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I hold small position of JNUG (3xGDXJ) protected by covered calls. By selling OTM calls one can significantly reduce risk, although... significantly cuts upside potential too. My usual target is ~ 25% gain in 1-2 months or... if calls expire worthless I will sell new portion of calls reducing the risk even further. Not perfect strategy but somehow let you sleep better.
Actually, this is a good illustration to my post. I envy your enthusiasm. Go ELGL!
Not trying to intrude, but that's how private businesses do reverse merger with public companies: they find clean shell and buy all or "almost all" of it's shares (leaving some for old insiders). The price for non-reporting pinky shell is somewhere in $100K-$200K range. ELGL is dirty with bad history, but let's assume some fool paid $200K for all ELGL shares. There are 170 mln of them if you believe these numbers (I don't). So, every share is worth about 200K/170mln =~ $0.0012. And that's under fantastic assumption that ELGL is clean (look at its awful history) and somehow attractive comparing to hundreds of clean shells available for RM. So, some real private company with all its "billions assets" is ready to jump into the bucket of dirt just to be listed on Pink Sheets? When clean OTC reporting shell can be bought for $200K-$500K, or less w/o all these troubles? No way! This can only be the "merger" of two equally dirty entities with the purpose to milk gullible shareholders as long as they can. ELGL is not the first, and it won't be the last. Actually, insiders don't need higher share price, which is already well above it's value $0.001. All they need is big bid volume to dump their worthless shares. BTW, have you noticed that even with current low volume trading the number of shares at the ask is always 5+ times greater then demand (bid)? There is unlimited supply, just not enough volume to make insiders happy.
Of course, you think that "this time is different". Good luck with that. Most enthusiastic ELGL "longs"don't think so, and will join insiders during the first pump rally. You won't see them posting in a month. They will discover another "multi-billion gem".
Because it's basically the same crew imitating M&A activity. I remember when Markray Corp. (RVBR) suddenly claimed owning similar Russian "assets" they said they have nothing to do with another pinky AURC, which was just relisted. But they kept posting PRs sent from the same team with AURC email address.
BTW, we all know that ELGL management follows this board and (IMO) now they are thinking how to present those multi-billion assets to shareholders. Every reference to Russian industrial dumps will be debunked immediately. They would need to prove legal ownership (they don't own those local private businesses) and present valid value estimates (which is zero). So, I think they would want to bypass "multi-billion" terms. For example, in today's PR they are talking just about " substantial assets and business operations". It's the first step. Then you just need to drop "substantial" and "assets".
Sales of Halloween masks point to ominous prediction for Hillary Clinton
"As candidates, pundits and supporters boast about and feverishly agonize over polling numbers in hopes of predicting the next president, perhaps their attention would be better spent checking receipts at a local costume store. Dating back to Richard Nixon's presidential run, the candidate whose Halloween mask sells the most is far more likely to win the election.
If that trend continues, Election Day could be frightening for Hillary Clinton voters. According Savers/Value Village, Donald Trump masks are outselling Clinton masks by 7 percentage points, as the Deluxe Trump mask's sell-through is at 76 percent while the Deluxe Clinton masks are selling at 69 percent."
http://www.aol.com/article/news/2016/10/24/sales-of-halloween-masks-predict-donald-trump-will-beat-hillary-clinton/21589531/
Yes, I should say "I believe he is telling truth." My next "belief" is that Clinton's victory (and it looks like done deal now) will be bad news for gold bugs.
Central Bank Austria Claims To Have Audited Gold At BOE. Refuses To Release Audit Reports And Gold Bar List
http://seekingalpha.com/article/4014144-central-bank-austria-claims-audited-gold-boe-refuses-release-audit-reports-gold-bar-list
Nobody denies that Assange is telling truth. It's just proved that his recent "truth" comes from Russian Government sources. The least the US authorities should do is start telling the truth about Putin and his criminal group. Actually, Kerry threatened to do this, but... our administration is too shy and politically correct. We have very bad Presedential choice this year...
