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Good points re NSS, Opp. This theory that company insiders are selling shares to let the MM's off the naked short hook in a win-win scenario seems to me to be the best fit with what's been happening to SLJB over the past couple of weeks.
The insiders still make big profits on the sales as they bought these shares sub-penny. The MM's/hedge funds take a hit but much less than they would when the PPS really takes off.
Presumably part of this possible deal is that the MM's/hedge funds agree not to target SLJB in their nasty little scams going forward. The PPS is allowed to rise to its proper level based on earnings, assets etc.
Much as I'd like to see the NSS scammers hoisted by their own petards this sounds like a good deal to me.
RRS is the ticker symbol for Randgold Resources which trades on the London stock exchange. Am I getting warm?
RRS mines in Africa and has no operations in Russia afaik.
Good to have you back, Rager. No better man to clear up all the garbage around these parts.
Heehee.... you've nailed it here, Pugdog.
Just testing if I'm in jail or not.
I can't keep up with the thousands of posts here each day. Mostly board clutter unfortunately. I have a question that might have been answered already but I can't find it....
Do the financials posted on the website include the figures for the old Loftwerks? The PR states: "The posted financials are a compilation of Sulja Bros. and all of its North American and Middle Eastern wholly owned subsidiaries.". However I don't see any mention of Loftwerks in the posted figures. Have I missed something or are the Loftwerks figures still to come?
TIA
Thanks for that, Benz. You are the voice of reason.
Nerves seem to have gotten a bit frayed here recently and even long time board members have been losing faith and turning on each other. 2C does his very best to keep morale up and keep the bashers at bay but he can be a little heavy handed at times and has alienated some folks.
This used to be a great board with a good spirit and we all supported each other. The slow decay in the PPS has affected us all and much of the genuine criticism levelled at the company has been justified. But remember that the darkest hour is just before the dawn. AURC will turn the corner very soon I have no doubt and all our concerns will be laid to rest.
Hang in there a while longer, guys!
It seems to me that Buckie is trying to spread confusion here about the NSS position. Either that or he is a total idiot and has no idea what he is talking about. He doesn't sound like an idiot though.
We've been thru this movie before, Marc. Last time the idea was knocked on the head by 2C, West and others. I've seen a figure of 15 million talked about but I'm not sure on what basis. I'm in if the idea is approved.
I can account for about 5% of the float and have never sold a single AURC share. I've no problem with those who trade the stock btw but I do have a big problem with the shorties.
Taking a break from the sunshine to catch up here it seems there has been much huffing and puffing recently but nothing of any substance.
For those who have any doubts about being in the right sector at this time here's an ebook that might be of interest while we wait for signs of life from the Aurus HQ:
http://goldnews.bullionvault.com/houseview/the_case_for_gold
7151, Jean-Talon east, Suite 110
Montréal (Québec),
H1M 3N8, Canada
Relax, Martin, all is well. The old hands are still around I have no doubt. I've been on holidays for a few weeks myself but I see that nothing much has changed around here. Everything has been said that there is to be said at this time. Now we just wait. Time is on our side. Gold is increasing in value and our reserves aren't going anywhere.
I'd advise those who are getting restless to stop watching the price moves every day. Take a walk in the fresh air instead. The weather is glorious at the moment, at least where I am. Enjoy the sunshine. The news will come in its own good time and we will be pleased.
Still here and still long with over 5% of the float.
The real float that is.... not counting the phantom shares.
OT: Being on the Reg SHO list indicates that there is a large naked short position in a stock. Naked shorts are electronic counterfeit shares that artificially increase the supply and therefore lower the PPS. They are one of the principal ways that MM's can manipulate the market.
You can read the basics here:
http://www.sec.gov/spotlight/keyregshoissues.htm
For a more in-depth look at NSS I'd strongly recommend Dr Patrick Byrne's presentation: "The Dark Side of the Looking Glass"
http://www.businessjive.com/podcasts/market-liberation/
(new condensed version here)
It could be that AURC's FTD's fell to 490,000 for a few days which got them off the SHO list. Then a bit of volume comes in and the MM's short it above the threshold limit again.
As I said before, these parasites haven't gone anywhere.
Guess again, Goldy. There would have to be at least 500,000 FTD's for AURC to qualify for the Reg SHO list;
http://www.sec.gov/spotlight/keyregshoissues.htm
4. Inclusion on, and Removal from, Threshold Lists.
At the conclusion of each settlement day, NSCC provides the SROs with data on securities that have aggregate fails to deliver at NSCC of 10,000 shares or more. For the securities for which an SRO is the primary market, that SRO calculates whether the level of fails for each security is equal to, or greater than, 0.5% of the issuer's total shares outstanding of the security. If, for five consecutive settlement days, such security satisfies these criteria, then such security is a threshold security. Each SRO includes such security on its daily threshold list until the aggregate fails level for the security falls below these levels for five consecutive days.
How can the float be diluted without increasing the O/S?
Apart from the float there are restricted shares which cannot be sold at this time. So where would this "dilution" come from?
