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D Day tomorrow for WSRA and GDSM, will be interesting to see what happens!
If they do make the payment, will they use toxic financing like they used when financing the last $50,000 payment as some have claimed?
Many will be watching! Er,... should say "some" will be watching... most don't care anymore.:( They have already lost their investment and moved on to greener pastures.
Tomorrow is D Day.... Will GDSM make their required $100,000 payment to WSRA for their JV?
Stay tuned!
Actually, the "executives" at the other penny miners are making up lies, half-truths, and innuendos about SIRG BECAUSE SIRG IS MAKING AMAZING PROGRESS.
The majority of penny miners NEVER make it as far as SIRG has and they will still be chasing SIRG as it goes into production.
Their smear campaign won't work, watch and learn.
No, the best rumor is that "executives" from other penny miners are spreading lies, half-truths, and innuendos about SIRG.
Certainly explains a lot!:):)
That discussion would be off-topic here.
Hopefully, someday, WSRA will find a mining venture worth funding.
Thanks for proving my point!!!
THE MPO HAS BEEN ACCEPTED BY BLM - DONE!
PRODUCTION ON ITS WAY!!!:)
There are rumors that "executives" at other penny miners are spreading lies, innuendos, and half-truths about SIRG. It won't work as SIRG is on the road to production with many milestones already met (Hence the jealousy, perhaps?), but - FYI.
LOL That's not true, why I know of a penny miner that is almost in production that got a little financing through Asher. But they used the money wisely, getting their permits (which takes money) and working with highly respected firms to assist them.
Asher wouldn't be a good fit for WSRA because their claims probably aren't economically viable, therefore any kind of funding would just be a waste.
IMO there is nothing worth financing here.
I think that was just a made-up excuse for the sell-off, not really the truth. Still trying to hood-wink new investors into thinking the ship isn't sinking.
When is the payment from GDSM due to WSRA and how much is it?
Hi,
Yes, it is a bloodbath. Some are saying the $50,000 payment from GDSM to WSRA was financed using very toxic financing terms, very.
And you'll know what I'm posting about someday....:)
Agree, CC!
BTW - from what I'm hearing some believe that WSRA's JV partner, GDSM, has been using VERY TOXIC FINANCING to fund their side of this JV. VERY TOXIC. And it hasn't gotten the JV anywhere, no permitting, no production, zippo!
Actually, if Asher was funding something REAL, say permitting that got a miner into production or the use of real, nationally known consultants that were moving the company into production, Asher funding wouldn't be bad.
It is when companies sit on their asses, get funding, and do nothing with it that problems happen. If REAL PROGRESS is being made and PRODUCTION is around the corner, than Asher serves a good purpose.
It would be great if WSRA or their JV, GDSM, had the funds to do something worthwhile and substantial. Unfortunately, they don't.
In pennyland, sometimes investors don't understand that you can't get something for nothing. Real permitting, real production, take money. Pure and simple.
There will be no uplisting, just like there was no real "testing", only 5 gallon buckets full of surface dirt from hand-dug holes. The smoke and mirrors is gone. The jig is up. The buzzards have come to pick the carcass of GDSM.
What is happening with WSRA's JV partner, GDSM, is NOT volume before price. What you are seeing is a SELL-OFF, high volume and a HUGE DIP. Low today is (so far) .0014. That is bad. Now some flippers have entered the picture for a dead cat bounce, but they won't be staying long, in and out, taking their profits.
STICK A FORK IN IT, GDSM IS DONE.
Wonder what WSRA is going to do next....
And the ones have hit! WSRA's JV partner, GDSM, down big again today, .0016. Yikes! Will GDSM be able to make their next payment due soon to WSRA?
GDSM is also seeing heavy volume, over 20 million shares already traded and it isn't even 11 o'clock yet.
Hey jr,
It is exciting that SIRG will be starting the initial production with about 40 employees. That's a decent size operation, especially to begin with. And in pennyland, it is practically unheard of!! LOL
Many have heard that "executives" from other penny miners are trying to spread false rumors, innuendos, etc. about SIRG. Of course it won't work, but FYI.
