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After watching NSRS go from from a few cents to $1.71 I'll be the first to admit that predicting where and why the price moves from here is just that: a prediction.
I do believe that there are substantially more realistic scenarios that move Bonanza Goldfields' substantially higher than back below .02.
Good luck to all the "BONZ" faithful.
Interesting weeks ahead.
Accumulation is continuing today. Appears someone is cleaning out the weak hands here. Just my opinion.
Or we may see .15 by Friday. One can never be certain about what news might be released at any time.
Considering the "big picture" view of the company with it being in one of the hottest market segments, the new management team, the company's current low valuation relative to other penny stocks with less potential, and realistic positive events that could occur at any time, I would have to think that in a few weeks/months you could be posting "I hope we NEVER see the price below .10 again."
The shareholders are due for an update from the new C.E.O. in the near term. The test results from the Canadian lab in regards to rare earth metals should be available soon. Obviously we all want more information about financing and the start of gold production.
I think that anyone buying here will be rewarded and that anyone who is waiting until February to buy won't have quite as much to celebrate on New Year's Day.
Good luck to all the "BONZ" faithful.
A lot of individuals sold Apple at $19.00 because they thought it was too pricey or shorted Google at $80.00.
I saw a post on one of the Yahoo boards that was titled, "Gold Can Turn Pennies Into Dollars". I clicked on the message and found that it was about Bonanza Goldfields. Wishful thinking?
Many of us invest in penny stocks believing that they will "turn our pennies into dollars". I think the next two to three months will determine if Bonanza Goldfields can do just that.
It's quite obvious that Bonanza Goldfields is currently under accumulation for whatever reason. It's quite possible that the test results from the Canadian lab are complete and that they were very positive (news leaking?). Also gold is a major focus on a worldwide basis with QE3 announced and the U.S. having to raise the debt ceiling later this year and the world economies in turmoil.
Legitimate analysts are predicting gold to go to $3,000-$5,000 within three years.
Bank of America predicted that gold could peak at $5,000 an ounce.
http://www.cnbc.com/id/49119240
Looking at the landscape of penny stocks it's obvious to me that the share price should be in the .07-.08 currently with the potential to move substantially higher as the new management secures financing and gold production begins.
Anyone who is on the sidelines waiting to buy in February will be sadly disappointed.
You really don't think that an announcement that the company secured $10,000,000 in financing won't move the share price higher?
News of financing will be the next thing to move the share price higher. Gold production at a reasonable level can't occur without significant financing. If Mr. Foo is successful in obtaining the $10,000,000 from Chinese investors the share price will move to the .12-.15 range pre-production. Without financing to start and maintain production for at least six months this is not going higher. IMHO.
Personally I think it's a major mistake for anyone to be selling at the current price.
My opinion hasn't changed. I've always said that without financing and gold production the share price wouldn't move. It seems that for whatever reasons none of the investments from outside parties that were going to occur within a few weeks or a few months have materialized. Supposebly these delays were due to the 10K being delayed. Now that it is out of the way it will be interesting to see what happens in the next 6-8 weeks. Will Mr. Foo earn his 4,000,000 shares? My cost basis is under a penny but I couldn't exit at the current volume with out taking the share price substantially lower and taking a loss.
10K is irrelevant other than to bring the company into compliance. The success of the company still hinges on securing financing to begin production. Let's hope that there is substance to the claims by management that financing is in the works. It really is that simple.
I think .008 is a great entry point for anyone wanting to take the risk or to anyone wanting to average down. I wouldn't sell at that price.
Until the company secures financing and begins production the price of gold is substantially detached from the current share price.
It's still interesting that with all the rumors and vague references to a number of investors that are supposebly going to come on board with "guns blazing" that there has been no upward movement in the share price. Does anyone know what has happened to Mr. Foo's efforts?
I'm not selling, yet. I'll give it another month or two to see what develops.
It's time to see if any of the investment groups step-up to the plate with major financing so that production can begin. Until that happens the share price will drift in the one cent range. It's time for Mr. Foo to earn his 4,000,000 shares.
Why not narrow it to a year such as 2012. You may be correct then.
Should have the 10K filed by February unless management is just blowing smoke again. We'll know soon enough.
Price of gold continues to plummet.Much more difficult to obtain financing when the price of gold is at $1,400/ounce versus $1,900/ounce. Management incompetency in getting the 10K filed in a timely manner is a joke. Next week obviously means next month or next quarter or next year.
10K filing in February? Anyone hearing anything different?
Evidently someone wanted to cut their losses before bad news surfaces. How bad can the 10K be?
It now appears that the 10K will be filed sometime in 2012. Unless it's delayed to obtain more information.
10K before the end of the week certainly would help some of the shareholders decide whether or not to try to sell for a profit or loss in 2011 or to add to their position before the new year begins.
It's difficult to know where to place the incompetency here.
Heard that fifteen or twenty times. Hope you have a very Merry Christmas.
"I want to wish everyone a very Merry Christmas. I hope that everyone has the opportunity to spend time with family and friends."
Black gold?
If "Santa Foo" delivers. 10K filing and financing will move this. Until then add a few shares under a penny.
Received my printed copy of the Tarantula Geological Report from the company. Nice presentation. I'd rather they'd spent the money to get the 10K finalized and secure the $10,000,000 financing package. Anyone else here receive it?
Delay in filing the 10K is ridiculous. Makes current management to appear to be as incompetent as the previous management. What's the latest excuse? Anyone?
Any news on the 10K? Still thinking we'll get it on April 1, 2012?
No one was hitting my bid of .008.
Didn't have much cash available yesterday but I do now. GLTY
Mass selloff? LOL!!! Probably one shareholder (possibly a D.J. vendor) wanting to "cash out" a few shares and then a few daytraders got involved to try to "jack" some shares from weak hands. I managed to pick up a few cheap shares and actually have freed up some cash for the next round of "mass selling" or in my case, "mass buying". Bring it on!!!
Buy all the "BONZ" you can afford below a penny. The risk/reward is in your favor. IMHO.
Finalizing the $10,000,000 financing takes this to the .15 range. Could happen in a few weeks. Albeit a double is a nice fall back position.
Missed the low. Got some in the .0074-.008 range.
Cramer predicts gold over $2,000/ounce. http://seekingalpha.com/article/315028-cramer-predicts-gold-over-2-000-7-stocks-to-buy-before-the-surge?source=yahoo
It's my understanding that D.J. paid a number of vendors using shares rather than cash. It's quite likely that those vendors need to close out their books for the year and are selling the shares to cash out now. Also D.J. may be dumping his shares here. In any event the shares are undervalued. IMHO.
I spoke with Dr. Madan M. Singh yesterday. He's very positive and optimistic about the potential that Bonanza Goldfields offers. He does realize that it will take the company some time to reach it's full potential but he is very impressed with the management team that is now in place. He told me to contact him at any time to discuss any upcoming events that might occur. A true gentleman.
Cheap shares are always welcome.
The report is almost a year old. What is the reason you posted it? How many shares are you trying to buy?
Any thought on who's selling here? Could the 10K be that bad? Have some cash to buy more if it goes below .005. Your thoughts?