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The Piedmont Mine is one I have been meaning to go visit, and is clearly marked on the topographic map. The Berridge report says they "couldn't find it" which is surprising - very hard to erase all traces of a formerly operating mine. The workings may not be open, but there ought to be a dump, or tailings, or a trail or something.
Gee, I'm flattered! What do you think of the possibility of there being a rare earths deposit on BONZ's Tarantula claims?
Obviously it was speculation, and that's fine. But usually an estimate of daily gold production is based on something - number of yards processed per day, the grade (g/yd), etc. Have you seen any numbers that BONZ has released for the grade of the placer material? Half a gram per cubic yard is okay, but a gram/yard is better. I will have to go back through Berridge's report, but I don't recall any placer testing results.
What sort of grade and volume are you basing those numbers on? I thought they were still in a testing mode for the placer materials?
Yup, the same John Fife. A little more DD shows the following:
Reporting person John M. Fife is the sole shareholder of reporting person JFV Holdings, Inc., which is the sole shareholder of Inter-Mountain Capital I Corp., which is the sole shareholder of reporting person Utah Resources International, Inc., which is the sole shareholder of reporting person Tonaquint, Inc.
Please be more specific about what I was wrong about. A company bragging about finding rare earths should maybe find something that is more than normal background. It is laughable, and purely intended to generate hype with investors who don't take the time to actually look at the data (which is posted on their website).
Yes, mining takes time. Unless of course you have a mine in the Bradshaws (the Azurite) that can be explored, permitted, and brought into production in 3-4 months. Is the clock ticking on that timeframe yet?
When does the meeting in Prescott with WSRA happen? Or is it off the table now that all the excitement is over meeting(s) with IGMR?
I can't. Why would a major mining company waste their time with a penny mining stock claiming to have both rare earths and gold on the same property? Once again, they have issued a PR claiming to have discovered rare earths. Their credibility would improve if they would quit touting background levels of rare earths.
Are you are talking about my v. few posts on a certain copper mining board? I rarely even look at that board. But you are right, I post almost exclusively on boards for OTC companies that have holdings in Arizona, and have very dubious claims of "ore reserves". And you're right, I have very little good to say about them - particularly GDSM.
Both locations of all the mines have produced some of the largest amounts of Gold
No, not all opinions and assumptions.
It is a fact that the IGMR claims are sandwiched between two Wilderness Areas and are in California.
It is a fact that owning a BLM claim does not equate to having a mine.
It is a fact that GDSM filed to allow the creation of up to 1.5 billion new shares (and has not disclosed this to investors).
It is a fact that the sample results at the Gold Crown have not been released, and was only half completed.
It is a fact that almost nothing that was laid out in GDSM's marketing presentation earlier this year has happened (mining gold, 43-101, uplisting, etc.)
I don't know anything about how to short a stock, but from what I have been told, it is next to impossible in the penny markets to do so. I agree that GDSM stock should go up this week, given the level of excitement and hype. Of course, there is no telling who is selling shares into the market that seem to be keeping a lid on things. Just my opinion.
Good luck with the wedding and student loans. But in regards to your summary......
-More Assets: Who says IGMR has any assets other than 960 acres of worthless BLM claims?
-960 acres for mining: These claims are sandwiched between two Wilderness Areas and are in California, the most unfriendly state for mining. No mining is in the future of this area.
-40+ load claims: If you mean lode claims, there are 48 lode claims to be exact. And a claim does not mean it is a mine. See above comment.
-More seasoned management: seasoned in what, how to run a penny stock scam? did they find someone who has run an exploration program?
-More experienced engineers: What are you talking about? Neither company has anybody remotely resembling an engineer or geologist.
-Existing JVs: Still uncertain whether WSRA seriously considers GDSM to be a partner or not. Certainly not one that can be counted on for funding simple sampling programs (e.g. bucket sampling at the Gold Crown).
-No change in share structure: Except for the filing in August which allows for up to 1.5 billion new shares through conversion of Preferred Stock
-No toxic financing of projects: Again, GDSM has shown an inability to finance even the simplest of sample programs.
-Transparency: Clear as mud
-Uplisting: Are you kidding?
Yeah, it is something near and dear to my heart too. The example 1manband posted, and the one I posted are not the only ones. There was one at the Sterling Museum in New Jersey within the last year, and a dozen beautiful crystallized gold specimens were stolen. Museums are apparently easy targets.
I actually visited the museum in Yreka years ago while in the area and I remember thinking that security didn't seem all that great.
