is close to bankrupcy
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I too, heard the interview. He is very bullish about his recent MOU with FMNJ. As he mentioned, they will work as JV partner with FMNJ.
All his excitement apart, why Mr. Petty did not even slightly mention PRRY in his latest memo?
"surrender their shares in favor of ownership????" Do you actually understand what ownership of a public company is?
No I do not know. Can you explain for the benefit of this board?
There are lot of buyers at 0.0001 and lot of seller at 0.0002. If u are desperate to sell, then you can do that at 0.0001.
If u ask me I have no desire to sell before it is at least 0.001. If that means to be a bag holder, then be so, who cares after losing 95% of value already.
Completion of remaining two studies require $43,000 and $800,000. After then production can start at Escala. Mr. Petty says that he is already in negotiation for these funds. I assume that he is going to sell 34B remaining shares of his targeted 100B A/S. That way he can generate $34M at present prices. Those should be enough for these studies and putting Turiri mine into production and still some will be left for starting the production, provided the process does not take ages to bring Escala to a production.
Interesting disclosure is about the existing big share holders willing to have a %age ownership of the company. Does it mean they have to surrender their shares in favor of ownership. If it is what I understand then there is a possibility of tens of billions of O/S being eliminated from the market.
Another thing Mr. Petty has re affirmed that he has no plan for dreaded Severe split. In short it is a good update and lot to be discussed.
No time line for completion of the following two studies beofore operation at Escala can start.
"Phase II is the completion of two additional studies requiring an estimated budget of $43,000 USD … I am presently negotiating to begin Phase II and will announce those details as soon as possible.
Phase III’s sampling, testing, analysis and evaluation must then be completed
based on Phase II findings: it is estimated that Phase III will require an
$800,000 USD budget … these funds, too, are presently in negotiation."
I read whole memo. It seems as if it was in reply to my email to Mr. Petty. I had requested to share the findings of Dr. Biste. Anyway it is a detail memo and contains some hopes and a t the same time a bad news of A/S going to 100Bilions. Being in square hands and then promise of buy back from the open market are some thing those mitigate fears of unknowns.
The most encouraging paragraph is about the the Biste report and that is as follows. Mr. Petty writes,
"The most important thing I can – at this time – share with you is that Dr. Biste’s audit confirms what our staff engineers and geologists have told me for two years: the Escala has a “good” possibility of “great” mineralization.
While it cannot yet be proven, Dr. Biste believes that some, if not all, of the Escala’s vein structure is the same as that which has been successfully mined in other nearby operations. And if this is the case: the Escala is, potentially, a large and possibly a very-large mining operation."
With this I'm going to bed and can sleep for another year until Petty is successful in completing the Phase III of the mine evaluation. Good luck
I don't know what I should write in response to your post. Look like u have had too much of brandy. Your post is addressed to some body, Mr. Westgarde...and supposedly misdirected to me.
Any way I can feel your pain and suffering b/c of this lawless Pinky land. The only consolation is that FMNJ is still trading and alive and sincerely hope it does not shut door on us. Loss of hope will be devastated for some of us who are deep into this. Virus, of desire to become millionaire quickly, is going to have a lasting affect on our lives. People come here to hunt but in the process get hunted. That is life and some dared to take risk and majority vanish in the process. Who knows what is store in future for us. There is a chance of life time to become filthy rich and all ducks fall in line for every one of us here. Good luck
I just want to remind Mr. Petty about his promise to share extract of Dr. Biste report, after it is reviewed by FMNJ's internal and external consultants. May be consultants have not yet finished reviewing and will never do so. May be it is clear now.
Good question. I tell u I have nothing worth to ask him. I have not yet come up with a right question. But any way I can ask him one and only question and that is about Biste report, why he has not shared the content or part of it with investors as promised. I will send this question today and will share with the board, any reply I will receive.
'the cork' until u have seen Biste report, how can u say, Escala is a world class deposit of Silver?
Roubini: Huge Asset Bust Ahead
Thursday, November 5, 2009 8:16 AM
By: Julie Crawshaw Article Font Size
The stock market rally was helped by a wave of liquidity from near-zero interest rates and quantitative easing, says economist Nouriel Roubini — but what’s really fueling this asset bubble is the weakness of the U.S. dollar, driven by “the mother of all carry trades.”
"Traders are borrowing at negative 20 per cent rates to invest on a highly leveraged basis on a mass of risky global assets that are rising in price due to excess liquidity and a massive carry trade," Roubini writes in the Financial Times.
"Every investor who plays this risky game looks like a genius — even if they are just riding a huge bubble financed by a large negative cost of borrowing — as the total returns have been in the 50-70 percent range since March."
Reckless U.S. policy that feeds these carry trades is forcing other countries to follow suit, Roubini observes.
“Near-zero policy rates and quantitative easing were already in place in the UK, Eurozone, Japan, Sweden and other advanced economies, but the dollar weakness is making this global monetary easing worse,” he says.
If the U.S. dollar’s steady fall against other major currencies continues the repercussions for the U.S. economy would be significant and could include inflation, higher interest rates, and a lower standard of living, says economist J.D. Foster.
