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For those who want to sue, go ahead and sue. And have fun with it. For the rest of us who are not interested in damages he has done but the very distinct possibility Koma will take off in spite of Brian Weber, now is a great time to buy. I'm loading up here for two reasons: First, because the general investor who will invest in this company at the IPO doesn't care one ounce what half of you angry folks have to say on a worthless message board such as this one, and therefore they will invest in the fundamentals of the new company; Second, there is a lot of money to be made in this category and Koma is WELL-positioned to make it.
I think by establishing a new company Brian is admitting BBDA's reputation is not the greatest, and so to start afresh, with audited financials and full accountability, he is going to a different ticker. I applaud him for that.
I haven't read anything here for a few months, and don't intend to read anything else for the next few months. Just thought I'd offer my two cents worth in the midst of a bunch of litigious opinions. Cheers.
The obvious: nothing has changed the past few days to drive the share price North. L2 is still annoying and has proven that no PGRX investors read investors hub, or that if they do they are turned off rather than inclined to invest.
Of real note is the latest PR which mentioned Sichuan (spelling?) is interested in exploring ways they can partner with PGRX. This may not amount to more than an ant hill, or it may be the mountain buyout PGRX has been looking for. The middle of the road scenario is Sichuan puts up major dollars to see the project through and then gets so many of tons of potash free per year.
What I cannot emphasize enough is the risk in this stock. It is risky! Yet there is something mysterious about it: shares sold are being absorbed at a ravenous rate. There is a HUGE, wide-open mouth below the bid, consuming the shares at rapid rate. I don't know who it is, and don't care to speculate, but it suggests to me this thing is extremely manipulated (duh; we all know that), and it will, therefore, rise when the manipulators are good and ready to take it up. And they won't take it up a minute before they are ready, no matter how much pumping L2 does on this board.
Cheers.
Wow...any idea where all the buying is coming from this morning? Major buying coming in yet there is no news.
Clarification of Recent PR from IAG
Below is the latest press release regarding IAG's renewal of their ability to sell shares in order to raise money. I noticed this has sparked some selling on the part of investors after hours, but it should not have sparked any selling at all. Gold has gone up in price after hours, and so has nearly every single gold mining company, yet IAG has dropped a few cents. This shouldn't be. So, since investors are apparently worried about nothing, let me mention a few pieces of information from the press release which should help every IAG investor rest confident that he/she has invested in a very good company which has no plans to sell shares:
1. Notice the words in the heading: "IAMGOLD RENEWS preliminary..." They have always been able to sell more shares in order to raise money. They were able last month, last year, and 3 years ago. But they didn't, and they don't plan to.
2. Notice the last sentence of the PR: "The Company filed this preliminary base shelf prospectus to maintain financial flexibility BUT HAS NO IMMEDIATE INTENTIONS TO UNDERTAKE AN OFFERING." They have absolutely no plans, and not even intentions, to sell shares. The reason they renewed this prospectus is to leave their options open for the sake of timely acquisition in case a lucrative mine becomes available for purchase or partnership.
3. Finally, just so no one would miss it (though it appears many missed it), the PR says, "This filing is a RENEWAL of the Company's EXISTING base shelf prospectus THAT WAS NEVER DRAWN ON." Long story short, since this renewal lasts 25 months, 25 months from today we can expect the exact same press release with one exception: it will be dated 2015 rather than 2013.
Hope this helps; I'm sorry to those of you who sold your shares. You might want to buy them back ASAP if you sold solely on the basis of this PR.
IAMGOLD renews preliminary base shelf prospectus
TORONTO, July 22, 2013 /PRNewswire/ - IAMGOLD Corporation ("IAMGOLD" or the "Company") today announced it has filed a preliminary short form base shelf prospectus with the securities regulators in each province and territory of Canada, except for the Province of Quebec, and a corresponding registration statement with the United States Securities and Exchange Commission. These filings, when made final or effective, will allow the Company to make offerings of common shares, first preference shares, second preference shares, debt securities, warrants, subscription receipts or any combination thereof of up to US $1 billion during the next 25 months in the United States and Canada, except for the Province of Quebec. The net proceeds from any such offerings may be used by the Company to fund on-going operations and/or capital requirements, reduce the level of indebtedness outstanding from time to time, fund capital programs, potential future acquisitions and for general corporate purposes. This filing is a renewal of the Company's existing base shelf prospectus that was never drawn on. The Company filed this preliminary base shelf prospectus to maintain financial flexibility but has no immediate intentions to undertake an offering.
