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Unfortunately they are going back to the dark days when they pumped numerous developments only to lapse into utter silence shortly thereafter on all follow ups concerning those self same developments.
They are clearly underperforming and do not want to answer for shortfalls past and clearly shortfalls yet to come.
To have the audacity to suggest that silence, secrecy and delayed reports are good for shareholders is obscene.
Clearly we did not need John after all.
Mark was able to do the same things for years all on his own.
I am long here with much to lose but you can only make excuses for mismanagement for so long.
They either value their shareholders or they don't.
It is what it is but I for one am not stupid enough to swallow an utter snow job.
The only reason they wouldn't want to report monthly extractions as they have in the past is because of poor performance.
Its not rocket science and they clearly do not want to answer for it.
It also shows they just want us to sit back and take it all quietly.
Much as I tried to find something positive in the latest Update all I can see is fluff and lip service that will be offered to investors.
The very things honest and good investors want to know are the very things the company intends to withhold.
We have done enough for the people of SL, it is time the company started returning value to its shareholcders as well.
Those are the things we need to here IMHO.
eye
I have to admit it certainly gives that appearance.
Secrecy for a publicly traded junior Miner generally shows poor performance and blatant disregard for loyal shareholders.
There has to be some gold but obviously the yields are as dissapointing as their Operational development this year.
They should have had all equipment ready to fly Jan 01 or at least the machinery we used last year that was still in the country.
eye
I am a little frustrated understandably but this company better start demonstrating they value their shareholders and are comitted to building value for them.
If they are not advertising, promoting themselves and building value for shareholders, updates on their website is not going to bring in new money.
A blatant disregard for shareholders will drive the stock to new lows.
eye
the funny thing is that they are making it sound like only two extraction reports is for our own good.
How gullable do they think we are.
We have a 6 month mining season and they were only able to get our machinery working at the end of April if they even managed that.
We had dredges and mobile wash plants alrready in the country and that is the best they could do.
If mining is truly the major focus here they are failing miserably and this latest Update simply gives them licence to underperform with no accountability to shareholders.
No wonder the stock price has been driven down so far.
The only good thing is that we at least know an actual extraction result is coming sometime.
If the company can not show us growing extractions, machinery greatly enhancing extractions and equipment meeting expectations why would we want to hear more crops are being planted.
Most of us are glad the people of SL are benefitting but the company better start building value for shareholders or no one is going to continue supporting this company.
eye
It doesn't appear current management has any regard for their shareholders.
Extraction results twice a year makes it look like they need to hide info from us.
Shareholders want to know extractions monthly.
They want to see month by month increases.
They want to see Recurring Revenues so they know Dilution does not need to come in to play.
They want to see the effect our machinery is having as it comes on line.
All 2 extraction reports annually does is allow the company to produce poor results, start mining late, and not not have to tell anyone.
This company has lapsed into long stretches of silence concerning its Operations before.
Shareholders are effectively taken out of the loop and it has driven share price down continually ever since they managed the company that way.
It looks like we are headed that same direction and I may have been wrong about John.
He is obviously not interested in shareholder value and communications have just taken a huge backward step.
Operations are just a part of picture. Investors and shareholders will always want to know Revenues and in the case of mining, actual extractions.
That is what builds shareholder value in any Junior Mining Company or even large mining company for that matter.
When the company was PR'ing the Pamapana Area, Hard Rock Mining, and increased production and Yields at Pampana, the stock price went up.
It is the secrecy, failed deliveries, abandonement of Projects in silence and dismal communications that drove the stock price into the .000's.
No other mining company I have ever seen Operates this way.
I am really dissapointed.
I thought we were actually at a point when things could really pick up and where shareholders would be be valued at least as much as the people in SL.
Anyone saying they don't want extraction results monthly or at least every couple of months is lying IMHO.
We all want to see improvemnents and the effect of our machinery as it comes on line.
Even Financial statements require quarterly Revenue and Expenses.
Does this mean they will only prepare two financials so they can hide extraction results.
If so , we will never become Fully Reporting or move to a higher exchange.
