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good luck to your son. hopefully he will be home soon.he is a true hero.
Thanks goldman good find. the newsletter is amazing for its candor. From my initial review of the letter, and reading between the lines, it appears that the Bolivia oil and gas division was run by an attorney, an accountant, a general manager, and a consulting firm that were guilty of malfeasance. They were fired by the company in December and the company is looking to legal avenues to address the screwup.The oft delayed startup of pulacayo was caused by the failure of the Peruvian plant contractors inability to procure a perfomance bond. It seems the company will now contract out the tailings and the review by the mining company in approx 10 days hopefully will result in a contract for the placement of a flotation plant at the site.The gtl plant in bolivia, always a overly ambitious project appears just about dead and considering the cost and the political climate, that is probably ok. The Argentinian gtl plant seems to still be viable. My hope is that the Zurich investors will be on board if the feasibility study shows it is doable.By now many thinking posters here may realize that you can't run a mining business by merely sticking a shovel in the ground. Safety, efficiency and environmenal issues are paramount and banks and investors want to make sure they are not being bamboozled.This certainly was no fluff pr by the company.I continue to believe these are good guys who are trying theitr dardest to make this a profitable company. From the onset, the prize here has been Cerro Rico. It still is the hope for a major increase in value if they can get it done.Good luck to all.I rate this company as a hold now but if I see a up move on some volume it would indicate that financing is in place and I would be a buyer. This month may be very important turning point.
I see yony is only suspended until monday. I think we can survive without his insight till then.It is important that there is a semblance of civility on the board.
Stock looks totally washed out. I wish the discussion here was how to make money not gripe and complain about disappointment in company failing to achieve stated business targets and objectives.I thought these sites were about sharing insights and iMost of the nfo to make money. There should be a site for p''sing contests.
The statement taht the mining engineers will be touring properties suggests that they may also get involved in cerro rico mining. A mining company with experience may be a good fit and speed up the commencement of mining at both sites. We shall soon see.
Try the Z'Z'ZClub. It's s'pos'd to be the best in town.If our fe'rless leaders are there,please keep it quiet.The better quest'on is when does the bank open? Me? i'm trying to get over being apostrophobically challenged. Is there an apostropylizer in the house?
I am disappointed that there was no news today regarding the meeting for financing in Zurich. My gap open theory was predicated on an encouraging announcement on financial aid for commencement of the two main projects. The light volume seems to show that the company may be waiting for the holiday to end although I doubt the 4th of July is a big deal in Bolivia. Sure hope the stock exchange changes its rules to permit trading on july 7, a saturday, so the resident numerologists July 7 o7(777) theory bears fruit. It is time for the company to show its hand. For the gambler this may be a time to be all in. For the faint hearted, a fold here will allow you to play another day. The choice is yours. Thats one mans opinion.
As I previously stated, I hope and believe that Jaime and Bill returning to Zurich signals a major financing contract is in the works. The huge volume on Thurs. looks to me to be a part of the package as the lenders or investment bankers often seek cheap public shares as their pound of flesh. Hard to believe there was a seller of 20 million shares at .007 to accomodate the buyer. Duh. I believe these shares came out of treasury. If you were lucky and smart enough to pick up 2 million at that level you were not bagged. This week will make the picture clearer one way or another. I don't get level 2 but my guess is that glbt will disappear from the sell side and the asked will be harder to fill without an upmove.Ignore the wiseasses who probably have non position and will make the same assinine comments that have become a fixture on this board. You gotta be in it to win it. Money talks and you know what walks to add to the cliches. My feeling is that the stock is a strong buy now. A gap opening monday will not be a surprise although tempered by a holiday low volume week when many traders will be away and sleeping at the switch.
there is also a possibilty that yesterdays action was a selling climax.
Trueheart- Interesting dissertation on the art of battle as it compares to decisions to throw more troops(money) into the fray. The heart and soul of the troops are what often decides the winner.Having smart generals can't hurt either. Throw in a little luck and a clear cut objective and strategy and the battle can be won.
NYBOB- Thanks for the video. It puts into perspective the plight of the miners of Potosi and the opportunity for fmnj to do things the right way there taking into consideration the new technology and safety and security of the workers. The guide in the video hopefully represents the future.