Actually... even if "there is no hidden short position" what the companies with Russian assets often (I mean always) do is: they sell millions unregistered (nonexistent) shares to the public. The first sign of such a behavior is when the management instructs it's transfer agent to hide information about company's share structure (number of outstanding and authorized shares). This allows insiders to print shares "as they go". And, guess what? I've just called ELGL's TA, Transfer Online, Inc. (503-227-2950). "We are not allowed by the company to release this information to the public". Another red flag. Like we need any more.
"The analysts said that they expect gold to average $1,180 an ounce next year, with prices falling to an average of $1,100 in 2018."
Actually, those numbers don't look too scary for those who hold physical gold. I wouldn't be surprised to see $1,180 even this year.
Gold Bull Market Over; Prices To Fall In Next Two Years - Natixis
http://news.metal.com/newscontent/100701436/gold-bull-market-over-prices-to-fall-in-next-two-years
Some alternative view...
THE TOP FOUR PRECIOUS METALS: Which Will Be The Best Investments During The Next Financial Crash.
Interesting article with many charts:
http://www.silverseek.com/commentary/top-four-precious-metals-which-will-be-best-investments-during-next-financial-crash-15977
Unfortunately, Mrs. Korogod is too busy and can't respond:
http://investorshub.advfn.com/boards/seeBans.aspx?boardid=5106
Please show us where Clarinova claims to have "the property rights to the Metal waste land in Russia". As I see, it says: we "invested" in Russian assets and refuses to clarify what kind of "investment" it was. These waste dumps in Russia (leftovers from USSR industrial chemical giants) were acquired for free by local private companies with environmental obligation to clean them up. They worth nothing. There are examples when US company (like StarGold) "acquired" the same "assets" and then returned them to Russians stating that they are worthless. This is not "rumors". Just check the links to the multiple documents I posted before. You may need to use Google Translator.
Bottom line:
a). Russian assets are actually liabilities. The same "assets" were successfully sold to multiple US pinkies before.
b). Registered in US corporations never legally owned these "assets". They always belonged to private Russian companies, interested to sell the air to gullible American investors.
The only part of your post I agree with is that this is a "gamble". Many pinky scams, even officially dissolved and nonexistent, managed to rally as a result of iHub pump supported by companies fake PRs. Why would ELGL be an exception?
You did not answer my question: why would they invest in Hollywood laundry (that's what RVBR is according to recent documents)? Why not Google or Microsoft, or... GazProm? What is so special about this tiny business in California?
"Russian girl with Canadian roots" Actually, it was from Canadian girl with Russian roots.
Why would Russians be interested in California Laundry RVBR? You will be surprised, but they have laundromats in Moscow...
We just need to remember it's not a "normal" merger. We are talking about reverse merger, when one pinky shell completely changes its outfit and lets another business to go public. Basically Element Global Mining Group acquires ELGL and gives it a new life. It happens often without any SEC or FINRA approval. Pinky games. For example, just recently RVBR (Markray Corp.) which also pretended to own multi-billion reserves in Russia suddenly became California Laundry. All 9-digit dollar amounts in fake financials just disappeared w/o any explanation..
Actually, all my posts on penny stock boards prove that they are scams. I hope your TA "teaching" is based on more careful analysis of material you talk about. My "technical skills" are high enough to not try to make money on my fellows iHub posters using other people's tools for free advertising. I can only guess what kind of knowledge you can transfer: how to cheat and violate iHub TOS, etc.
The Fed may be preparing for the unthinkable — negative interest rates in America
by John Mauldin
"...Yellen Is Ready for NIRP
I don’t think Yellen will take us down to -9% like the model in her footnote describes. I do think she is mentally prepared to go below zero if she sees no better alternatives that fit within her economic philosophy. I feel very confident she and her colleagues won’t take rates much higher from here. I think we will see 0% again and then lower before we see +2%.