This looks like once again the company wants to hide things from shareholders and be unaccountable for it.
eye
My short term wish list
- We get land based Mining Operations working through the rainy season
- we get fast water dredging during the rainy season
- we process stockpiled gravels through the rainy season from our dredging Operations
- Updates, expansion and buyers interest from our CC Projects
- actual Revenues from diamond sales
- better communications from the company
- no more dilution
Thats not to much to ask is it?
I did say it was a wish list lol.
eye
Hey Tosca
I haven't given up on our CC projects in the least. It does appear like interest for the sale of our CC's has been waning which is why I believe they are exploring the biomass aspect.
I believe biomass was tending towards lumber and pulp products but could easily be mistaken.
I love our CC Projects.
They cover planting forests, preserving forests, harvesting timber and planting carbon generating crops.
Seems like everything that was talked about in Copenhagen but no one is buying our Project.
Perhaps the next Update will show CC progress in our Projects.
Not holding my breath on gold or diamonds but would love to see phenominal yields.
If there was though I expect we would have heard about it by now.
If our new dredge or dredges can operate in fast water, perhaps our mining season will reflect that.
We need year round mining and our CC's to sell for significant improvement.
There has been no mention on Financials about any Revenues from diamond sales so far even though we know numerous diamonds have been extracted.
If one of the stocks I invested in would have found as many diamonds 50,000 shareholders would have driven the stock price 10,000 fold but thats another story.
Hopin for gold but still think CC's hold our greatest potential.
eye
Interesting article about forest preservation.
http://www.reuters.com/article/idUSJAK36480420100531?type=marketsNews
No wonder Norway didn't want our CC's, they had other plans.
The cool thing about our CC Projects is that we have forests that can be peserved as well.
Our CC Projects capture CC sales, agri Projects, forest conservation and forest replanting.
They cover all areas in the forest including the generation of dollars through, pulp and lumber products.
There is Revenue potential in every aspect of our CC Projects.
They just need more development and a sale or two.
eye
I really hope to see tons of stockpiled gravels to process during the rainy season but we must remember we had dredges working till the end of the season last year as well as mobile wash plants then.
What happened to the stockpiled gravels last year.
Rumour has it they were swept away by the rivers.
If that is so I hope they learned a lesson last year.
With a fast current drede we can dredge well into the rainy season as well.
They better get those gravels safe for porcessing though.
eye
There is no doubt C that a lot of us are logging in there and requesting a quote on SGCP.
I have been doing it every day of late and doubt I am the only one.
I did notice the count increases after I have done it.
I will say I can't really see where the company has ever promoted itself in over two years.
They have PR'd significant events such as hard rock mining, the mobile processors expected deliveries, upscaled Alluvial mining in the Pampana River but have never built on momentum and sad to say have had dismal commuications at times concerning their prior claims.
Essentially they left shareholders hanging on numerous occasions.
Communications did improve once John came on board and the CC's give us depth we did not have before.
We have continued to improve and expand our mechanical extraction potential and gold is still on a tear.
Truth is we are in better shape than we have been for a long time.
They do need to get Operational far sooner though with a short mining season.
I am expecting extractions into June and July though as we did last year.
Our CC Projects need a buyer.
It almost appears they are using SL1simply as a lumber and pulp project and that CC sales themselves have been put on hold.
There is a lot of money to be made in our CC Projects just from pulp and lumber and I think interest in CC's is bound to increase again as the year progresses.
I know they could do a better job promoting themselves but it is what it is.
Fortunately we still have a number of positives in play that can have a powerful upward influence on stock price.
The last PR kind of looks like leaving admin to John while Doug concentrates on Operational activities including expansion.
I must say I believe that is clearly in line with his already demonstrated talents.
He is far stronger there then in Admin IMHO.
I think the mix of Doug doing Operational activities and John doing Admin could work very well.
I suppose we shall have to wait and see.
John has proven to be a better communicator as I see it.
Improved communications and Admin as well as strengthened and expanded Operations can not be a bad thing.
eye
I think it is just all of us going there ourselves and requesting a quote on SGCP.
None the less, It does help promote our stock which management seems unwilling to do.
The more free promos the better.
eye
Our boardmarks has increased a tad as well.
I sure would like to know what could send Doug back to SL after a serious bout of malaria.
Course, we really don't know if that story was true but if it was it sure makes you wonder.
I really hope that our next gold extraction report speaks well of our equipment.
