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NEWS JUST HIT! GO TO SEC.GOV THEN GO TO EDGAR!!
...and I have a bridge to sell to you! :>)
Most of today's trading volume have been buys at $0.0003 except for the 24 million at 11:01 which traded at $0.0002. Soak up the $0.0003's so the 4's can get a chance!
ONE BILLION SHARES!!!
You make it up in volume. Just teasing. :>)
Why hasn't Yahoo news picked up the announcement from Sunday? ...or Reuters? ...or Marketwire? ...or Businesswire? I am long but just wondering.
$80 divided by today's average price of $0.0002 is 400,000 shares. $82,000 you supposedly invested divided by 400,000 shares is $0.205 per share. When was it 20.5 cents a share??? Stop the BS, PLEASE!
BILLION shares traded!
GREAT question.
Let's see it go UP and stay up. Good luck to you!
IMPORTANT: The $0.029 dividend originally was supposed to be RESTRICTED STOCK FOR 2 YEARS. If so, most people will probably exit at the same time driving the price down at the end of the holding period, albiet it could possibly be from a higher point...OR...from a lower price point. Bottom line: if it is restricted stock you can't spend it now. It would be only a paper profit/loss until an actual sale is consumated two years hence. They should have done a cash deal. Then you know it is a concrete deal and everyone can go about their business.
Hunt Gold's press release from Friday is totally unprofessional hype. First, using slang "drill baby, drill" makes it sound like a high school kid wrote the release...would Barack Gold ever use language like that??? Second, stating they are going to capitalize upon the gold surge is complete crap. If they already drilled and had proven reserves the stock might have moved, not when the company only has an unproven stake. Third, they say they are going to drill regardless of cost...Does that sound prudent? It doesn't matter if gold is $2,000/ounce that is totally irresponsible to say they will spend without regard. Fourth, they said they will increase the share price to a "massive" extent. What meaningless crap, especially when NO ONE knows. Just hype and unprofessional. Comments???
Although I am long it appears you are correct.
I think you are right. I would prefer that FFGO gives any cash they have as a cash dividend and not "invest" on our behalf. Since FFGO is supposedly liquidating they should let shareholders decide if they want to get further in bed with HDLC. I personally do not want any more HDLC. There are MANY better gold plays.
FFGO can not value their large HGLC block at the current HGLC price because this block would hammer the market price if it were to go on the open market. It is VERY misleading to put out a news announcement to say otherwise.
ThePennyTrader: Regarding when you said
"The whole point of propping up the price is so they can sell the shares and distribute the proceeds."
If the HGLC market price rises because of a lower float I contend it doesn't affect FFGO's HGLC holding because the market price is not indicitive of the value of FFGO's HGLC block. If the block went on the open market the HGLC price would drop hard. It's a little smoke and mirrors.
Thanks for your response. Questions: Why does the company think it can sell the shares at a profit in short order? (bear in mind the company supposedly is liquidating), and secondly why wouldn't another company simply do the same as FFGO and buy the shares cheaper themselves? For the company to say they hope to sell at a substantial profit is the same as any other trader's desire.
I don't know if this was discussed yet but I would rather the company pay out the cash used to purchase additional shares of Hunt than get further in bed with this company. I don't know how many FFGO shareholders are interested in buying additional shares of HGCL so why have FFGO do it?
Further, when the company says the value is $XXX based upon the current share price of Hunt it is misleading because a block like what FFGO owns would decimate the price if sold on the open market. Comments?
A fortnight is two weeks. It is currently used by the UK and former British Empire countries.
OK, I can see your point.
True, but wouldn't a company want to avoid a day when the world markets are in chaos to release good news?
No. Haven't you been watching the tape today, down 330 at 3:00??? Even if there was good news would you as CEO release news today? Why even ask the question when you know the answer?
Just took a look at Hunt Gold - OUCH!!!
...and that it is good news!
That would be excellent!!!
That was on August 14th. It jumped because of the news announcement that they signed the deal. The trading pattern then and now are not synonymous. If there is no news in the short run there is no reason to expect it to jump in a similar fashion.
Hello, question...Why are you getting excited about $500 worth of stock?? Add a few digits and it would be noteworthy.
The Company is spending a lot of money, $250 - $300K, to buy the 860 million shares. I would rather have proportionate cash than more restricted shares...eases the wait time if you have some $$ taken off the table, especially since the stock platuaued for the time being at $0.0002 - $0.0004. Thoughts???
Thanks for the reply. Best of luck!
Cyclone101, there was news today yet downward movement.
Evidently that is the idea.
Good morning all. How are we doing today? Lots of volume within a narrow band.
Bob, you are right, thank you.