Look, a recession is coming. This recovery, feeble as it has been, is already long in the tooth. I think we have the real potential to enter at least a mild recession no later than the end of 2017 triggered by events in Europe. What will the Fed do then?
They are making those plans right now. If you think 2008–2009 was a wild ride, then fasten your seatbelt. The next crisis will be even wilder...."
Full article: http://finance.yahoo.com/news/feds-janet-yellen-mulls-negative-interest-rates-183711629.html
Interesting. But I would guess that, unlike those long term trends, there is a strong negative correlation between announced value of interest rate hike (0.025, 0.05, etc.) and change in gold price next couple of days following announcement. Which would mean that after-announcement drop is usually a good entry point for long term investors.
Current Delaware tax standing for Markray Corp (Universal Garment Wash and Dye Laundry)
Description Amount Due Tax Year Due Date
Overdue Tax, Penalty and Interest $110,199.60 2016 Past Due Date
Have you ever tried to contact Clarinova and ask what exactly does it mean: "In 2014 Clarinova invested in non-ferrous mineral reserves Certificate 0013-0017.pdf located in the Chelyabinsk region near the city of Karabash in Russia."? How exactly did they "invest"? Bought the licence or shares? Acquired the owner (ZabaykalGeoProm")? I have tried - no response. Very fishy if you ask me.
It takes some time to figure out how it’s possible that a poster seems to know inside details about company’s management, content of the coming PRs, etc. but has no clue about specifics and legal issues of the business when company works with foreign subsidiary or JV, assessment of foreign mineral assets, etc.
Well, now I understand – too many stocks and not too much time to dig into the details.
I do not work for the company or the lawyers who represent them,
I do not work for the shareholders, or those on here posting spam.
I do not work for Merle, as HE is the biggest scam
I do not like that Ferguson clown, but this company is NOW NOT a scam.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=124833466
You missed something here:
I was paid 250,000 shares of ****…
I don't work for free, or out of the "kindness of my heart", but technically, that's what I'm doing right now…
Borders Consulting Services, LLC was created at the advice of my CPA, with regard to the overall liability of a corporation vs. LLC, specifically with regard to working with publicly traded companies…
I do what I do by the book, and always have, and I'm COMPLETELY transparent…
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=123514691
So, you are a contractor paid by the company(ies) to promote their shares on message boards. Do I believe that you bought 50K shares of ELGL today? http://investorshub.advfn.com/boards/read_msg.aspx?message_id=124888120
Not really, I believe you were paid to say this to encourage “innocent souls” to follow your example (real or fake).
Just to let you know, you have been violating iHUB TOS all the time. You should register with iHub as Investor Relations Professional, your alias will be marked with proper image/label, and you will sign all you posts with signature-disclosure: “I was paid by the company to promote its stock…”
Unfortunately, it doesn't work sometimes. I can name at least a couple of stinky pinks with "Russian assets" that were officially dissolved but their tickers are still listed on Pink Sheets, and new groups of pumpers try to run them on "news coming by Oct. 31".
This Aussie miner is paying its dividends in gold
Is cash still king? Investors in a junior Australian miner may soon have to decide.
The ASX-listed Resolute Mining said shareholders who hold 5,000 or more Resolute shares can opt to receive their dividend payment in gold through a personal account held with the government guaranteed Perth Mint.
http://www.cnbc.com/2016/08/30/australias-resolute-mining-to-pay-its-dividends-in-gold.html
I think someone needs to go in Russia to see the gold pile :)
Let me surprise you – someone already did. Everything is here, on iHub, if one really needs to know. The poster 2create was the “founder” and moderator of many iHub boards for companies invested in Russian assets. Just like you guys he was yelling at “negative posters” and “naked shorts”. But, unlike you he really believed in this business model. And it did look attractive at that time before everybody realized that “naked shorts” are nobody else but Russian insiders who were not just selling their shares on every pump PR, but listed stocks in Frankfurt (Germany) with its relaxed shorting rules and less control.