We really could use some stellar results for a change.
eye
He obviously fealt the things to do were important in light of his medical circumstance.
We do have employees in SL that can tend to day to day activities.
I find it somewhat intriguing.
eye
Thx to those sharing info concerning a possible FR next week and Dougs recovery.
I am extremely surprised he would go back to SL after a short recovery.
Canada does have an excellant but stressed medical system.
The fact he went back if it is true means there are still things happening there and there is still things to do.
I was hoping for two more gold extraction reports this year and now we may only get one but We could sure use a good one.
Hope today is a grend day for SGCP.
eye
The company has been silent for long periods of time before without diluting.
They don't decide to dilute based on activiities on this or any other board.
They don't pump themselves on stock message boards.
CC's may not have sold yet but they are currently on the market and SL2 is supposed to be developed in Sept.
Even if they haven't sold by then, further developments could still send
SGCP stock much higher.
eye
Sorry meant Doug. I was thinking about a differant CEO from another company but thinking about Doug.
eye
SGCP is not without risk either.
Gold extractions for the last two years have been poor.
I am a little dissapointed we did not get a gold extraction report the middle of April which would mean we would get another before sometime in June.
As it is we may only get one Update now on extractions.
Remember it is the company that stated our dredges and upgraded wash Plants were coming on line in the end of March to early April.
Failure to disclose results over a full month later do not bode well if things were going well.
It doesn't mean failure but common sense dictates good results with shareholder Updates.
Regardless of what Mark claims, it is investors that have enabled him to get this far and investors want to be informed.
The less info released, the fewer Investors will be attracted to our stock.
The CC's is still the ace in the hole and the only thing that can carry us through the next Rainy Season so we at least still have that.
This is the longest we have ever had to wait for an Update on a return from SL from Mark.
Kinda scary actually.
The price has held up well though a properly timed PR could have a profound effect on stock price and momentum.
Things were pretty good before I went to work, I must say I am a little dissapointed to see the days activity after I left.
eye
Because it is listed on an American exchange.
Yes it still trades in Canada today but on an American Exchange.
I could have bought or sold here in Canada today.
eye
L2 Update
2 MM's on bid at .0021
2 MM on ask at .0022
Volume is 17,162,329
Day High is .0023
Day Low is .0018
38 total trades so far
Headin out the door shortly, last Update from me today
enjoy
eye
The fact 2 MM's were pushing the bid shows new highs could happen without news.
Yes AUTO is one of the MM's on Bid
Heres some Carbon news
http://www.businessweek.com/news/2010-05-23/new-zealand-to-start-emissions-trading-prime-minister-key-says.html
eye
The .0023 sales were above the bid and ask.
Just a motivated buyer.
I think .0024 is a key price and if we we reach it we could see a spike past it.
eye
He's gone now
Bid at .0021 and ask at .0022
AUTO is one of the MMs at .0021 now and he has an ask of .007
Good to see
eye
Another MM joined the bid at .0022 and we had a trade at .0023
eye
L2 Update
Bid 1 MM's on bid at .0022
1 MM on ask at .0022
Volume is 10,361,491
Day High is .0022
Day Low is .0018
27 total trades so far
enjoy
eye
Just keep in mind that even a billion dollars worth of ore in the ground is worthless to us if we can not process it efficiently and profitably.
eye
I have the bid at .0018 and ask at .0019.
eye
I think its possible that shareholders could still come out all right but the risk factor has increased substantially.
Actually though, if the compnay had not declared Chapter 11 I think shareholders would have had a far greater chance of losing everything.
the company is now protected while it reorganizes and I think they will take all the time they need to get things right.
Its gonna feel like being in a plane and hitting air pockets where you drop instantly and rise just as fast.
Good luck to us all cuz we are going to need it.
eye
Be careful people they very often do get wiped out or possibly Reverse split.
You can play a bounce on Bankruptcy's but be careful.
Chapter 11's do protect Assets and delay payments of debts I think.
It is actually a protected state for Companies they can be used for numerous months sometimes.
For the moment, it is probably the best thing that could of happened for shareholders and the company.
It could well have been responsible for the cancelled Trustee Sale.
eye
Haven't read replies to you yet but there are a number of things that can be happening.
Heres a few causes.