The only "dilution" we have seen here is NSS imho. I'm not convinced that this has fully gone away just because we are off the Reg SHO list. The market manipulators have many ways of concealing their nefarious activities.
It will be interesting to see what Mark Cuban's new website on stock fraud turns up. No doubt it will investigate his theories about naked shorting. I'm sure LFWK would make a good case study.
June 13, 2006, 8:38PM
Cuban to Finance Stock-Fraud Web Site
By DAVID KOENIG AP Business Writer
© 2006 The Associated Press
DALLAS — Dallas Mavericks owner Mark Cuban is financing a new Web site that will investigate stock fraud and corporate wrongdoing. The billionaire also said he'll buy and sell stocks based on information before the site publishes it.
Cuban said he has not been a direct victim of fraud but was motivated to start the site by his approach to investing.
Continued:
http://www.chron.com/disp/story.mpl/ap/fn/3967107.html
"Yes, Aurus should be moving towards its real value" ~ GP
This won't just happen. Management will have to make it happen. The market doesn't appear to be impressed by huge P&P reserves, particularly in a pinkie with properties in Russia. We can complain endlessly about that but that's how it is unfortunately.
This seems like deja vu all over again.
Just to let you know that we've been thru this movie before. The idea of a share count was vetoed by the Big Kahuna.
The shorts don't seem to worry much about the mythical squeeze anymore. Uplisting does not seem to bother them either as they can just change cusip number and symbol, same as longs.
A dividend might be the only thing they would take notice of as they would have to pay that on the shares they are short.
I really don't think that there's much we can do to influence the PPS. That is controlled by the Market Manipulators and Management. In the short term the MM's can run the price up or walk the price down as they please, especially during quiet times such as this. In the longer term it is up to management to come up with the goods to convince more investors into the company.
Interesting to see that Kincross Gold is comfortable with the political stability in Russia. Seeing as their Kubaka mine is coming to the end of its life perhaps they would be interested in a JV on one of the Aurus properties? They might make us an offer we can't refuse.
Where's our marketing guy?
Right rruff... AURC is proof that Reg SHO is toothless. Now up to 22nd place on the Reg SHO list with 94 days listed. As far as we know nobody has even been slapped on the wrist for the offence and shorty seems to be in no great hurry to cover. Why should he when there is no penalty for not doing so?
OT: Okay Dr F, if there are regulations against shorting OTC stocks as you claim, then it may be a matter of lack of enforcement. One high profile case doesn't mean that the regs are strictly enforced. I get the impression that JB speaks from experience when he refers to shorting OTC stocks.
OT: I think we're getting our wires crossed here. I wasn't referring to any kind of naked shorting, to make an orderly market or otherwise. The claim Jim Bishop makes is that it is possible to legally short an OTC/Pinkie both in Canada and the USA, under the conditions he listed. The first was to get a borrow, so there's no question of naked shorting. The stock must first be borrowed before it is shorted.
He claims that there is no regulation against shorting an OTC/Pinkie so if anybody knows of one I'd be interested to hear about it.
You say that there is no borrowing of OTC shares allowed. I'm not sure if you mean at the DTC's Stock Borrow Program. The rule there is that nothing under a dollar can be loaned/borrowed, I believe. Again JB claims that certain brokers will allow shorting against stocks that are on their books, although it is expensive to do so.
You mention the lack of liquidity in OTC stocks and of course the shorters will claim that their activities add to liquidity. This is one of the main arguments in favor of shorting in fact.
OT: Dr F, you say that OTC stocks cannot be legally shorted. That was my understanding too but here is a recent post from Jim Bishop on another board. I don't agree with Jim's views on the NSS issue but he usually has his facts right. Here's what he says about shorting OTC and pinkies:
----------------------------------------------------------
Shorting pennies is perfectly legal both in Canada and the US. You just need the right broker and a ton of money for margin and maintenance.....oh you also need to be out of your mind for anything under .50. In Canada for any stock, any exchange, to short you need to, one, find a borrow (i.e borrow the stock), two, put up 100% margin and three put up .50 (that's fifty cents) per share.
Show me a rule saying you can't short penny stocks, or pinks.
Here's the Investment Dealers Association of Canda rule book to file away for future reference.
http://www.ida.ca/files/regulation/rulebook/rulebook_en.pdf
Here's the stock margin part regarding OTC and pinks.
(ii) Subject to the existence of an ascertainable market among brokers or dealers the following
unlisted securities shall be accepted for margin purposes on the same basis as listed stocks:
Securities of insurance companies licensed to do business in Canada;
Securities of Canadian banks;
Securities of Canadian trust companies;
Securities of mutual funds qualified by prospectus for sale in any province of Canada;
Other senior securities of listed companies;
Securities which qualify as legal for investment by Canadian life insurance companies, without
recourse to the basket clause;
Unlisted securities in respect of which application has been made to list on a recognized stock
exchange in Canada and approval has been given subject to the filing of documents and
production of evidence of satisfactory distribution may be carried on margin for a period not
exceeding 90 days from the date of such approval;
All securities listed on The Nasdaq Stock MarketSM (Nasdaq National Market® and The Nasdaq
SmallCap MarketSM).