FA- Do you really believe that the only reason comapnies go public is to raise the money they couln't raise private. As to the large volume today, I believe that the company was selling shares out of treasury to raise the necssary funds to start Pulacayo. Another possibility is that they were giving a gift of inexpensive shares to a investor possibly related to the major financing t5\hey are working on to commencre the projects.WQe will know soon. Note that the low was reached on a print of an insignificant amout of shares ton keep the small investor confused and at bay. Congrats nto those who took the plunge today. I think you will soon be rewarded
I believe and hope that Jaime and Bill would not have flown to zurich without having the undersanding that 3D capital would be instumental in generating interest among the banks such as Bank of Sctland to support the projects in bolivia and Argentina. The stock has drifted lower on very liught volume as the smart money awaits word that the company is properly capitalized inn my opinion.I think we can see an explosive move up if they can get the backing from the investment community.
hope they get us some good coin soon. money makes money.
major financing on the way in my opinion. the stock action this week may front run the news. rothschild not available since he is sitting shiva for his uncle.
being down 68.8% oh my. talk about counting your money while sitting at the table. My rough calculations suggest you are "even" at .0017.Maybe we can start a fund for you so that you can get out of here with a "push". You whining with nothing productive to say is tiring and bad karma.when I lose confidence in an investment or management I sell. The guy who tries to get even is the casinos dream player.I will remind you to sell when you recoup your losses. Of corse a double up here would make you even at .0135 but that would require a complicated investment strategy .
sniping by fellow posters is counter productive and does not abet decisions to buy, sell or hold. As for the Jaime compentcy remarks, I believe that it is his input and influence with major Bolivian players that created the promise of this company. My bullishness is based comibol signin agreement and giving the go sign for the buiness plan to commence cerro rico mining;2. i think the company may have or can get financial commitments to finance the infrastucture needed to start operations;3. I think that the oft delayed pulacayo project is close to starting now that the management glitches have been resolved.
ok.im making the call. a lot of factors tell me that this is the time to buy. This site is dead for one. even the bashers have thrown in the towel. the stock volume is very low. and most of all austins telephone is working.!!!!i expect a big move at any time with no news. insiders have to get their pound if flesh before we learn what is going on. this is only my feel based on 40 years of investing so don't get too angry. relax and see if i am right. give it 5 trading days max.glta iman
money means nothing and the drinks are free.
reading between the lines if the latest news, it appears that Dr. dAVILA, the nanager at pulacayo, nor Bill petty, were part of the management purge. It is also reasurring that cerro and pulacayo are still viable projects.Also a new guy mentioned as part of the team.Hopefully final go ahead on cerro rico will be announced soon along with a plan to commence production.
i cant stand the suspense
as tug mcgraw use to say, You gotta believe. If you feel that they are not really arranging the startup of pulacayo and cerro rico, you should take your money and move on. Too much time and effort went into this venture for me to believe it is all smoke and mirrors. I spoke to Jaime a year or so ago before austin came on. I believe he is an honest hardworking man who can make this venture come true. There is a lot of money to n] be made in Bolivia if one knows how to push the right buttons. This is like a baseball season. Its not a sprint, its a marathon. Hopefuly we will not suffer the same fate as the original marathoner.good luck and send my regards to chavez :}
based on yesterdays early action and then pause in volume, I think the consolidation is over. If so, there should be a nice move up on light volume as the smart money awaits news. As nybob points out, companies like apex seem to be doing quite well in bolivia now. I would like to see some frontrunning befpore news to build some momentum. Today would be a good day to start
very hard to make sense of the trading pattern. it does appear that there is some distribution being made by insiders to others so that new people can have a position. only a guess here but the volume on no real news is surprising.
Important sentence in release is that the debt is to be secured by private sales contracts.With oil prices at all time highs, cheaper supplies from a gas to liquid delivery should be very attractive to lenders. Once the company establishes lending credibility, it should help get the financing needed for the cerro rico startup. I believe that they have enough capital to start initial production at pulacayo. Looks like some big news is on the way altough some here will probably put a negative spin on the company's announcement of the business plan as it continues to unfold.
ditto
The negativity here is probably a good sign for those who still are conrarians. Those who are businessmen hererecognize that there will be glitches as one tries to build a new company.Final approval of cerro rico business plan is major stuff and seems to be likely given the parties who visited the site.The asinine comments from the naysayers are to be expected as amateurish gibberish not worthy of comment.Also speculation that the company is using glbt to sell shares is similarly a mere guess taht is probably off base. Amazing that people who have no position can express such negativity suggesting an agenda. The last piece of the puzzle is the cash flow promise of pulacayo and /or marketing of others minerals. I think the low volume is indicative a uncertain marketnot insider selling.
Final approval to launch Cerro Rico operations expected in three weeks is major news. I believe that the company should have or will be able to obtain major financing to start operations. Apex mining, SIL, has seen its stock soar as it continues to develop it bolivian mine.I am looking for some positive action in the price as investors become more confident of a startup. Maybe we will have a similar update on Pulacayo plant stratus soon. Keeping the faith in Jaime.
and don't forget poor a rod. got his rod caught in the cookie jar in toronto. think he is worrying about the tailings. no way. he has his own tail to worry about. The yankees ....lose.