I can definitely see what people are talking about!
GO SIRG
NOT EVEN CLOSE TO WHAT I SAID.
Here's what I said:
SIRG has accomplished more already than most penny miners ever will. And this is just the beginning.
-Accepted MPO from BLM
-BLM has called SIRG "hard working", "very professional", and committed to starting production
-Submitted their Environmental Assessment to BLM, which is the last step in the permitting process with BLM
-Has hired a nationally known consulting firm to work with the state on AZ permits
-Will be hiring app. 40 employees for the initial start of production
SIRG will not be a dog and pony show. This is not two men and a shovel panning in the desert.
SIRG has accomplished more already than most penny miners ever will. And this is just the beginning.
-Accepted MPO from BLM
-BLM has called SIRG "hard working", "very professional", and committed to starting production
-Submitted their Environmental Assessment to BLM, which is the last step in the permitting process with BLM
-Has hired a nationally known consulting firm to work with the state on AZ permits
-Will be hiring app. 40 employees for the initial start of production
SIRG will not be a dog and pony show. This is not two men and a shovel panning in the desert.
Many have heard that "executives" from other penny miners are trying to spread false rumors, innuendos, etc. about SIRG. Of course it won't work, but FYI.
WSRA'S JV partner, GDSM, is almost in the ones now, so investors have already decided what smells here. Guess that lawyer letter really didn't help, almost down 20% today....
I think a lot of investors have had to change their minds about this WSRA/GDSM venture, including many longs. The definition of a long doesn't mean they become blind, deaf, or dumb.
IMO the most important thing a long can do is continually work on their DD. It is truly a never-ending process, very fluid, always in flux. Accepting risk/reward is part of being a long certainly, but closing the door to information, no matter how troubling, doesn't help.
Good luck to you, Maggie61.
I'm sure others have heard the rumors, some executives at other penny miners are trying to disparage SIRG's rep. Of course it won't work, but FYI.
It can be hard for some to witness SIRG's success on the path to production.:)
GO SIRG
From the newspaper Daily Miner....
9/5/2012 6:01:00 AM
Chloride Copper Mine clears regulatory hurdles
Up to this point, it's been smooth sailing for Sierra Resource Group, the company set on re-establishing the Chloride Copper Mine formerly known as Emerald Isle, and it anticipates producing its first copper in early 2013.
The company recently announced that the Bureau of Land Management accepted its Mine Plan of Operation, which was completed by Paul C. Rizzo Associates, Inc. This formal acceptance allowed Sierra to submit its draft environmental assessment, which was completed by the same firm, in order to comply with the requirements of the National Environmental Protection Act.
"We are working closely with BLM on permitting, and the interactive process is positive," said Sierra CEO Rod Martin. "This puts us on schedule."
Once completed, the federal side of the permitting process is done, he said.
Sierra contracted the firm CDM Smith to handle the transfer and modification of the existing Aquifer Protection Permit, which is handled through the Arizona Department of Environmental Quality.
"Sierra is confident in CDM Smith's ability to lead this permit process to completion," Martin said.
When all permits are approved, Sierra will be free to complete construction and start production, Martin said. The project is expected to produce nearly 5 million pounds of copper per year once it gets going.
Through the process, Sierra managed to locate a mine engineer, who will manage the entire facility, and a metallurgist, who will run the solvent-extraction/electro-winning plant.
"Hiring of various positions has begun and the bulk of the staffing requirements will be filled as we get further along in the permitting process," Martin said.
Solvent-extraction/electro-winning is a process used to pull copper from oxidized copper ore bodies.
"This experience has been terrific," Martin said. "It's gone very smoothly, but in any business there's always going to be hurdles."
Copper is trading at about $3.40 a pound, and its future curve should either stay flat or increase slightly due to the increased demand in developing nations, Martin said.