(iii) All other unlisted stocks not mentioned above:
Long Positions:
Margin required - 100% of market value
Short Positions:
Securities selling at $0.50 or more:
Credit Required - 200% of market value
Securities selling at less than $0.50:
Credit Required - Market value plus $0.50 per share
~ Jim Bishop
I doubt that this new Rule 3210 will make any difference for AURC. It extends Regulation SHO to non-reporting OTC equity securities. But AURC already comes under Reg SHO (as it's on the list) so nothing will change. Anyway Reg SHO is toothless as far as I can see. There are no real penalties and no proper enforcement.
I wonder if this post from RB and the 2 different stockbrokers are talking about naked shorts? It seems to me that they are not. What they say may apply to ordinary short positions.
If there are 500 million shares in LFWK plus another 100 million (say) naked shorts (FTDs or counterfeits) then there would be effectively 600 million shares. If the official float is 22 million these 100 million counterfeit shares must also be considered. So there would be 122 million "shares" trading.
The word I've heard on most boards is that an uplisting/cusip change would force these naked shorts to cover their positions. As is it not possible to legitimately short a pinkie these are the only shorts we need consider here.
Somebody here mentioned that shorty could hang in through a CUSIP change and uplisting. Surely not?
My understanding is that uplisting will finally force the shorts to cover.
OT: What's the story with NDOL? A few weeks ago everybody was wildly enthusiastic about it. Then the buyout turned into a merger and now everybody seems to be moaning about it. PPS has crashed from $1.40 to $0.40 in a few weeks.
I didn't invest in NDOL because the potential here is so much better but whatever happened over there does seem to be one of the factors dragging us down here.
OT: I don't know, Pugdog.... the number of MMs is certainly a lot less for the pinks, maybe three or four. Makes manipulation easier I guess.
I've heard rumblings of mob involvement on Wall Street before. They seem to have the regulators in their pockets as well. Hopefully the law just passed in Utah will be the start of the fight back against these criminals.
Okay Rook... I haven't been keeping up to speed with the progress of the NDOL merger. My figures apply to the pre-merger situation. The ratios have probably changed a bit since then.
True.... although NDOL is still undervalued.
NDOL has roughly twice the O/S and 2 1/2 times the PPS. Even if the reserves were the same value it would be five times as expensive as AURC. In fact AURC's reserves are far more valuable so it has much greater potential imho.
Uplisting would only be a temporary fix for the price manipulation. Nothing to stop the scammers coming back and doing the same thing all over again on the OTC BB. Look at the Reg SHO list. Not just pinkies there.
My understanding is that a company must be fully reporting in order to get a listing on the OTC BB. AURC has not made any filings with the SEC yet. Shouldn't be a big problem as you say but we are dealing with Parkin time here. NDOL seems to have taken up most of his time recently. I don't know of any market cap or PPS requirements to uplist.
Good analysis for somebody who claimed not to know what he was talking about.
I'd agree that the MM's are very reluctant to lose any money at all and will use every trick in the book to avoid doing that if at all possible. I was just reading Dave Patch's blog about the case of Cal-Maine (CALM) which shows the lengths they will go to:
http://www.thesanitycheck.com/Blogs/DavePatchsBlog/tabid/66/EntryID/306/Default.aspx
I hadn't heard about the $25 million market cap cut off point that you mentioned. Will that affect the reporting of short positions that is coming on 3rd July?
It seems you went from one extreme (92 cents) to the other ($66.39) in your estimates. The fair valuation is almost certainly somewhere in between.
Realistically, if management follow through on their stated plans for dual listing/uplisting/JV etc, I would be happy with a PPS of $2 - $3 by the end of this year. After that who knows?
sub360, you are very wide of the mark with your estimations of AURC's value imho. You are correct that AURC is very undervalued at the moment but you greatly underestimate the extent of that. The link in the Information Box gives a guide to estimating the value of mining companies based on their proven and probable reserves.
LINK to Publicly Traded Gold Stock Valuation Comparisons and In-Depth Analysis:
http://www.goldstockanalyst.com/sample/0206.pdf
Based on AURC's current 7.1 million ounces P&P reserves (and ignoring the silver and other metals for this exercise) and taking a gold spot price of $650/oz, giving us an average valuation of $256 per ounce of P&P reserves......
7.1 million x $256 = $1.8176 Billion
O/S = 103 million
Average PPS = $17.64
This is the average PPS for a gold mining company with AURC's level of gold reserves. AURC also has very considerable reserves of silver and other metals which should increase its value above the average. A negative factor is that it is still trading on the Pink Sheets and is subject to price manipulation by the NSS. The mines being in Russia might also be considered a negative on the US markets due to concerns about government policies there.
True... it matters little what he is called. Probably just a blip on the website. I don't see GP/Monimpex staying in their present role too long anyway.
Is GP our President? I thought he was and he certainly seems to be the main man there, yet the Aurus website says this about him: "He is President of legal affairs and had practiced for over 25 years specializing in corporate and commercial matters and has sat on the board of many corporations as legal advisor." It doesn't say he is President.
Agreed about OTC BB, especially if upgrading forces the shorts to cover.