“Perhaps most worrisome, the slide in the dollar risks becoming a rout that could trigger another global financial crisis,” Foster writes at the Heritage Foundation Web site, heritage.org.
© 2009 Newsmax. All rights reserved.
THERE ARE OTHER TICKERS TO TRADE,
I hope moderator will not mind it, if you shares, those tickers with starving buddies on this board. Hahahahha We promise to invest some of the profit in FMNJ.
Thank you got it. Sorry for late reply. Was away.
Thanks.
Me too. You have may email....
Going for equity as against debt financing was a prudent advice, that I believe can only come from no other then top banker like Rothschild. That strengthen my view that he is sincerely backing this company. Plus engagement of Dr. Biste is a step in right direction. These give some consolation that things are moving in right direction. Otherwise many Pinkies just goes underground and dead silent under prolonged financial troubles like these.
As of today no body knows what is going to happen next week or next month or year. It is hard to keep lid on frustration.
Although I still believe Petty will keep his promise to not to RS.
However once RS done, the SP will soon go, with lightening speed, to where it is now. Only insiders will be able to sell at the higher price after the split. That is what happens so often in Pinkies. May be Rothschild and Petty will make big money since others insiders do not have many shares.
Aeroports de Paris Unit To Do Studies For New Iraq Airport
http://online.wsj.com/article/BT-CO-20091102-708655.html
Eni Signs Pact to Develop Iraq's Zubair Oil Field
http://online.wsj.com/article/SB10001424052748703932904574511083555847714.html
Hope much more good news are in store. Good pressure is building here and push IQD rocket to several pennies soon. JMO
To me both IQD and FMNJ are due. Commodity run will push both of them up up up up...
I'm waiting to retire on my ever big investment in FMNJ. May be your golden touch will make it faster. Who knows?
That make me comfortable to be in this with you. SRSR must have lot of people millionaire.
How about IQD? Have u got your CEO into this too?
You must be lucky I'm stuck up with my profit b/c I was some how convinced about his far fetched scheme for salvation of Amazon logs.
One should credit him for his rich imagination. These type of people are not born every day. Hahahahahhha
What ever the investment I sank in this, it was my decision and I love my decision like I love my children. I will not be instrumental in the demise of this until all the doors are shut for good.
My friend there is no remedy for your suspicions and doubts. Doubts is poisonous and a mighty army can be defeated by them. Since I'm a part of this army of 'fools' but still I will not try to sink this ship by raising doubts about every thing. I'm here to give benefit of doubt, for the sake of all those who including myself, some how sank their hard earned $$$s into this pinkie. IMO
Very interesting. Please don't be discourage, not discarige b/c it seems like miscarriage here. Hahahahah
'sortagreen' You should not doubt good doctor's integrity. There is no reason to doubt until proven otherwise. I'm sure he is not any Doctor, who will be ready to sacrifice his professional career, for a Pinkie like this.
You mean even $30 worth of trade has maintained the price @ 0.0002. Seems like Petty is finished with 0.0001 and there are not many to pay 0.0002 as of today. However as soon as any news is released, buyers will have to come forward and buy at whatever price is asked. Hope I'm not day dreaming.
But I wonder when extract of Biste report is made available to general public?
"This guy needs a jail cell right beside RUFUS!"
You have refreshed painful memories.
What a reference? Is he really in jail? There is no indication of such on CSHD board.
Let us hope u are right and this train moves out of this junction for good.
"i dread the thought of what news will be released tomorrow."
Do u expect news tomorrow and why?
'wazup' Thank u finding this PR to explain that GDR Privee belong to the famous Rothschild family.
'imanjen13' I'm one of those who bought in very high and in the process of averaging down find myself deeply in red like dozens of other veterans here. Some are calm like Mart while others are frustrated like Sorta and there are those who are in between like myself. Who else will like more to see some good news?
People write lot of things against Petty and they actually do not mean that. It is only to show their frustration and who can be the better target then Mr. Petty.
Start ups are always challenging and when you invest in them you actually are taking extreme risk. Only consolation for me is that he is still alive and fighting in very adverse conditions. We are sitting in our comfortable homes and criticizing some one who is there in far off God forbidding land along with our moderator trying to make us millionaire. If he spend some time with Coochi Coochi Girls to cheer up his mood we should not mind that. Mind it it is always the commander in the battle ground knows what odds he faces and how better he tackles them.
“When Roger Blin asked him who or what Godot stood for, Beckett replied that it suggested itself to him by the slang word for boot in French, godillot, godasse because feet play such a prominent role in the play. This is the explanation he has given most often.”[4
But 'Good Doctor Biste' is real human being and an important actor of this play. Can't see any connection. Any way nice pass time till report is out.
Who is Godot?
Some body who want to know how important our company is in the game played on the global stage should see the following video. This family does not get involve just for fun. They mean business and do it strategicaly with invisible hand. That is why I say Mr.Petty is only the front man for this banking empire. No need to agree with me pl. JMPO
I was asking that to lift the spirit of the corps here.
'Royalflush1' When we will see Biste report? If that is a bankable document,as I'm sure it should be. That is the reason Rothschild is coming out to secure funding from his contacts. But we need some glimpse of the report as promised by Mr. Petty, to make us comfortable that all this PR is not a repeat of play broadcasted before.