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druidmechanics in the name of full disclosure here is all of my activity in TAON since Nov. 1:
Acquired Date Closed Date Quantity Gain/Loss
11/19/2010 12/8/2010 200,000.00 $1,312.54
Multiple 12/8/2010 200,000.00 $710.64
11/23/2010 12/8/2010 12,000.00 $53.57
Multiple 12/8/2010 288,000.00 $1,442.28
11/26/2010 12/15/2010 33,280.00 $21.11
Multiple 12/15/2010 166,720.00 $100.65
Multiple 12/15/2010 200,000.00 $212.62
11/26/2010 12/15/2010 100,000.00 $107.83
Multiple 2/11/2011 396,300.00 $1,038.19
12/23/2010 2/3/2011 110,000.00 $254.82
12/23/2010 2/11/2011 500,000.00 $884.62
Multiple 2/11/2011 252,000.00 $632.77**
Multiple 2/11/2011 306,700.00 $578.40
Multiple 2/11/2011 45,000.00 $93.90
$7,449.95
($6.01)
2,810,000.00
I was making short-term investments hoping to time the release of the geologic survey that never came. Becuase TAON did not follow up with those results within the timeframe stated by the company I currently think that it is too risky to hold a long-term position with the company. I would go ahead and take my loss and use that to decrease taxes for 2011. It is possible (but risky) to make money on TAON, currently. However it requires getting in at the right price and getting out quick.
I am not an investment advisor and you should always make investment decisions based on your own due diligence, not based on what might be posted on IHUB. Assume that every poster on IHUB has their own agenda.
If I had to guess the long-term outcome for TAON it would go something like this -
1. There will be another pump before the 10-K.
2. The 10-K finally comes out at least 3-4 weeks late with the OS increased to at least 750,000,000 shares.
3. There will be at least two more pumps before the 10-Q which when it comes out late will show an OS of around 1.75B shares.
4. The price will drop below 0.0005 and the company will cease to exist later this fall (a second reverse split is probably out of the question)
5. If any of the resources are real they will be transferred to a "new" company and renamed. The new company will be run by the same mining "experts."
Of course it might be possible that the company is real and that someone will make a fortune holding its stock. At this point I would think that there is a greater likelihood that a pig will learn to fly.
Whatever you decide to do, I wish you the best of luck.
Bob
However, the 401K match is in the form of unprocessed ore.
Bob
And surprisingly productive!
GLTA
Bob
I agree with that. However, most of the multiple posters that jumped in the last two days were not longs. Hopefully, some of the followers that bought CGFIA have seen the long term value in holding the stock.
JMHO
GLTA
Bob
They do all those re-posts so that their "followers" can see the posts made by them and jump on the stock. It can be dangerous to follow a "pumper" because your entrance can coincide with the exit of the "pumper". That is one of the reasons they keep asking for ask slapping. They are already on the ask.
JMHO
GLTA
Bob
Currently, I will not invest in any stock that I am not currently invested in. If I had dry powder and wasn't set on my current positions I would not have a problem taking a flyer on TAON at .0028. However, I would do in in a way to minimize potential losses.
Bob
I'm not putting anything in. It was more in the line of a humorous suggestion if anyone else felt the need to jump in. It is actually a realistic range for the next P & D.
I made about $3500 back in February and I'm not about to press my luck.
Bob
It just looks like the next point to try for a bounce.
Bob
Don't get greedy. Flip @ .0042.
Bob
Time to put your buy order in .0028.
Bob
I saw a lot of shares bought at .0008 and sold for a one day 12.5% profit to latecomers. I don't invest in any stocks based on what anyone else says. I do my own due diligence and make decisions based completely on that. Because of that I never worry about why a stock didn't have a "huge" run on a given day. I am concerned about what that stock will do over months and years.
GLTA
Bob
Today has gone exactly how I expected.
The traders that made money today were the first in first out bunch.
What many first-time investors are missing is the long-term value of CGFIA. Here is a re-post from earlier this morning that got drowned out:
The long-term potential is far greater than the value of a one day ride. The PR from this morning is evidence. CGFIA, because of the mill, has an inside track on a number of mining properties in San Juan County that weren't previously profitable due to a lack of milling resources and significantly lower gold and silver prices.
That means that when the permit is granted CGFIA will have the ability and resources to pick and choose when it comes to local mining properties that it wants to acquire.
While a one day jump in stock price will be welcome, any increase that we might see pales when compared to the long-tern potential of the company!
GLTA
Bob
15B is the A/S not the O/S!!!