Well, at one point 2create and his Russian speaking wife got invitation and went to Russia to prove and show all naysayers “gold piles”. They visited several Potemkin villages (google if you don’t know what it is), even created 4-part video which you can still find on youtube, I believe. Then he came back to America, said that “this is a mafia” and “I am scared for my life”, removed his alias from all boards, and disappeared from iHub.
I can actually tell you many stories like this: about one enthusiastic poster, who was promoted by Russian company for his attitude and became Vice President of Aurus. You still can find his picture on AURC site… Now he is hiding somewhere in Florida… in real estate business… trying to recover his AURC losses.
Etc, etc.
Don't get me wrong. You can make some money on this. The stock will run on any empty PRs, they always do. But if you are here for "ten years" like someone suggested today then... sorry.
The point is the tax is overdue They use Delaware registration as a cover to be able to sell fictitious Russian assets to American investors. Patented way of doing business for scams like this.
Did you check their tax records with Delaware?
First, one needs to understand basics of doing business in Russia to see how really funny those “certificates” are. Buryatia is a remote region in Siberia with 50% of indigenous population barely speaking Russian. And suddenly two small private companies: ZabaykalGeoProm (~$450 startup capital) and Mahanaga (~$155 startup capital) “produce” certificates written in bad English that none of them really understands, and which wouldn’t be recognized by any local or Federal authority in Russia. The only place where they are recognized is iHub message boards. Familiar names on certificates (Priargunskiy, Nerchenskiy, etc.) Familiar to anyone who has been watching Mr. Feldbush multiple attempts to sell them to different penny scams.
As to the “storage certificates”… let me translate it for you from “Buryat English” . What they tried to write is “reserve certificates”. The intention was to produce some paper “proof” of multi-billion precious metals reserves hiding underground in those toxic waste dumps. They are referring to the local Zabaykalskiy Complex Scientific Research Institute just like Krong/Aurus “proof” was based on fake TsNIGRI estimates. I know in details how they usually do this in Russia – I spoke with experts in TsNIGRI. Just one call to a friend and you get a "conclusion".
So, what we have here is the attempt of one tiny private LLC “Mahanaga” (100% belongs to Elvira Azargaeva who paid about $155 to get that stamp) to certify huge multi-billion reserves of another tiny LLC “ZabaykalGeoProm” and use for this certification not local Buryat language, not even Russian, but poor English. Well, I guess they spent more money on translation than those reserves worth.
What is also interesting... just like other scams like this (see, for example, RVBR) ELEMENT GLOBAL MINING GROUP, INC. "with substantial assets" can't even pay its Delaware taxes. Check https://icis.corp.delaware.gov/Ecorp/EntitySearch/NameSearch.aspx : Quarterly Tax Payments
Pay Description Amount Due Tax Year Due Date
Overdue Tax, Penalty and Interest $92,028.54 2016 Past Due Date
"Multi-billion" corporation cannot find $92K to pay State taxes. Based on our previous experience, this number will grow fast adding penalty and interest monthly. They just don't have money and intention to spend them for this "tax nonsense". The purpose of this business is to sell empty PRs to investors, and then disappear just like dozens of similar companies with similar imaginary billions.
Thanks. It's different tailings I guess, but the same scheme.
Let me put my 2 cents in this: ZabaykalGeoProm, mining assets, Feldbush, etc.
First, how it works… There are plenty of technogenic tailings in Russia especially in Ural and Siberia regions. Those are leftovers from former Soviet Union “industrial might” when nobody was really thinking about environmental problems. Now most of former industrial giants are out of business, and you can easily get those tailings for free from local authorities with the obligation to clean up those toxic dumps… I mean “mining assets”. So, the idea is: a). register tiny limited liability company ABC; b). transfer toxic dump to ABC; c). get (buy) fake estimates of precious metals content in that dump; d). sell those "billion-dollars worth" assets to stupid and gullible American investors.That was the case with Krong/Aurus, the same is here.