Most MM's have a bid and an ask. The bid is the price they are willing to pay to buy the stock and the ask is what they are willing to sell for.
Many MM's will be well below the Bid and much higher on the ask than most.
That generally indicates they are not active in the stock.
Those who are active however have set their parameters and generally monitor the prices.
Occasionally one will not be paying attention and will not lower their bid and ask as they see other MM's dropping the price. They have set their automated buys and sells.
The other MM's have dropped the bid to what the first MM was willing to pay and they will essentially be selling as many shares as they are willing to the MM highest on the bid.
They are happy because a MM is willing to pay what they are willing to sell for.
When the high bid MM finally wakes up and sees what is going on they drop their bid also.
There are other occasions however when the high bidder is extremely motivated to accumulate either because they are covering a short position or one of their clients has a large limit order buy at the MM's current bid.
They will not close that position until they are done accumulating even if other MM's are pressuring them to drop the price.
Eventually either the accumulater or the selling MMs on the ask break and raise the ask.
It will always happen eventually.
If another MM becomes motivated and joins the bid it put pressure on the selling MM to raise the ask.
If more MM's join the ask side the accumulating MM is being forced to drop their bid.
It will always correct either up or down eventually but large orders, covering and shorting will have a lot to do with active MM positions.
there is a bit more to it than that but that will give you a general idea of why the bid and ask can be the same and why the bid could even be higher than the ask as I saw here earlier this week.
Hope that helped a bit.
eye
Thx Ally.
I am still extremely busy with taxes and am taking an Industrial First Aid course.
It is intense.
8 hrs a day with 3 - 4 hours of homework so I am not posting much but do try to skim messages on this and another stock.
If the sale was on the 15th we should have heard some of the outcome by now.
Perhaps the C 11 pevents that sale from occuring.
It may have been a wild card played to keep our mineral rights and assets intact.
It isn't good anyway you look at it but it wasn't difficult to see trouble was brewing.
eye
Well Chapter 11 sure sucks but I suppose it was due.
You can't secure financing without Revenues and 1 Bil shares diluted at .002 would only have raised 2 mil in Revenue.
Hardly enough for compliance let alone Operating costs.
Without a Chapter 11 Billions would of had to be diluted or a large Reverse Split would have occurred.
Both would have sent the stock price reeling which would have even multiplied dilution requirements.
C 11 does protect the assets and maybe even claims and has the feighnt chance the company can restructure and emerge from C 11.
We could still drop lower tommorrow.
To angry and disappointed to say more.
eye
That would be good to know.
Does anyone know the date of the proposed sale?
Been really busy and struggling to keep up.
Thx
eye
I suspect it was tailings concerns and perhaps epa or governmental agencies that promted the shutdow.
We had identified problems with the settlement pond long ago but probably did not achieve sufficient progress in delaing with.
Even uneconomical processing would still be generating Revenues and would help us keep compliant with our magnetite contract.
It seems likely we were forced to shut down even if we were making some progress.
Unfortunately there is no cheap fix here and compliance will be extremely costly as well as Operating expenses.
Thats means we need financing or more dilutuion and dilution on a dropping stock multiplies the amount of dilution required to raise Capital.
WE have serious obstacles that may not be overcome.
We still maintain valuable claims and ore grades and still have an expensive mill on site.
It may just take some minor adjustments after compliance issues are met.
It has definately become a coin toss but we seem to have more negative influences than positive at the moment.
eye
Wasn;t the Milford Miracle date around the middle of JUne.
If so he is saying the mill is down for at least another month.
No hint if we will be even close to reopening.
I have a feeling share price is going to continue to drop, I just don't know how low it can go.
eye
I would have to say I know that feeling but if that is indeed his average and he is optimistic the question would be why has he not averaged down his position?
Trustee Sales have indeed been cancelled before but the mill was running at those times.
We are clearly producing no revenue currently which puts us in a little worse situation IMHO.
They have to come up with money through financing or dilution and with a wilting share price the dilution would have to be severe.
They said we not only have problems with our tailings, we also can not process our claims economically.
That means major changes are needed and will be added to costly Operating Expenses to get producing once again.
THe best thing now would be to obtain a large Bridge Loan or LTF.
Major Upgrades are in order just to get us back into Production.