"In the long-term," Martin said, "copper mining looks like a good place to be."
Though the company has yet to start officially hiring, Martin said people hoping to find employment with Sierra Resource Group's Chloride Copper Mine should send an email containing their résumé, work experience and salary requirements to info@sierragroupinc.com.
Martin said the company expects to hire up to 40 people to operate the mine site.
http://kingmandailyminer.com/main.asp?Search=1&ArticleID=52504&SectionID=1&SubSectionID=798&S=1
When is the next payment due from GDSM to WSRA and how much is due?
WSRA's JV partner GDSM is a bloodbath, close to hitting the ones. OUCH.
Shareholders are not buying the JV partnership talk any longer.
I think their point is this: WSRA/Chaffee has the leases and claims, GDSM doesn't. So, what will GDSM have to entice anyone into doing business with them? Not much.
Of course, I have a hard time agreeing those claims/leases are worth anything. Seems like the only people profiting from any of this are Chaffee and GDSM/Lovito brothers.
"Actually, I'll be following ANY stock involved with Western Sierra..."
Why? I don't think WSRA has done anything worse than GDSM.
"From what I have seen the company has used the funds properly."
BINGO!!!
SIRG has almost completed the permitting process through BLM and a very well-known national firm is working with AZ on the state side of the permits.
SIRG's executives aren't sitting on their asses, they are getting ready for production, working with firms that represent SIRG in the very best way, and heading toward a real goal.
BTW - even after adding in the 8s and at a penny, I am still VERY, VERY green.
Do you know what WSRA did with the $50,000 check/payment that is such a hot topic? How was the money spent, what did it go for?
I have heard from investors who have lost a lot of money investing on the words of this JV partnership between WSRA/GDSM. It is sad.
And looks like the "merger" between WSRA's JV partner GDSM and a private company are off, according to their new PR. Well, who didn't see that coming?
warren1
Friday, October 05, 2012 11:42:49 PM
Re: TheStockBull post# 4438
Post # of 4461
Just remember that one piece of crap plus one piece of crap equals two pieces of crap, even if they dress it up for Halloween and call it a merger.
It is a great article! Thanks for posting it, always helps new investors.
As you know, the SIRG longs are a pretty tight group, and I would say that at least one calls weekly to get updates on the permitting process directly from government agencies.
SIRG is almost completely done with the BLM process. Then all that needs to be finished is the permits through the state and SIRG has a nationally known consulting firm working with the state to complete those. This was discussed in one of their most recent PRs.
BLM has personally told me that SIRG is "working hard" to get the permitting process complete, SIRG is "very professional", and working with SIRG has been a good experience.
How many penny miners have a reputation like that at a federal regulatory agency? Not many.
Rizzo was contracted by SIRG to represent them during the permitting process with BLM.
http://www.rizzoassoc.com/cms/
Yes, and SIRG has publicly stated they will be hiring about 40 employees just to start production. So, this won't be a dog and pony show, like a lot of penny miners, this will be a real operating mine.
Have a good day, Salty!
Hey Ballstreet! Always good to see you! Go SIRG
How many penny miners are on the cusp of production like SIRG? We are almost done with all the permitting through BLM and SIRG has a national consulting firm working with the state to finish state permits.
It is so rare in pennyland that a mining company is actually going into production, it fills some with jealousy. SIRG is a rare bird among a sea of pigeons. While other shareholders are getting pooped on, we are heading to production. So, I can certainly see where jealousy could come in.
Does WSRA or their JV GDSM have any approvals from any federal or state regulatory agencies for mining, like BLM? Are they working with any nationally known, well respected firms to help them through the permitting process for mining on their behalf? Has WSRA or their JV partner GDSM had a meeting, as they promised months ago, to address shareholder concerns about testing on 5 gallon buckets of surface dirt?
The answer to all those questions is NO.
And yes, some penny miners have accomplished ALL of the above, just not WSRA or their JV partner GDSM.