ZabaykalGeoProm: Private LLC with startup capital 30,000 rubles = ~ $470. Three owners, registered in apartment #2 of small apartment building:
https://sbis.ru/contragents/0313004282/031301001#msid=s1472290395484
Related business ZabaykalGeoProm-Plus was registered in Moscow and liquidated in 2013:
http://egrinf.com/4673207
The company’s agent Constantine Korabelnikov (Siberian origin from the same area – Novosibirsk, as I see) is trying to sell metals from Israel… with no visible success:
http://www.exporters.sg/member_profile.asp?co_id=114361
the company itself has not filed tax declaration for more than one year and should be watched closely for possible bankruptcy (just like Krong went bankrupt before).
http://www.kartoteka.ru/card/ebd73b25b96bf95d1d6b2846b9107487/
Feldbush Viktor Ivanovich: General Director. Used to own agricultural farm in the same region, then switched to the “mining business” located in apartment #2:
http://rusceo.com/person/2136898
Feldbush tried to sell those “assets” before. Aurus was mentioned already. Here is the result of another try:
“1.2. The Parties hereby reached an Agreement to return the property accepted by the Purchaser to the Seller, due to the fact that it is not now economically feasible to process the man-made tailings, due to the absence of financial resources or technological facilities to extract precious and rare-earth metals from this type of property. By this Agreement, the Parties affirm the absence of claims against one another under Contract No. UV/ZGP-2, dated November 5, 2006. The Purchaser must perform the return of the above property no later than June 30, 2008.”
https://www.sec.gov/Archives/edgar/data/1301557/000114420408048449/v124117_ex99-1.htm
Conclusion: well, make it yourself. For me it’s a typical Russian scam, which doesn’t mean it can’t run on false “mergers”, “dividends”, or “buyouts” news. Just like other scams often do.
I used to hate this author for his style: "I told you so", "as I predicted"... especially when he was very bearish on gold all recent years. Still, I have to admit he was right more often than he was wrong. Well, now his call is: "Gold Is Heading To $25,000":
http://seekingalpha.com/article/4001490-sentiment-speaks-gold-heading-25000
US Mint 2016 SAE "enrollment" price is $39.95 per unit. Of course, there is no demand at these price levels.
http://catalog.usmint.gov/american-eagle-silver-one-ounce-uncirculated-coin-enrollment-MT.html
My next purchase of Silver Eagles will be at $18+... or I will let it go.
Russian position: "It was US choice to leave Middle East and concentrate on South China Sea confrontation. There is no real disagreement with European coalition, and the only possible problem is Israel. But Israel and Russia are partners, and Israelis got Russian safety guarantees." Also, there are rumors that China may join Russia-Tukey-Iran coalition.
Lord Rothschild: Why I've sold hundreds of millions of pounds worth of shares, and bought gold
http://www.whatinvestment.co.uk/financial-news/funds/2540166/lord-rothschild-why-iand39ve-sold-hundreds-of-millions-of-pounds-worth-of-shares-and-bought-gold.thtml
Which broker do you use for shorting? Nonsense. It's impossible to short sub-penny stock. There is no shorting here. It's insiders selling at any price, and they have about 60 mln shares left.
All buys? LOL. 400 shares bought at ask. The rest is a big dump.
Time Price Volume Market
15:21:51 0.02 250 OTO
15:21:20 0.014 10000 OTO
15:21:10 0.014 125000 OTO
09:32:37 0.0284 150 OTO
09:32:19 0.014 330000 OTO
Maybe I’m too cynical, but I think number of people who chose silver were turned down because they didn’t fit the author’s agenda.
I just can’t believe ALL of them are so stupid.