acmefirewoodis...(put something here)
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Apparently one of the major shareholders decided to dump a million shares today. There's a lot of shares that were bought below a penny that would yield a nice profit at the current price.
Then again it is Friday which is usually an interesting day for penny stocks.
Next week should be very interesting also as the company should have equipment either at the site or on the way there.
Good luck to all the "BONZ" faithful both old and new.
Have a great weekend!!!
Didn't help me fill my buy order for 500,000 at .023.
Nice call ML.
Next week will be another adventure.
Good luck to all the "BONZ" faithful both old and new.
.12-.15 within 81 days. :)
I doubt if this will go below .03 again.
News that the equipment is on-site should be out next week.
Gold should hit $2,200 within three months.
Good luck to all the "BONZ" faithful both old and new.
p.s. I see there's still a buy order on level two for 1,000,000 shares at .025. Maybe one of the "big boys" may need some walking around money.
It better happen soon because I expect they'll be a p.r. within a few days stating that production equipment is on-site or will be in a few days.
.12-.15 within 82 days. :)
Good luck to all the "BONZ" faithful both old and new.
p.s. I see there's a buy order on level 2 for a million shares at .025.
.12-.15 within 82 days. :)
I doubt if this will go below .03 again.
News that the equipment is on-site should be out soon.
Good luck to all the "BONZ" faithful both old and new.
p.s. I see there's a buy order on level two for 1,000,000 shares at .025.
A lot of things are happening.
.12-.15 within 83 days.
Good luck to all the "BONZ" faithful both old and new.
p.s. No he wouldn't. :)
It should be obvious that future events will dictate what the investors do or don't do.
.12-.15 within 90 days is still where I think this will be.
Time will reveal all.
Good luck to all the "BONZ" faithful both old and new.
p.s. I noticed there's a buy order on level 2 for 1,000,000 shares at .025.
The bottomline is that they don't convert at .075 unless they believe that they can get substantially more than that (factoring in the dilution)in the market or from a buyout.
I hope they have the opportunity to convert every dollar of debt at .075.
The equipment should be on-site next week.
Good luck to all the "BONZ" faithful both old and new.
Debt conversion by the investors would put the market cap in the $35,000,000 range.
Good luck to all the "BONZ" faithful both old and new.
As stated:
"The Investor has also received a warrant to purchase shares of common stock of the Company equal to $1,660,000 divided by the Market Price (defined in the Company Note, as of October 1, 2012) at an exercise price of US$0.075 per share at any time within five years after October 1, 2012. The warrant also contains a net exercise provision."
Divide $1,660,000 by .0229 and that is the number of shares that they can buy at .075.
Am I missing something?
Blocking action at .04. Someone wants to accumulate shares under .04.
Next news which will probably be related to the equipment moving on site will move it above .04 which then becomes the support level and everyone selling below .04 will have passed up profits.
Hopefully they'll move it below .03 as you suggest. I would imagine there's a number of individuals hoping to buy in that price range.
Good luck to all the "BONZ" faithful both old and new.
.12-.15 within 90 days.
I doubt if this will ever go anywhere near .02 again.
Good luck to all the "BONZ" faithful both old and new.
p.s. I see there's a buy order on level two for 500,000 shares at .025.
Bonanza Goldfields is a gold exploration company. As such I look at the start of gold production at Tarantula to be similar to an oil exploration company drilling a test well on land where they think there is oil.
I expect that the company will be eventually bought out by a major gold producer such as "FCX".
Buyout at .30 or higher isn't out of the question "if" the initial results are positive.
The public has the opportunity to "place a bet" on the company's success at a price that is currently four cents a share. The investors placed a $1,500,000 "bet" at about .0625/share.
I expect equipment to be on site within ten days and gold production to start soon afterwards.
It's going to be an interesting ninety days ahead for the company and its shareholders.
Good luck to all the "BONZ" shareholders both old and new.
Who would be better suited to advise the company on how to set-up and start gold production in Arizona than Dr. Singh?
http://finance.yahoo.com/news/Dr-Madan-M-Singh-Joins-iw-2400038701.html
From the article:
"Prior to joining the Department of Mines and Mineral Resources, Singh had over 30 years experience operating a consulting engineering firm. He was on the mining faculty of Penn State, and was a pioneer in the field of mine subsidence engineering in the United Sates developing a new graduate level program devoted solely to subsidence. Singh has performed several projects for the US Bureau of Mines, Office of Surface Reclamation and Enforcement, US Nuclear Regulatory Commission, and the US Department of Energy. He has worked on various aspects of mine operations and planning, ventilation, safety, and transfer of NASA technology."