GLTA
Bob
CGFIA reports on its outstanding shares every quarter.
The other company doesn't and could have any number of outstanding shares.
There appears to be less evidence of dilution than there is of very short term flipping. IMO.
GLTA
Bob
Volume of 500M needed for a breakout today!
GLTA
Bob
The long-term potential is far greater than the value of a one day ride. The PR from this morning is evidence. CGFIA, because of the mill, has an inside track on a number of mining properties in San Juan County that weren't previously profitable due to a lack of milling resources and significantly lower gold and silver prices.
That means that when the permit is granted CGFIA will have the ability and resources to pick and choose when it comes to local mining properties that it wants to acquire.
While a one day jump in stock price will be welcome, any increase that we might see pales when compared to the long-tern potential of the company!
GLTA
Bob
Thanks Steve!
GLTA
Bob
The situation today looks almost tailor made for IBA to show their stuff!
GLTA
Bob
How about a scenic railroad trip?
The Durango to Silverton narrow gauge is supposed to be one of the most beautiful trips in the U.S.
http://www.durangotrain.com/packages/tour-packages/historic-silverton-mining-tour
GLTA
Bob
This is from the 10-K in November:
Page 15
Reclamation obligations on the Brooklyn, King Solomon, and our Mill could require significant additional
expenditures.
We are responsible for the reclamation obligations related to any exploratory and mining activities located on the Brooklyn
and King Solomon. Since we have only begun exploration activities, we cannot estimate these costs at this time. In November 2007,
the Colorado Division of Reclamation, Mining and Safety transferred the mill permit into our name, and we delivered to the Division
a reclamation bond in the amount of $318,154. We have currently estimated the total reclamation costs on the Mill at $612,550 and
have recorded a liability in this amount as of August 31, 2010. There is a risk that the Mill reclamation costs may exceed our current
estimate, and such excess could be significant. The satisfaction of current and future bonding requirements and reclamation
obligations will require a significant amount of capital. There is a risk that we will be unable to fund these additional bonding
requirements, and further that increases to our bonding requirements or excessive actual reclamation costs will negatively affect our
financial position and results of operation.
It looks like the letter concerns the original bond.
GLTA
Bob
That is exactly my thinking.
Traders that think they can call the bottom or the top are usually disappointed!
GLTA
Bob
Big picture -
I was able to almost double my shares today and lower my cost basis to about .10!
GLTA
Bob
Sign up for e-mail alerts at http://www.cologold.com
I received the PR in my e-mail this morning about 2 hours before it was released.
GLTA
Bob
NEWS!!
Colorado Goldfields Inc. Announces Exploration Plan for King Solomon Mine; Expansion into a $20 Million Gold and Silver Play
Gold Stocks
LAKEWOOD, CO -- Colorado Goldfields Inc. (OTCQB:CGFIA) (CGFIA.PK) announces its exploration and development plan for the King Solomon Mine. The King Solomon Mine is located on the southern flank of King Solomon Mountain, just a few hundred yards up the mountain from the first discovery of gold in the San Juan Mountains in Little Giant Basin.
"Using ore depth levels from nearby mines, and knowing that the structure of the King Solomon is "open at depth," and "on strike," allows us to estimate the total potential resource. By expanding our recovery into silver, the total resource is estimated to be as high as $20 million," stated Stephen C. Fearn, Registered Professional Engineer for Colorado Goldfields.
Historical assay results for the King Solomon Mine have revealed gold at 0.15 ounce per ton, but more importantly silver content as high as 42 ounces per ton. At $35.75 per ounce for silver, that represents about $1,500 in dollar value per ton. Combined with gold at $1,500 per ounce, total value per ton could be as high as $1,725 per ton.
Work during the exploration season of 2011 will be directed toward verifying the property position, surface and underground geological mapping and surface and underground sampling. As with the planned work at the Company's Brooklyn Mine, these activities represent minor surface and underground disturbances that are not expected to require a formal prospecting permit.
Two levels of the King Solomon Mine remain open from previous operations and are immediately accessible. Therefore, the patented claims comprising the King Solomon mine will be surveyed and the corners set; including portals, dumps, roads, vein outcrops and other geologic features will be located and mapped. Almost simultaneously, the two open underground levels of the King Solomon Mine will be surveyed and geologically mapped. By locating the underground features relative to surface features and claim locations, a three-dimensional computerized model will be developed.
Surface Sampling will be conducted on all identifiable outcrops, mine dumps and other mineralized expressions will be sampled to define metal values, and once again simultaneously the existing underground workings will be sampled to define metal values contained in the exposed vein areas. This data will be overlaid upon the three-dimensional model.