You guys are funny. I'm long here, but as of yet there have been no major dollars flowing into this thing. Only $150,000 has changed hands all day long. If you want this stock to go anywhere, quit pumping. If you want to annoy people to death until they leave and put a lot of selling pressure on the bid, then keep pumping.
L2. Millions of dollars of funding does not happen in one week. Give this thing some time. I'm afraid that with all your pumping you're setting not only yourself but also others up for disappointment. If you want to be a positive influence upon this board, and I think you do (given how heavily invested you are), then you might do well to stop pumping every 15 minutes. Cheers.
This is the kind of news which draws attention from others. In most stocks buyouts are a dream, but with the Pre-Definitive Feasiblity Study results as public knowledge, a buyout for PGRX remains a very distinct possibility. In the very least, I think they attract some major investors and the share price rises accordingly. I dislike pumping stocks, so I'll be the first to tell you this stock is risky, but this stock has the most potential near-term (1-6 months) upside of any I own. Cheers.
Prospect Global Resources Inc.'s Pre-Feasibility Study Endorsed and Supported by Sichuan Chemical
40 minutes ago - DJNF
China's Third Largest Chemical and Fertilizer Manufacturer Maintains Enthusiasm about PGRX Holbrook Project
DENVER--(BUSINESS WIRE)--July 22, 2013--
Prospect Global Resources Inc. ("Company" or "Prospect") reports that in response to the recent release of its Pre-Feasibility Study results, Sichuan Chemical Industry Holding (Group) Co., Ltd. ("Sichuan Chemical") has responded with its endorsement and support. Xiaojun Chen, Chairman of Sichuan Chemical's Board of Directors, stated, "We have been major supporters of the Holbrook Project from the very early stages of its development. We support its new management team and their incredible work in redesigning the mine and processing plant. The fundamentals of the project remain solid and continue to improve. As such, Sichuan Chemical is excited about its continuing partnership with Prospect Global Resources and we are exploring ways in which we can make the partnership more comprehensive."
The Company continues to develop the strategic partnership with Sichuan Chemical, China's third largest chemical and fertilizer manufacturer. Damon Barber, Prospect's President and CEO, said, "We are very pleased that Sichuan Chemical remains excited about its partnership with us and look forward to continuing our work with them to refine the relationship. We appreciate the confidence they have in our potash project and their interest in potential future collaborative efforts to further our development."
Ah, at last. The melodious, soothing sound of silence. Now some level-headedness and careful thought can prevail over the incessant noise of someone who bought too many shares in this risky endeavor. Cheers.
I've got to hand it to you L2, you are persistent. Some might call you annoying, and they might be right, but you are also persistent! Apparently you have much invested here.
While I am not overly invested here, you bring up a good point when you speak of buyout information. The Pre-Definitive Feasibility Study most recently conducted and released was nothing more than a marketing tool to attract major investor interest. Either PGRX will attract those investors and build out the mine on their own, or they will attract a mining corporation with some capital to buy them out, build out the mine, and start making good on the 2 billion dollar Chinese contract PGRX has in hand. I don't know that such news will come out at the luncheon on Monday, but the pre-feasibility study certainly makes PGRX a great buyout candidate at any date in the future. I would not at all be surprised to wake up one morning and read a PR which says someone bought PGRX out. The other lucrative alternative for shareholders is some major investors buy in and drive the share price North. I think this is a distinct possibility as well. There will be no announcement and no warning. Rather, the share price will just start creeping Northward for a few days, even weeks, as the investor(s) slowly buys in. Patience here will pay. The market makers make money off those who are impatient. Wait out their games until the prices rises. Weeks will reward; days will ruin.
Now is a great time to be in PGRX. Cheers.
For what it's worth, I spoke to Brian Wallace, the former COO, and he said the project is anything but a scam. He said the project is "legitimate" and even he, then no longer an employee, had lots of shares in the company which he did not intend to sell. PGRX may be a bad investment, it may be a high risk investment, and it may even be buyout potential investment, but it is most certainly not a scam.
I'll grant you that...now is a great time to be in rather than on the sidelines. The senior debt amendment provided a floor; the pre-feasibility study provides validity; and now, at any given moment, unannounced, there may be a buyout. I am very skeptical of buyout rumors and news, but the fact is the pre-feasibility study makes PGRX a great candidate for a buyout. It also makes PGRX a great candidate for huge long-term gains in developing the mines. Time will tell. Great to be in.
