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Bolivar Mining is now off the NAKED SHORT THRESHHOLD list. The 3.23 million share day we saw on 2/20 was probably a lot of naked short coverings. That is good because it removes a lot of counterfeit shares out of the market.
The market has placed a huge premium on companies that explore for REE (rare earth elements). The two small canadian companies that I found, Great West Minerals CA:GWG and Avalon Ventures AVL.V, have market caps 100 times and 500 times that of Bolivar Mining. Let's hope BOLV is still intact.
I have found two small companies that are into REE (rare earth elements) exploration. They are Avalon Ventures AVL.V and Great West Minerals CA:GWG. The market caps are $90 million and $25.8 million respectively. The market cap of Bolivar Mining is $270,000 or $1,800. That depends on a company float of 30,000,000 shares or 207,000. Whichever is the accurate one. The two companies are similar in size and stage of development to Bolivar Mining.
The group that controls BOLV does have a shell company on the shelf that could merge with or take over BOLV. That would force a short covering.
The P/R , which was signed by Mr. Ellis, is clear in stating that the technical team was compensated by BOLV stock for turning over to BMC all the mining projects and providing employment to fulfill the employment contract. All the mining projects would remain with Bolivar mining after the team resigned. Otherwise, there would be a breach of contract should these people attempt to do something with the projects after they left.
Please be careful in the future what you post.
It was my understanding that Mr. Ellis and the other members of the technical team received compensation in the form of BOLV stock for turning projects over to BOLV and for employment. You are bringing up a legal issue that we are not party to.
Mr. Ellis is no longer employed by Bolivar Mining. We are not privy to what the technical team assigned over to the company as part of their employment arrangement. I assume this will be covered in a future PR. Let's hope for the best.
BMC is Bolivar Mining Corp. or BOLV. Some of the background people with BOLV have been involved with big oil & gas projects. I hope to encourage this company to form an oil & gas subsidiary at the appropriate time. The project I am most excited about is the one BOLV is working on in central Georgia.
BMC is trading. Volume will increase as BMC complies with SEC document requests. BMC is an actual mining company. They have what they say they have based on public statements by the BMC technical team before and after the temporary suspension.
Exchange Mobile - EXMT , the sister company, is very close to complying with all SEC document requests. This comes from parties who are in contact with EXMT. The accumulation/distribution line (A/D) and Chaiken money flow index (CMF) are decisively bullish which indicate EXMT is ready to take off.
I have a substantial position in BMC. I have not sold any shares.
This is what happened to Bolivar Mining and its sister company Exchange Mobile EXMT. We as investors need to understand what is taking place by those who are short selling the shares. Does this seem to be what we are experiencing with this stock:
According to spamnation.com they explain the process.
"What's a "short-and-distort" scheme?
In a "short-and-distort" scheme, fraudsters manipulate the share price of a company by spreading negative information about it. They begin by 'shorting' the stock - that is, selling borrowed stock in the expectation that the price will subsequently fall, allowing the stock to be repurchased at the lower price. The difference between the price that the stock was sold at and the price at which it is repurchased determines the seller's profit.
To make the scheme work, the scammers must ensure that the price will indeed fall after they've sold the stock. They do this by spreading negative information about the company, sometimes true, sometimes false.
Speculators could theoretically alternate "pump-and-dump" with "short-and-distort", going through repeated buy-sell cycles, using positive information to drive up the share price and negative information to drive it down....."
I personally believe this is the situation with both companies and nothing more.
Arshad Shah, President and CEO of Bolivar Mining is also President and CEO of Exchange Mobile - EXMT.PK. The later company was also the subject of spamming its stock on the internet. Here is Mr. Shah's response, in a PR to shareholders on August 21, 2007. "Arshad Shah, President and CEO of Exchange Mobile OTC EXMT announced that Exchange Mobile has not been in any way involved in the spamming of its stock on the internet. Neither the board nor the management of Exchange Mobile has approved any of the E-mails sent out in the company's name and any attachments with the company's news releases.
The company also announces that it has not authorized any person or persons, company/s, or any third parties to alter, add or delete any content from its news releases.
Exchange Mobile will assist authorities in any way necessary in stopping these spamming campaigns."
Perhaps, we will see a forthcoming PR from Bolivar Mining stating the same identical thing.