"Singh has authored 129 technical papers in addition to serving as chapter author on mine subsidence in the SME Mining Engineering Handbook and Mining Environmental Handbook. Singh has been involved with a variety of professional organizations, including National Director of the American Consulting Engineers Council, President of the Consulting Engineers Council of Illinois, member of the Board of Directors of the Society for Mining, Metallurgy, and Exploration, Inc. (SME), Chair of the SME Coal Division, and Chair of the American Society for Testing and Materials subcommittee on rock strength."
Good luck to all the "BONZ" faithful both old and new.
Anyone selling for less than the conversion price of .075 will regret it.
As Bogart said in Casablanca, "Maybe not today or tomorrow but soon and for the rest of your life."
The new C.E.O. has a plan and it's on track.
Good luck to all the "BONZ" faithful both old and new.
If they're converting shares at .075 that's fine with me because that indicates that they are expecting to sell them at a higher price than .075 even with the dilution factored in.
Which means anyone buying at your target price of say .025 would have a 200% profit at a minimum. That is why I doubt seriously that this is going lower from here.
Good luck to all the "BONZ" shareholders both old and new.
Ignoring the obvious can be very costly.
p.s. Expect a few buy orders to be sitting on Level 2 at the open on Monday. :)
Do you really think anyone is so stupid that they would sell at that level knowing that a press release is expected at any time stating that equipment has arrived at the Tarantula site and giving a date for the start of actual gold production?
Also knowing that investors invested $1,500,000 for the right to purchase shares for three times that price.
I guess there are some graduates of the "Forrest Gump School of Investing" out there. Their motto is "Stupid Is As Stupid Does".
Good luck to all the "BONZ" faithful both old and new.
p.s. Sign me up for 2,000,000 shares below .025. :)
I expect it will occur and I expect the investors have a high level of confidence that they can get a price for those shares at a significantly higher price than the conversion price.
"Whisper on the street" is that they think they can eventually get .25-.35 for those shares.
They may have better information than anyone here about the gold production plan and the results from the Canadian lab as well as other peripheral information.
They put up $1,500,000 so I'm going to have to go with their beliefs rather than yours.
Good luck to all the "BONZ" faithful both old and new.
I hope the investors have good reason to converts all the debt to shares because if and when that happens it's because the share price is going significantly higher than the conversion price.
.12-.15 within three months sounds reasonable. It's probably conservative.
Equipment arrives on site within ten days. :)
Good luck to all the "BONZ" faithful both old and new.
New investors put $1,500,000 at risk in order to be able to purchase shares at an average price in the .063 range.
Seems like a strong vote of confidence for the new C.E.O.'s business plan.
Production equipment should be on site within 10 days.
Good luck to all the "BONZ" faithful both old and new.
If you have to ask the question then you probably shouldn't be trading or owning penny stocks.
If you don't understand the myriad of factors that influence a penny stock's evaluation I don't think you will find anyone here willing to invest the time to educate you.
I expect this to hit the .12-.15 range within three months. It's quite possible that it could go substantially higher after that period of time as gold climbs towards the $2,500 range next year.
If I knew for certain how penny stocks will perform over time I wouldn't be here posting on this board.
Good luck to all the "BONZ" faithful both old and new.
Yes I do.
As I previously stated I think the share price will be substantial closer to .10 than it will be to .02 which is where you indicated it was headed.
I don't know if it's relevant but I do have a buy order in for 500,000 at .025 just in case you need to sell a few shares today.
This should be at .06-.07 within a few weeks.
Good luck to all the "BONZ" faithful both old and new.
LOL!!!
.12-.15 within 90 days.
Make a plan. Work a plan.
Good luck to all the "BONZ" faithful both old and new.
.12-.15 at the time the first revenues from gold are announced seems reasonable.
Expecting firm support in the .06-.07 range soon.
Penny stocks have a way of catching fire as more news is out.
Expecting production equipment to be on site within a matter of weeks. Management has had months to find the equipment.
Good luck to all the "BONZ" faithful both old and new.
Considering the conversion price of the debt that the investors were willing to accept I would state that anyone selling below the conversion price at this point in time shouldn't be in the market.
That's my opinion.
Good luck to all the "BONZ" faithful both old and new.
Investors willing to accept conversion at .05 and warrants at .075 must have a strong belief that the company will be successful. They have better information than anyone posting on the board.