Another gold heist from a museum in California occurred back in February. They got a 22-ounce nugget among others. Check this out.....
http://gemandjewelrydoctor.com/2012/02/03/california-courthouse-robbed-of-historical-gold-rush-treasures/
I wonder if it was the same guys?
Federal Wilderness Areas, two of them, will prevent mining on IGMR's BLM claims. One is adjoining (South Nopah) to the north, and the other (Kingston) is a mile away to the south. These are facts, look at a map.
Now for the opinions - I'll bet IGMR picked them up on the cheap! As mineral exploration claims, they have no real value because a real exploration company would not waste a minute with them. For a mining promotor like IGMR, whether mining can take place there or not doesn't matter.
When is Hondo's 10Q coming out for the period ending in July? Seems they are a bit behind in filing. Maybe a tough report to put together.
900 Acres of claims? That's a lot of gold potential!
The stock price doesn't concern me. And I do stick to the facts. For instance, Bonanza is claiming to have found rare earths, when in fact, the rare earths that they "found" are at or even below background levels for average rock (according to published background levels for REE). That's one of the reasons I am here.
That, and the management-level links to another, even more dubious company that is currently promoting worthless claims in the Mohave.
Visadoc - if you've been mining in the Congress area, you'd know that most of those placer operations out there are weekend warriors, very small scale, and awful damn hard to consistently make a buck. You'd also know that not every quartz vein running across the hillside has any gold. Fun stuff, but you'd better have a day job to pay for your beans and beer.
Running a junior mining company is not anything like being a "C" executive at the Mint. And calling BONZ a junior mining company is being generous, considering they have not mined anything. Their exploration program is in a preliminary stage, and they are nowhere near having anything to mine.
bulk samples showing gold with high purity, the many veins on the claims should speak louder then words, year round mining, mining friendly state,
Why didn't they mention WSRA by name in that PR? Seems really odd. Guess we'll just have to wait and see if WSRA is ever mentioned by name in future PRs.
Yes, I saw that statement in the GDSM PR. Don't you think it a little odd that they did not mention WSRA by name?
As for not ever being happy about any JV or deal that GDSM might come up with, no I wouldn't be. They are professionals alright, but not professional miners. And so far, none of their JV partners (or possible JV/merger partners) appear to be either.
Not sure I follow you.
Interesting report! Especially the fact that it was written by someone who was on the BONZ board of directors (at the time) and is also a stockholder. Seems they would have been wiser to have a third-party do the report.
Also, the RG stamp (Wyoming) is "interesting".
Have you been there? I can see from an aerial that there is already a road into the old mill area. I think a few days with a cat would open it up to at least 4WD traffic. Regardless, the road is not what they should be worrying about. If they really plan to mine up there, they should be sampling the crap out of it to know what they have. Even the Jenkins report, as bad as it was, recommended an exploration program including drilling.
They also need to figure out how they will manage to mine and process without attracting the attention of ADEQ. Oh, and maybe put down a retainer on a good environmental attorney because they will need one. Those guys are typically $250 to $400/hr. That'll eat up your $50K real quick!
If $50K is peanuts, how come WSRA was unable to finish a very simple sampling program at the Gold Crown? $50K at the Gold Crown could have accomplished a lot. What's your take on that?
We're not talking about a 6 lane superhighway, bro - they just need to get a cat in there and straighten up some roads. At this point in their "mine development", they need to spend the money on sampling and permitting, and roadwork is the least of their worries. And yes, permitting is needed by WSRA even though this is private land.
By the way, why are we even talking about WSRA's development plans for the Azurite Mine on the GDSM board?
Not sure what the Arizona BLM has to do with "mines" owned by GDSM. The lease land at the Gold Crown was from the State of Arizona, not the BLM, and they issued a permit for exploration only. It was for a very simple testing program which GDSM and their former JV partner, WSRA, could not even complete.
As for the Gold Star, which is BLM land, I don't believe there is a current exploration permit or a mining permit issued for that land. Could be wrong on that, but getting much credible information from GDSM's website and their PR's is next to impossible. Last I heard, the Gold Star is still for sale by Gold Tech.
The Azurite Mine? It is private land, so no BLM involvement and from what I can gather WSRA is going to try and develop that mine without GDSM's involvement.
So, what "mine" on BLM land are you talking about?
Give me a break - it shouldn't take $50K to improve the roads in the Azurite Mine. You of all people know that money isn't going to be used for roads.
You're absolutely right, logic doesn't apply to GDSM or any of the other pinkie stocks. I realize that, and I like your analogy of pinkies being like the "quantum physics of the investing world".
But it is not without victims, and if you don't mind being part of that, go for it. Too bad all the money flying around isn't spent on something more useful (like real mineral exploration).