I'm ready for the next run. It's been a while since I last posted on this board. I have never given up. I think the EM-100 is a great idea. So don't a lot of other shareholders who are waiting this situation out.
I would not be surprised, with the hiring of new personnel, that the Northwest oil group is ready to start acquiring some new oil & gas fields in the Saratov area. It looks like they are waiting for some info to come in before announcing the drilling results on the two wells. That info could be about progress in getting the refineries going.
Does anyone know the O/S or public float. There may have been dilution of shares since the R/S. Any thoughts on what BMC will do with their mining properties?
I am also not happy about how BMC or the predecessor company was promoted. The technical team of BMC, when it resigned on 1/29, stated that they brought to BMC "the mineral and exploration projects themselves (except for those within China itself)." The technical team had issues over the practices of the company not the viability of the projects themselves. The direction of the stock price was down after the R/S. All that the excessive promotion did was moderate the steepness of the slide down due to NAKED SHORT or SHORT selling. We will soon find out the direction BMC is headed. The squeeze trigger price to cover the NAKED SHORTS is .04 according to Buyins.net.
Great start after the suspension was lifted by the SEC. I think next week the technical indicators will start improving. This is a great situation for the SEC to look at. The SEC will understand what happens to the stock price of a thinly traded company when traders get together to trash the market value of a company by persistent illegal NAKED SHORT selling. I don't believe the Bolivar technical team understood what was taking place when their compensation package from stock turned nearly worthless. I anxiously await the follow up from Buyins.net on this company.
I am impressed by the improving technical indicators for NWOL. The A/D line and CMF look great.
Buyins.net NAKED SHORT THRESHHOLD list only covers the illegal trading activity up to 1/15/08. On 1/17 and 1/18, it looks like the trading volume exceeded the company public float. I would think Bolivar's legal counsel is looking at the illegal trades, especially on those two days.
Bolivar Mining has yet to make a public statement with regard to the SEC temporary suspension order. I believe the best hope for us shareholders is a merger or takeover from a company that has a technical team in place. We may get a surprise with the share price on February 7th.
Bolivar mining is now listed on Buyins.net NAKED SHORT THRESHHOLD list as of 2/1/08. Evidently, the Security and Exchange commission needs to look into the illegal trading activities of certain traders who shorted the share price down to what it now is.
Does anyone know what the squeeze trigger price is before the short positions need to be covered.
Anyone claiming that Bolivar Mining is a scam should go to the home page of Dr. Robert Cook, Phd. at the Auburn University Geology dept. His E-mail address is cookrob@mail.auburn.edu. His field is ecoomic geology, minerology, and environmental geochemistry. You can also read published articles through the website. I don't believe a person with his credentials would associate himself with scam artists.
Anyone claiming that Bolivar Mining is a scam should go to the home page of Dr. Robert Cook, Phd. at the Auburn University Geology dept. His E-mail address is cookrob@mail.auburn.edu. His field is ecoomic geology, minerology, and environmental geochemistry. You can also read published articles through the website. I don't believe a person with his credentials would associate himself with scam artists.
Bolivar mining will trade on the grey sheets once the suspension is lifted. That is if no market makers agree to the conditions set forth by the SEC to trade the security. One thing we might hope for is a buyout or merger. Bolivar may also be forced to do joint ventures on their projects rather than fund the projects themselves. Bolivar may not be the party who authorized the spam mail that was sent out. Lets hope that is the case.
No panic selling on 1/22. Good finish. CMF and A/D are heading north. Website is probably being updated.
I like everything I read about Bolivar Mining. The management is very agressive in making things happen. As a result, I agressively purchased stock in Bolivar Mining throughout the trading session on 1/18. It looks like there is some good PR coming out in the near term.
I agree. There appears to be a concerted effort on the part of a number of people to distroy the market value of ABV gold. Now that the company is making progress. My first reaction to the article was what was the motive of the author. How many shares is he or his organization short on ABVG. What hedge fund might he be employed by. It is much easier for an entity to write and publish false and misleading information about a company than to cover a large short position.
I think Quest Minerals has huge upside potential. I don't think you will find another coal producer trading in this price range. I have bought stock in this company three times in recent weeks. I believe Quest will next move into oil & gas projects as is stated on their website.