Establishes a support base in the .06 range.
I expect equipment will be on-site in a matter of days.
Hold on to your shares here. This will be in the .12-.15 range in less than 90 days.
Good luck to all the "BONZ" faithful both old and new.
I find it very difficult to believe that someone with the new C.E.O.'s credentials would accept a position with a start-up company such as Bonanza Goldfields if there was any indication that the company was not 100% legitimate.
http://seekingalpha.com/author/michael-stojsavljevich
Good luck to all the "BONZ" faithful.
Hold on to your shares. They'll be worth many times the current price sooner than you think.
Bank of America thinks gold could peak at $5,000/ounce.
http://www.cnbc.com/id/49119240/Gold_Prices_Could_Peak_at_5_000_Bank_of_America
The cost to extract the gold is relatively fixed therefore there is substantial leverage obtained in investing in gold companies while gold is cheap.
Good luck to all the "BONZ" faithful both old and new.
Anyone selling here will regret it in a few days as more news is released.
The new C.E.O. has a plan and it is being implemented.
Ignore individuals on the board that are trying to talk others into selling. They have an agenda.
The word is just starting to get out to the market about the substantial upside that the stock offers to new investors at the current price.
Good luck to all the "BONZ" faithful both old and new.
.12-.15 at the time the first revenues from gold are announced seems reasonable.
Penny stocks have a way of catching fire as more news is out.
Expecting production equipment to be on site within a matter of weeks. Management has had months to find the equipment.
Good luck to all the "BONZ" faithful both old and new.
Buying at the bottom can be a difficult thing to do especially with penny stocks. Most individuals will miss doing so. Others will come close.
I suspect this is very near the bottom here. The right news gaps it higher and it trends up from there.
If you're on the sidelines waiting for a substantial move lower I think you'll probably miss buying near the bottom.
I'm still expecting the share price to be in the .15 range by the end of the year.
Good luck to all the "BONZ" faithful both old and new.
I'd be willing to bet that in 3 months the share price is closer to .10 than to .02.
I don't expect you to take that bet. I know I wouldn't.
Personally I think you'd be better off buying here and be on the right side of where this is headed. I hate to see anyone miss out on making money in the market.
The plan is in progress.
Good luck to all the "BONZ" faithful both old and new.
Yes. It wouldn't be the first time.
Everyone has an agenda. :)
I just happen to believe that the company will be successful and that anyone selling here will regret it as the sequence of events unfold.
Good luck to all the "BONZ" faithful both old and new.
When the company announces that the production equipment has arrived on site in a few weeks and the share price is in the .07 range will you still be trying to scare others into selling?
Good luck to all the "BONZ" faithful both old and new.
I don't expect it to go much below .04 although I'm watching and hoping that I can pick up a few cheap shares if someone doesn't see the big picture here and decides to sell.
Bear raids can happen at any time. Even with penny stocks.
Good luck to all the "BONZ" faithful both old and new.
Meet Bonanza Goldfields' C.E.O.
http://seekingalpha.com/author/michael-stojsavljevich
I thought some of the new posters might like to know more about the man behind the company's future success.
Good luck to all the "BONZ" faithful both old and new.
Add a few shares on the dips. This is just at the start of a major trend higher.
It's quite possible that this will never see below .04 again.
It is often said that he who dwells in the failures of the past will not benefit from the successes of the future.
There's a new management team in place with a new business plan to make the company a success.
.12-.15 by the end of the year is realistic and probably on the low side.
Good luck to all the "BONZ" faithful both old and new.
Company announces first gold revenues on Christmas eve?
Wouldn't that make for a very Merry Christmas for the "BONZ" shareholders!!!
Good luck to all the "BONZ" faithful both old and new.
I think a $1.00 is not realistic within six months. I do think .25-.35 is quite realistic.
I look at the start of gold production at Tarantula as being analogous to oil wildcatters drilling a test well on what they think is a huge oil deposit. If they strike oil then that's when the big boys come in and buy them out. I expect that is what will happen here especially as the price of gold goes to the $2,200/ounce range by the end of the year and analysts predicting $3,000/ounce by 2015.
Buyout at $1.00 is quite realistic then.
Good luck to all the "BONZ" faithful both old and new.
Hold on to your cheap shares. Add a few more before gold production starts.
Expecting a stream of positive press releases until the first revenues from gold are reported in December.
.12-.15 range by then is likely.
Good luck to all the "BONZ" faithful both old and new.
Hold on to your cheap shares. You don't want to be chasing this higher as updates become available.