L2. Your enthusiasm for this stock is obvious, but it is also a little misguided. 400% gains will not come from news on July 22. In fact, there will probably be no news from the July 22 luncheon. What there will be is an increase in buying which comes in surges as newly interested investors buy into the company.
Keep up the enthusiasm, but don't be surprised if many of us get tired of reading your pumping posts. Due diligence, not pumping, would be far more helpful for this stock.
Syrinex, you are right on. I'm glad someone actually gets this! The luncheon has nothing to do with a R/S but has only to do with fundraising and getting people on board with the program. Between now and August the share price should start appreciating. I am excited about what lies ahead. Cheers.
For those who have been with this stock a while ( I just re-entered yesterday; been bouncing in and out the past 6 months), times like the ones we are in now are a great opportunity for a run-up. Everyone must trade as fits their own needs; I intend to wait 3 weeks to see what kind of catalyst the luncheon and the most recent pre-feasibility study are during those weeks. Cheers.
Luncheon on the 22nd, this coming Monday, will be a good day for PGRX. Some on this board want the share price to double in one day; it isn't going to do that. But it might double over the course of one month.
Patience will pay here; Damon Barber will spend his time raising money from sources other than the shareholders. He has two years to do it and it is what he does best. For those without stomachs strong enough or without patience thick enough, you might want to get out now. For the rest, good times ahead. Look for a slow steady march Northward. Weak hands are out; stop losses have been triggered. Shares are in stronger hands. On we go. They just performed the oldest trick in the book.
PGRX will advance North in due time. The pre-feasibility study is not meant to attract small-time investors like us, but larger investors who have $500,000 or more they might be willing to invest in this company. And when they come the share price will move upward in surges.
The senior debt amendment put a floor under the share price; we've already seen the floor. The pre-feasibility study has now provided a solid reason to invest. Sit back and wait; these things take patience.
Good advice. I would add one caveat: gold may or may not be back below 1200 in the coming months. Physical supplies are tightening up and the economy still needs artificial supports from the feds to prop it up. I'm not recommending anyone be a bagholder here, but there is a strong possibility this thing runs for 2 months, into late September, and then cools off for a while. The economy is not recovered; the fact that the feds have to keep propping it up proves that. Take a wild guess what that means for the price of gold in the next 2-3 months?...and tack onto that the usual seasonal run-up which occurs right about now most years. We have a Northbound catalyst for the foreseeable future. Profit takers will hit first thing this morning, and then up we go.
Get ready for a run up into the mid to upper 2's (even the 3's if really bullish) by mid to late August, into September. The economy isn't as stable as it was made out to be (no surprise), and the dollar is going to continue to be artificially propped up by bond-buying stimulus. Therefore gold and gold mining stocks should see a consider run-up, gaining back the ground lost in June, and maybe even gaining back the ground lost in April. With Bernake's comments today, the gold market turned bearish from now until such time in the future (end of the year?...maybe October at the earliest) as the economy is stable enough (if it ever becomes stable enough...) for the feds to scale back the artificial stimulus. Until that day, if it ever even happens, we have happy sailing North. Cheers all.
It is impossible to predict the future price action of a stock, but with Joe I agree on this one. I don't know the level to which it will drop, but remember that a stock's price action is based on investor sentiment (emotion). The fact that a vote on a Reverse Split looms, and the fact that it may happen sooner rather than later, will keep this stock from seeing much green in the coming days and weeks. I would not be at all surprised to see this thing in the mid 20's. I am not in charge of the stock price, so it is not my fault if it drops, but some very simple and basic factors which some on this board refuse to acknowledge will serve as a negative catalyst in the not to distant future. Cheers.
FYI: Keep in mind this may be a notice of de-listing. If so, the price will plummet. No one can know as of yet what has become effective, but this is extremely risky at this point. De-listing can come at any time at this point. FWIW.
I fibbed...here's another question: Are there any expectations for the Q2 earnings call, either positive or negative, and if so, how drastic an impact will that call have on the share price? TIA.
Thank you; very helpful.
Thanks for responding. One more question. What are the advantages/disadvantages of investing in RIC vs. investing in HMY or NEM? Are they each about the same investment, or would one be much more profitable than the other (all things considered equal in the gold market)? Thanks in advance.
If the price of gold turns back up, will RIC track back upward with the price of gold, or are there circumstances which will prevent it from moving up?