"Regardless of the recent short-term bouncing around, silver prices are so far above the original economic profitability models that it would be a mistake not to develop the resource. Silver is becoming more important to the Company, and there has always been an abundance of silver in our district," stated Stephen Guyer, CFO for Colorado Goldfields.
Gold stocks
About Colorado Goldfields Inc.
Colorado Goldfields Inc. (OTCQB:CGFIA) (http://www.cologold.com) is a Denver-based junior exploration and mining company primarily exploring for gold and silver. Our seasoned management team targets historic gold camps with strong potential for multiple deposit discoveries. Currently, our business model in Colorado provides an outstanding combination of former producing properties with excellent exploration and production potential and a currently inactive, modern, up to 700 ton per day capacity mill facility to allow for an attractive short-term production time frame. We expect that this strategic plan will allow Colorado Goldfields to reach its goal of profitability, potentially within the next 18 months.
The Company has made available a current CGFIA Fact Sheet in PDF format at http://www.cologold.com/uploads/CGFIFactSheet.pdf.
Notice regarding forward-looking statements
This news release may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements or information includes statements regarding the expectations and beliefs of management. Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to obtaining financing to meet the Company's exploration program and operating costs during its exploratory stage, the interpretation of exploration results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including the inability to obtain mining permits and environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees, and other risks and uncertainties, including those described under "Risk Factors" in the Company's Annual Report on Form 10-KSB filed on December 27, 2007, and as amended on March 3, 2008, which is on file with the Securities and Exchange Commission, as well as the Company's other SEC filings. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as is required under applicable securities laws.
Cautionary note to U.S. Investors -- The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (or press release), such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosures in our 10-KSB which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml. This press release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
Contact:
Investor Relations
Colorado Goldfields Inc.
866-579-9444 or 303-984-0524
http://www.cologold.com
CGFIA #1 on IHUB Breakout Boards!
GLTA
Bob
I decided to add more funds to my Scottrade account this morning. If the price of CPOW is still around its current level on Thursday, I will add more shares.
GLTA
Bob
That is a new requirement that went into effect today.
GLTA
Bob
Steve would their desire not to communicate about bad results be cultural.
GLTA
Bob
For what it is worth IMO the numbers mean that there is significant interest in CGFIA and that investors are trying to accumulate at what they think is the lowest price that will be available - $0.0007.
If their orders are not filled by the end of next week they are likely to get very nervous. There should be news from the company no later that the week of May 16th. This news concerns reclaiming the tailing ponds and subsequently an amendment application. News from the company could drive away any chance to buy shares at $0.0007.
This is all IMO.
GLTA
Bob
Check out the size column for L2.
Particularly ETMM.
GLTA
Bob
It looks like CPOW needs to PR the JV
GLTA
Bob
This week has been pathetic.
Yesterday was the worst. Investors could have bought AMCG at $0.015 a share all day and volume was all but nonexistent.
Until AMCG Management makes a commitment to regularly inform shareholders as to what the company is doing to meet business objectives this stock will continue to languish in penny stock purgatory. In the meantime we are watching the stock price decline until it ultimately reaches sub-penny status.
I wish that my outlook was better.
GLTA
Bob
CGFIA trading is as slow as the CGFIA IHUB board this morning.
GLTA
Bob
Level 2 is looking good this morning!
GLTA
Bob
Completely agreed!
Bob
The MMs may have been making sure that those .0008s kept looking like a wall!
GLTA
Bob
ROTFLMAO!!!
Bob
I would disagree, but only because of the extremely low volume.
Average volume for the last 10 days is 85K per day or 850K total. That would come to a total of $12,750 at the average price of .015 over the last 10 trading days.
GLTA
Bob
It looks like your order is in limbo!
GLTA
Bob
I work in software gaming for casinos.
Looking at the 12 month plan from the 10-Q (see sticky) I notice that AMCG has an aggressive software development plan. This could be leading to some unanticipated problems. Companies always seem to stress time to market as their top priority and AMCG seems typical. With software development this usually means that process shortcuts are taken that ultimately challenge the quality of the products. The re-engineering required by these quality issues actually cause a slower time to market than would have been the case if the shortcuts had not been taken.
If this is the case, AMCG may be too busy working on internal issues to be focused on shareholders. This could also explain the recent push for new hires.
I don't have any specific insight into AMCG and I don't know if this post has anything to do with the silence from the company.
GLTA
Bob