There are Major Hurdles to overcome.
eye
Most of us have woken up to reality.
I started to become highly suspicious when we started shipping concentrates to different smelters without reporting Revenues.
I could also see that instead of the mill ramping up we never seemed to get anywhere.
The failure to report material events such as smelter changes, mill shutdowns and no feedback on mill Upgrades also made me uneasy and MD getting married while the cmpany appeared in bad shape is not something a good CEO would do IMHO.
If it was me, I would have wanted to give my shareholders good news and progress at the same time.
The law suits continue and although I do not doubt the resources, and ore in the ground, without Revenues the only way to fund ongoing Operations is through further dilution or a RS.
Pretty hard to get LTF without Revenues.
This company has major challenges which can be overcome but the outcome is far from certain.
Mark D has been instrumental and he did get the mill completed but has got to shoulder a lot of the responsibility and blame.
The flip side of responsability is blame and he will no doubt be coming under fire by those of us who have lost so much supporting him and his enterprise.
I find MS far more forthcoming with actual facts and where we actually stand.
Its not over, but it could be in the not to distant future.
I think we will survive but additional dilution or a RS is likely immenent IMHO.
eye
Thx but I have known the typical Dry and rainy seasons in SL for years.
Just checked one of my sites and several of the cities are 30 - 40% likelihood of precipitation.
It is the company that said the Rainy season lasted longer than normal.
They said that the year before too but still had processors working in Dec.
We had gold extractions reported up to July 2009.
We only just got them working in April at best.
The official rainy season is from May to Nov.
Pretty poor planning for a first and foremost Mining Company with a limited Operating Schedule.
Good thing Gold is high and we still have our CC Projects ready for sale.
Since Marchs extraction results we should have started two Dredges and two Upgraded Wash Plants.
The non mechanical Alluvial Operations would also be proceeding at least the same production levels.
If the company wasn't lying, there could yet be sizable extraction Updates to come.
If the washed gravels produced by the dredges is moved to higher ground, our wash plants can still operate in the rainy season.
I believe that has also already been discussed by management.
Although the rainy season is about to take full force shortly. it does not effect the sale of CC's or their Projects.
SL2 is supposed to be developed in Sept.
I still think their could be sizable upside that would have to prompted by:
1) the sale of our CC's
2) favourable gold extraction reports
3) possible processing of gravels from stockpiles in the
rainy season
4) development of SL2 and CDM submission
If none of those happen or are slow in developing last weeks gains could wane once again IMHO.
eye
Although I see far more benefits to our CC's in relation to investor potential, I must admit if the company could actually get it together on their gold producing end, perhaps they will be able to produce eight digit income from mining.
Our gold production went downhill after abandoning the pampana area no matter what the reason.
We had other areas and they have not produced as much gold with mobile processors and dredges even what was recovered with picks and shovels from the Pampana Area.
Personally i think it is time to get back there.
Anyway history aside, our enhanced wash plants and additional dredges could finally fill the void missing since Pampana.
If the rainy season ran late so to can the dry season.
THe dredges wash the ore and bring it to a processable form for our wash plants.
They can stockpile this ore and even move it away from river beds to be processed in the rainy season.
Our test plot CC Project should be well underway as well as our AGRI Projects.
The price of gold continues to rise and we could see phenominal growth in the value of gold going forward if analists are correct.
A gold mining company has to produce and to do that they have to get equipment in place.
In our case that has to be at the beginning of the dry season and not the end.
I expect the carbon Market to build momentum once again building up to Mexico this winter.
Our CC's could literally sell any day or may not sell till winter or until the world decides what it is going to do.
The next update has to announce further extractions.
If we produced gold up to Mar 13th we certainly didn't stop after then.
We do know that additional and enhanced equipment was supposed to have come on line since then.
It is nice to see .002's once again but I like many others want to see far prices than that.
For the moment , it was a good week.
eye
L2 Update
1 MM on bid at .0021
2 MM's on ask at .0022
Volume is 9,093,534
Day High is .0023
Day low is .0017
Got to run but .0023's were just hit
enjoy
L2 Update
1 MM on bid at .002
2 MM's on ask at .0021
Volume is 2,293,134
Day High is .002
Day low is .0017
enjoy
We just hit .0021 for new day high
eye