Take what you read on this message board site with great caution. I believe there are people here who may have a financial interest in seeing this company go down.
I purchased stock in NWOL four times during December 2007. I am trying to figure out what I should liquidate so as to make more purchases. I have been investing in oil & gas and mining companies for the past 20 years. In my opinion, NWOL represents the best opportunity I have ever been exposed to.
I am in awe as I read the interview done with the president of the Northwest oil group.
I am a newby to the Northwest oil group. I have been studying this company for over a year. My decision to purchase shares was based on comparing production data for NWOL as compared to other oil companies producing a similar amount. I believe the stock should be selling for at least $10 a share. The political connections is what finally decided things for me.
The latest PR of the Northwest oil group answered questions about their daily oil production. This will increase from 2400 BOPD in 2007 to 3600 BOPD in 2008. The increase is accounted for by projecting 7 new oil wells producing an allowable production of 185 BOPD each. Two to be completed in 2007 and 5 in 2008. The 7 oil wells appear to be developmental drilling wells rather than exploratory wells. The Russian authorities on sight to study the flow rates of the 2 wells to be completed in 2007 may grant an increase in daily allowable production. I believe the wells will all be open hole produced.
I look forward to 2008.
I cannot predict the timing for the next PR. Quest has clearly stated that they are looking to diversify into oil and gas. In their latest annual report, Quest states "Quest management believes that a successful diversification into the oil and gas field would provide Quest with an opportunity to improve its results." Quest management appears to have the know how to do the diversification based on previous experience with oil and gas projects.
Many people have lost a lot of money investing in this company. It would be a shame to sell out and then have Quest issue a significant PR.
All of the market makers on the ask side are bunched up around $1, except for Nite. This hasn't changed during the trading session. I do believe there is a PR coming out from Quest very soon.
Any idea on what the public float is for the Northwest oil group? Would 5 million shares be a good guess. The total A/S is 10 million.
It may be a combination of both shorting and dilution which caused this stock to drop so badly over the past year or so.
I do think Quest is planning to release a substantial news release on their entry into another area outside of coal production. Their latest annual report states they are planning on an entry into oil and gas. The Quest management team has 30 years of experience in oil and gas development and was involved in $60 million in oil and gas development.
It looks like this stock has been shorted to death. Might be a big bounce up after R/S.
I totally agree that the political connections of the Northwest oil group will get them whatever they want.
I believe they are flaring the gas. This is a big problem in Kazakhstan. It appears this company is in the initial stages of developing their oil fields. I would like to know how many drilling locations are available. Also, how many reservours are productive. Might be up to 10 pay zones. I hope they have blowout preventers on sight once the wells are brought in.
I believe these fields have an allowable production of no more than 185 BOPD from each oil well. Even though the wells can produce 2 or 3 times more. The allowable production may be significantly raised once the officials have completed their studies of the wells. The Northwest oil group will be raising daily production to 3600 BOPD in 2008. This may not take into consideration the two wells to be completed this month. That would then give them 4000 BOPD.
I noticed no effort being made to bring pumping units or holding tanks onto the field from yesterday's PR. This may indicate they intend to open hole produce the wells. The wells may have significant enough oil and gas pressure not to need a pumping unit.
I believe there was no fluff in the PR yesterday because there may be oil and gas leases available in the vicinity. Success will usually drive up the cost of the leases.
The political connections of this company are awesome.
Wouldn't the value of the 5 fields increase to roughly $300 million should the wells be commercially successful.
The Northwest oil group is looking to produce 185 BOPD from each well that is being completed this month. That would work out to roughly $12 million added to revenue in 2008 for both wells. Wouldn't the wells be choked back to 185 BOPD each from a much higher number. This is to sustain pressure in the field until the Northwest oil group is allowed to produce more by the appropriate authorities.
The 2 oil wells mentioned in the PR today may produce 200 BOPD each or more once they are completed. The wells may also produce gas. That would add $2 million to their revenue next year. Congrats to the Northwest oil group. Naturally, the equipment would not look good in that terrible wintry weather.
What is the timetable for Drake to get involved in oil and gas development. I like what I see here and will continue to add.
That is very significant news if the Northwest oil group has 12 oil wells that are each producing 200 BOPD on 5 fields. Why haven't they put this information out in the form of a press release? Why isn't this stock selling at $10 per share or higher?