I believe the weakness in the stock is attributable to the management problems cited in the last two news releases. I expect that more heads beside Dr. Murillo have or will be rolled soon. If the main insiders were selling into this news it would have been foolish to reveal this negative stuff. There is nothing wrong or dishonest about insider selling and the company actually filed a form 4 for Jaime as I believe I noted in January. This form specifies an intention to sell and was generated on the expectation of a positive move on good news. Moving foward the main thing is whether Jaime will now be more diligent in keeping his eye on the ball. Fridays meeting in POtosi may lead to a final resolution of the production plans to commence cerro rico. The oft delayed Pulacayo plant will of course be crucial to give the compnay the necessary cash flow as been pointed out numerous times here by Trueheart and others. The stock can rebound sharply once the actual construction of the plant begins. For those trying to catch a bottom, I think this is a good place to start. As with any investment and life in general, there are no guarantees. good luck and good health.
very airudite
Low volume seems to indicate selling pressure has abated and investors are taking a wait and see attitude. As many here have often stated, a status report on the Pulacayo plant(s)would assuage investors doubts.
Who did you speak with at IR. I understand that it takes a few weeks to complete construction of one plant. Did you ask him when the company expected to commence processing of the tailings. How reliable do you evaluate the info if it came from Steve, the guy americano refers to as the kid. Wasn't the kid gary carter, the old catcher from the mets.sure hope this info is true for that would be great news and lead to cash flow for the cerro rico project.
good idea about finding someone on the ground in Bolivia. The key is whether anything is going on at the pulacayo site. I had previously hoped nybob might be able to get that info. Maybe the big investors can advise what is happening on the tailings and cerro rico projects. I noticed a huge move firday in apex mining,SIL, which has a huge presence in Bolivia. Maybe we will get a sympathy move next week as the market gains confidence in the political stability for corporations doing business there.
An earthquake in potosi. I hope everyone is all right.Maybe it will open up the 4 veins fmnj is supposed to mine making recovery of gold and silver easier.Last May day was a climactic day for the company and this year's earthquake seems to be a piece of dramatic irony. Remember last year at this time when the price spiked to .15 and then the nationalization announcement came out. Stock plunged to around .02 and closed around a nickel.I am sure that action was predicted by FA's chart.:)My take on todays announcement is that it is a little obtuse as to whether the company has obtained financing for the plants or is finalizing the negotiation for money. Maybe we will get a clarification this week. Finally I note the action the last week does appear to indicate some serious accumulation. Let's hope the buyers are right.
May day your buddy hugo chavez is requiring all american oil companies such as exxon to turn over all their assets in Venzuela. You remember last years surprise and misinterpreattion of the negative efect it would have on fmnj.Markets and stock managers do not like uncertainty so I will be happy if there is no negaative surprise. Maybe a nice old fashion wall of worry is what the stock need to get rolling. I see you bought baCK in on tailings start up promise. If you look at all the releases, the company estimated that it would take 6 months to get the plants in situ. I also want to hear a status report now. Of course, that will give Tony and Trueheart something to complain about. :)
the cross of approximately 5 million shares on friday may relieve the pressure on the stock if the seller was cleaned up as often happens in a cross. I am a little cautious about this week since Tuesday is May 1 and we may have a political surprise that may roil the market for companies in Bolivia. As our friend sortagreen well knows, May 1 is an importnt date for the commies er leftists. kind of like their independece day.I am looking foward to some update on financing tailings and cerro and the status of the commencement for production.
it appears that half of the 11 million shares that traded yesterday came in a few big trades. looks like someone is crossing stock.
Insider selling does not dilute the stock but it does add to the float.
I believe it was my post in December referring to jaimes filing of an intention to sell up to 20 million shares which caused americano to bail as he feels that insiders sell when they believe the stock is going to go down because of some future bad news the market doesn't know about. If a person used that criterion for stock ownership, there would be no stocks he can own since all insiders sell stock from time to time for reasons only they know. Since he is on the pinks, it was not necessary for him top] make this public until the 10q was filed but he is following reqirements as if company was on nasdaq. MY theory is that he expected the stock to make a big move based on future positive events so he could sell on strenght in a rising market.All smart investors would be wise to take some money off the table on a big percentage gain move in my opinion.Sell some and pray that you are wrong is my philosophy since you still have a good position. You then can buy back if it retreats or diversify as you wish.It works out pretty well and avoids the frustration of seeing big paper gains disappear.