I read on the Yahoo message board that the technicals of RIC are so bad that it will impossible for the share price to rise above $2.30 in the near future. I don't think the person who wrote that is correct, but could someone on this board debunk what he wrote? I would greatly appreciate it. Glad to be here.
Just started a position in this company today. It appears some shorts have covered due to the price of gold, and it also appears the price of gold may stabilize in the short term and turn upward in the long term. We'll see what happens.
I've read up some on the company. Does anyone have any information to offer about near-term catalysts which may affect the stock negatively or positively? TIA.
You're not scaring me. I've done too much due diligence and have talked to too many people "in the know" to know better. Your games may work on others, but not on me.
Truth is, the bottom is in. Yesterday's news established that. Consolidation will happen for a while and then we go. Some will be scared into selling at these low prices, but that happens on every stock. All people know that if you want to make people sell, then you drop the share price a ton and leave it there for a while. Plenty of people will panic sell. And when they are done panic selling, the price will go up. Welcome to stock trading 101.
Seriously man, this is anything but a scam. If you want your words to have any validity or impact, at least tell it like it is. This is a well-known, legitimate project in which many people have put their millions. It is anything but a scam. If you're trying to get some cheap shares, just buy in. Otherwise, please stop the antics.
Shaking out shares. It has worked well so far as many have sold for little profit, and many have sold for losses. When they are ready for this thing to spring up, it will spring up most definitely. Bashers like jt#### are able to benefit in the meantime, scooping up cheap shares sold into their hands by those they scared. Making money requires patience; the impatient lose out on plays like this one.
Yes. They already know the product is in the ground; they already have a contract to sell the product. Now what they are doing is working at getting it out of the ground. The PRE-Definitive Feasibility Study is sort of a foregone conclusion. Management already knows there is a ton of potash in the ground; the studies are in many ways nothing more than a third party verifying to the general public that the mine is worth your investment. And as far as dilution goes, there is no reason for the company to dilute anything more until the PRE-DFS comes out. Therefore, there is really nothing but positive catalysts between now and August. Cheers.
I'm not here to pump this thing up beyond what it is. There are indeed risks here, as there are with any stock. But a level-headed look at this thing reveals there is now a bottom, and we have some time, and Damon Barber can do what he does best: raise money and turn companies around unto profitability. Everyone must make their own choices, but the fear factor in this stock has largely been removed. Now it is a matter of patience. I am giving this at least a few weeks, and probably through mid-August.
There is not a specific day. They just said they plan to release it in July.
With the announcement of the PRE-Definitive Feasibility Study, I think it could go all the way above $1.00, and I think that is managements plan. I think in the short term we rise and settle at .19-.23, and in the medium term we rise to the lower 40's. By September I think this could be back above $1.00. Time will tell.
Damon Barber is well connected in the banking world, so connect a few dots. He is not here to fail. He is one of the greatest assets PGRX has.
FWIW, I've been in and out of PGRX for a few months now, and one of the things which encourages me is it is legitimate. I spoke with one former employee and he said the company is very legitimate, and all Damon Barber needs is some time. When I spoke with him, they did not have much time (weeks) to raise money. Now that problem is solved. They have time. It will take folks a little while to realize just how big yesterday's announcements were, but they were big. And one more thing: the officers, and even a former employee, are the most heavily invested, and they have all remained invested! I've been waiting for announcements like the ones we heard yesterday. I'm here again because of yesterday's announcements. Bottom is in. Cheers.
I believe they have until October to remedy the situation. And if I had to take a wild guess, having talked to them on the phone, the PRE-Definitive Feasibility Study is what will be the catalyst to take this back North of $1.00/share, either by investor interest or buyout possibilities.
It looks like a lot of the flippers and weak hands are gone. When they are done being scared by bashers and the profit-takers are finished taking their small profits, the price will rise gradually but surely. Right now this is excellent consolidation; it builds investor/trader confidence.
Check the date on the Definitive Feasibility Study. They don't plan to release it until well into 2014. The next catalyst for this stock is July (one month away) in which they plan to release the PRE-Definitive Feasibility Study (PDFS). No doubt they have to raise some money by next year, but the pressure is off now. Damon Barber can raise money well. He just needs time, and now time is what he has. And once the Pre-DFS is released, this thing will really take off again.
The senior debt has been amended. They now have two years to focus on raising money through other avenues. PGRX is actually in a very good position now. The pressure is off.
Consolidation and accumulation will be the name of the game today. Uptrend will be in the coming days. Patience here will pay.