy and the death of John F. Kennedy.
This historic account is based on interviews of Frank Sheeran by Charles Brandt, who researched, cross-checked, and illuminated what Sheeran told him and turned it all into a gripping narrative that is sure to become an instant true crime classic.
READ HOW A UNION ORGANIZED NEWSPAPER STRIKE ENABLED BIDEN TO WIN HIS SENATE SEAT!
De Niro Confirms I Heard You Paint Houses With Scorsese, Pacino And Pesci
The materials are there, the film’s got a fantastic director and cast, now we’ve just got to wait for that green light. While I’m always hesitant of being prematurely optimistic, who argues with De Niro? My money is on this film happening sooner rather than later.
http://www.cinemablend.com/new/De-Niro-Confirms-I-Heard-You-Paint-Houses-With-Scorsese-Pacino-And-Pesci-23508.html
Someone who does not know where the Gettysburg address is or what countries border the United States should not be voting.
I recently had a brief conversation with a lady and she said she voted for bama but thought she might vote for "the other guy" this time!
New mass strike hits Gold Fields mine in South Africa
Posted: 10 September 2012 2032
JOHANNESBURG - Around 15,000 workers have downed tools in South Africa at a Gold Fields mine west of Johannesburg in the latest work stoppage to hit the vital mining sector, the company said on Monday.
The strike, followed by around a third of the workforce, is the second at the KDC mine, one of the company's three gold mines in South Africa.
Gold Fields is the world's fourth gold producer and South Africa's second.
"Employees of the west section of the KDC Gold Mine... on the West Rand in South Africa have been engaging in an unlawful and unprotected strike since the start of the night shift" Sunday evening, Gold Fields said in a statement.
"Approximately 15,000 employees are participating in the strike and all production at KDC West has been suspended as a result," it added.
A strike by 12,000 mine workers at KDC's east section near Johannesburg ended on September 5 after a seven-day stoppage. The workers had demanded a change in leadership at their local union branch.
The reason for the latest strike was still unclear, "but we hope to gain clarity as soon as possible," said company head Peter Turner.
Gold Fields said its senior management was on the mine "engaging with the striking employees, the various unions and other structures, with a view to finding a speedy and peaceful resolution to the unlawful strike."
The latest Johannesburg strike follows a deadly wildcat strike at platinum giant Lonmin's Marikana mine, which started exactly a month ago and left 44 people dead, 34 of them shot by police in a crackdown.
The Lonmin unrest has been blamed in part on rivalry between the main National Union of Mineworkers (NUM) and a splinter union Association of Mineworkers and Construction Union (AMCU).
Lonimn workers were still refusing to return to work on Monday despite a "peace accord" reached by one of the unions and the mine management.
Experts see labour unrest continuing in the mining sector until a key conference of the the ruling ANC party slated for December.
"It's almost become contagious," said Crispen Chinguno of the sociology department at the University of Witwatersrand in Johannesburg.
"Although workers have genuine labour grievances, it's gone well beyond labour unrest.
"Some politicians are hijacking the disgruntlement among the workers because the mining sector is at the core of political, social and economic order in South Africa," he said.
Gold Fields, which is listed on the Johannesburg and New York stock exchanges, produces 3.5 million gold equivalent ounces (nearly 100 tonnes) a year, according to its website.
The company operates eight mines in Australia, Ghana, Peru and South Africa.
http://www.channelnewsasia.com/stories/afp_world_business/view/1225173/1/.html
Nice for SIRG.
DJ BASE METALS: Copper 3.6176 Climbs on Expectations of China Stimulus
Sep 10, 2012 By Tatyana Shumsky
--Comex December copper up 1.3% at $3.6910/lb
--Weaker industrial production data from China fans hopes of stimulus
--Investor expectations of QE3 gather momentum as Fed meeting draws near
NEW YORK--Copper futures marched higher Monday as weaker economic data from China bolstered investor expectations that the world's largest copper consumer will institute new measures to support growth.
The most actively traded contract, for December delivery, was recently up 4.60 cents, or 1.3%, at $3.6910 a pound on the Comex division of the New York Mercantile Exchange.
China reported that its industrial production rose 8.9% in August from a year earlier, a slowdown from July's 9.2% on-year increase, and the slowest growth since May 2009. The value added industrial output figure was also less than the 9% increase predicted by economists polled ahead of the release.
"The economic data on China released over the weekend appears to have already heightened assumptions that the authorities will be forced to take action," said Walter de Wet, head of commodity strategy with Standard Bank, in a note to clients.
Copper prices rallied as investors wagered that measures to boost growth in China will lift demand. Copper is widely used in general manufacturing, electronics, electrical goods, automotive production and construction, and demand for the metal tends to rise as the economy expands.
Meanwhile, China's consumer price index rose 2% from a year earlier in August, up from July's 1.8% rise and in line with expectations.
The rise in inflation may constrain the government's ability to help the economy, said Edward Meir, senior commodity analyst with INTL FCStone, in a note to clients.
Copper traders are also looking ahead to Thursday, amid broad market anticipation that the Federal Reserve will announce a third bond purchasing program aimed at boost growth in the U.S. A spate of weaker U.S. economic data, including Friday's anemic employment report, have stoked expectations that the central bank will step in and act to support the economy.
"The easing argument will likely dominate sentiment over the short-term," said INTL FCStone's Mr. Meir.
Write to Tatyana Shumsky at tatyana.shumsky@dowjones.com
(END) Dow Jones Newswires
09-10-12 0943ET
Copyright (c) 2012 Dow Jones & Company, Inc.
http://futures.tradingcharts.com/news/futures/DJ_BASE_METALS__Copper_Climbs_on_Expectations_of_China_Stimulus_185258172.html
SIRG returns to penny land as accumulation continues and the float tightens.
No ripple for me tonight I am becoming a oenophile!
Great to see you back on the SIRG board with the rest of the SIRG longs and Arizona does have a nice climate! Johannesburg does appear to be a bit hot right now.
SIRG will pay off the notes the same way they will purchase the additional 10% of the mine - with funding, probably a term sheet that has a permit contingency attached.
Complicated but if you search through the records of other recently funded copper mining operations you will understand how this works.
Last Oct Rod had to take out a note to pay a Phoenix Co to do 8 test core drills on the tailing piles. They cores were shipped to ALS Minerals in Reno and the assay results gave SIRG a bankable assay report. (Done by independent 3rd parties.)
With 5M lbs of copper and 9M lbs of zinc there is enough recoverable ore in the tailing piles to support a loan of $12M to $15M. Instead of paying the loan back in cash, the funding company receives x number of lbs of copper every month.
SIRG back to penny land!
Need someone to hit the Ask and return SIRG to penny land. What a gap up from .0081 to .01 shows how thin shares are.