Sure, why not? I don't usually comment on stock price but if the current run can sustain itself without someone holding converting shares getting greedy, you might do well next week if you know when to get out.
I doubt you care, but it's still a scam. And you are still profiting off the backs of new investors who don't know any better.
Pretty neat statistics - puts things in perspective. What they didn't figure in there are the dozen multi-billion dollar deposits owned by one company in Prescott (Gold Tech). I kid of course......
Which mines are you referring to? The JV with WSRA appears to be over, so you can forget about the Azurite and Gold Star (not that they were anywhere close to mining on either of those dogs). For those that seem confused about fact versus opinion, this is my opinion.
So you must be talking about the "mines" that IGMR has? Guess again. IGMR has only a small portion of the original claim block in the Shoshone District that is discussed in the technical reports on their website. What they own are unpatented BLM claims. They do not own the patented claims which were the locations of the formerly producing mines. So, no mines, sorry but this is a fact.
Also, if you look at the locations of the BLM claims that IGMR has, they are literally up against the edge of the South Nopah Range Wilderness Area on one side. On the other side of the claims, you have the Kingston Range Wilderness Area. These are facts.
Do you think there is a chance in hell that any mining will ever be allowed in this little corridor between Wilderness Areas? No, but again, this is my opinion.
I suspect that IGMR picked up the entire claim block very cheaply and it obvious why! It is un-minable land. They are just a Florida-based scammer outfit about to merge forces with another Florida-based scammer. IGMR recently upped the number of shares in their corporate structure to 500 million - I wonder if that means they are preparing to go public?
They also said somewhere (a PR?, I can't remember) that the previous operator was incompetent and had no idea how to recover gold. Doesn't bode well for using the previous operator's personnel and equipment.
I wonder if the previous operator had a permit to mine, or if they were mining without the required permit? Or if there was a permit, is it transferable? A call to the BLM might be in order.
You betcha this smells!
IGSM is a Florida-based private company with no experience in exploration or mining. Despite what their website says about "owning 960 acres", all they have are a bunch of BLM lode claims sandwiched between not one but two Wilderness Areas! And in California, no less, a State notoriously difficult to get permits to mine. They're seeking to merge with or seek funding from Florida-based GDSM, an obvious scam outfit?? GDSM has proven they cannot fund even the simplest of sampling programs! How could they possibly fund a serious hard-rock exploration effort?
Even with all the hype and excitement, the stock price has not pushed much past $0.0040. It appears that someone has a bunch of shares they are dumping which has kept a lid on things, and probably a lot more coming.
And if anyone really believes that WSRA is still in a JV with GDSM, they are fooling themselves.
It is a fact that GDSM filed paperwork with the State of Florida in August to allow conversion of 100 million of shares of Preferred Stock to common shares at a one to fifteen conversion factor! That means up to 1.5 billion new shares will be hitting the market at some point. How's that for a fact!? But of course, you were well aware of that fact, weren't you!?
It is also fact that GDSM's and WSRA's last few PRs did not mention the JV with each other. That is a fact. Although it is not proof that the JV is over, it strongly suggests that they are going their separate ways. Yes, I know that GDSM's last PR stated that the existing JV and investments were active, but it was worded rather strangely - still no mention of WSRA by name.
Want more facts? No sampling results for the bucket sampling program have ever been released by either GDSM or WSRA. I am guessing the results were embarrassingly bad.
How about this fact - the author of the Azurite report (Jenkins) is now facing an investigation by the AZBOTR. GDSM posted this report by a phony mining engineer for what, 10 weeks, before suddenly yanking it off their website. Some lame statement about waiting for an update? Still waiting.........
Yeah, why would anybody care about silly things like assays when there is a "run" under way?!!
Or whether GDSM still has any current JV partner with mining properties? No, it appears that their JV with WSRA and the Azurite and Gold Star are history.
Or even if the JV with WSRA could be salvaged, whether GDSM is capable of properly funding a JV? No, they couldn't even fully fund a simple bucket sampling program. They apparently had other uses for the money than exploring for gold.
Or if it was possible to bring a mining property into production anytime soon? No, mining at the Azurite was many years away, and even mining at the Gold Star was probably at least a year or two away.
No, this is not about mining or assays. This is all about bringing in new investment money, and creating a new crop of bagholders.
Have fun with the "run" but good luck predicting when to get out. There are people with a lot of shares, and will know when to dump. When they do, they will dump bigtime. The majority of new investors will be stuck just like last time.
Thats fine, but my point is why are they even talking to anybody about an extraction process, when they have no ore to extract?