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I don't think any of us really know if Murdock is the problem. It's the old correlation vs causation thing going on. We did get PR about 500MT of ore in Dec and an end of year recap, post Murdock. It's not like they quit updating us all together. It's possible that things just took more time than a lot of us expected.
It was pointed out on here last week, maybe we need Murdock to get up listed?
From an IR perspective, Thomas Dean is pretty responsive and by the book. He was a big part of why Bob responded to my email last week.
Yep.
Hopefully they don't dump a bunch if dilution in us today. That would be kind of sleezy!
Run baby run!
Didn't LCBM allude to something along these lines?
Yes. That is one of the points that caught my eye.
Should be getting more regular updates. Is it possible that there is so much going on that they don't have time to update us? I mean, Don didn't even have enough time to clean up the Forum presentation for us.
Maybe they're just stretched too thin.
This is really good news IMO.
Yep.
I recall three times in the last few weeks this tried to take off and was completely beat down by company dilution.
Make no mistake about it... Management's strategy is the only reason the pps is where it is.
Love the attitude!
Time for this thing to make a move.
It's a good indicator that they are very serious here and confident in their future' IMO anyway.
I'm also glad that they have been more realistic about their timelines. Now they need to sell the stuff!
After weeks of reading about prices going down, this is refreshing.
http://www.metalbulletin.com/Article/3333473/Minor-and-precious-metals/Gains-in-sight-for-antimony-prices.html
I'm mixed on this one... wish they had a blackberry variety. That's just the Polish coming out in me though.
Glad to see they are diversifying. You only really need one of these products to become popular. Bottle looks pretty cool. Will catch some eyes.
Forget all the BS international talk... focus on US distribution and new products!!!
Thanks!
Almost went to bed. I swear I looked and didn't see them.
That's where I'm at on this. Personally, I think a solid 3 cent pps is where we should be. We will get back there soon enough.
We are a probably a year plus away from regular revenues. That being said, the valuation will increase as progress towards the mill is made. I don't think we get a correction until progress is made on that front.
Two years from now, we may be looking at $13M a year from Fencemaker, revenues rolling in from Arabia, misc revenue coming in from the mill, and progress being made with respect to final stages of lithium exploration.
This sucks, but going back to a comment that was made here this week, I don't see them extending themselves to Arabia if there were problems. They must feel good about realizing profits from Fencemaker.
Bummer... no Money TV. Broke their every other Friday trend. Too bad they wasted the last one.
Maybe we will get something tomorrow, maybe we wont. Personally, I think the news we got early this week was the biggest news they gave us since the CA ABC approval.
My questions emailed to Bob and the company's response:
1) What is the status of the trial shipment to our Chinese buyer? It was stated on December 16th by the company that regular shipments will follow. What is the current plan and what is the company's current definition of "regular shipments." Furthermore, when will the revenues from the initial shipment be realized and can investors expect an update regarding the details of the transaction.
Response:
"The company also has been working with the trial shipment and the buyer, and the latest CEO corner stated the expectations of that shipment to be reported out in this financial quarter (closing April 30th). Completing this trial shipment has been a long and challenging verification process, as the company had no previous data or framework upon which that the buyer could rely upon. The expectations of additional inventory sales will continue once we have a proven and established process."
2) What is the current status of the SPA with Tangiers? The most recent 10q suggests that the commitment fee has been satisfied in full, however the notes on common stock suggest that a new agreement was reached in August 2013 and that 50% of the commitment fee is outstanding.
Response:
"The Tangier's SPA is an ongoing agreement and we have completed a portion of that financial agreement with the selling of shares. As the company closes the 3rd quarter on April 30, we will again update the investment community with our next filing.
[As] a side note; the team of Murdoch and FLPC is always reviewing and looking for ways to refinance or enhanced finance terms for current and future operations."
3) Is ore currently being extracted from Fencemaker and have any requirements for a second entrance been worked out? How much down time was there, when did/will mining continue, and are there plans for a second shipment in the near future?
Response:
"The company also expects to have additional updates on Fencemaker and mill operations next month, but the focus of the advancement of FLPC needs to be the completion of the mill operation in addition to adding additional resource properties to further supply the Lovelock mill operation."
Additional comment:
"Again as a reminder, April 30 will end this 10Q (3rd quarter) and the company will file our latest financial reports for all investors to review within a few weeks."
My take:
We won't see revenue until the 10Q comes out. The plan on making continued sales once they have a proven process, which means they might not have one as of today. They the 10Q should be out in a "few" weeks which has in the past been about 6 weeks.
In my opinion, we still owe Tangiers 50% of the commitment fee for the SPA. It also seems like they would rather find other sources of funds, so I'll be interested to see if it is every executed. I believe the 7M shares were given to them before Murdock came on the scene.
They're planning on updating us next month... maybe they are prioritizing the 10Q and trying to get it out in May? That would be sweet if you ask me.
I got a response from Bob. I will post more details later, this quote interested me...
" The company also expects to have additional updates on Fencemaker and mill operations next month, but the focus of the advancement of FLPC needs to be the completion of the mill operation in addition to adding additional resource properties to further supply the Lovelock mill operation."
I'm not expecting to hear much from them for awhile.
What's with the volume so far...
We might get the presentation from the World Forum by the end of the month. I think we will get a business update in early May.
There was some action yesterday, partly due to one of our own dumping their shares. There was obviously some other people selling. Too.
Monday and today we slow, slow days.
Based on emails with Murdock, they expect some sort of statement after the quarter ends. I'm not expecting to hear anything from the company between now and then.
A lot big time red in my watch list today.
I think things will work up here.
Concerning to me either way.
True... But, they need to worry right now about getting dropped down to the pink sheets if you ask me.
He showed up around 11 yesterday if I recall.
Murdock and FLPC have a conference call this afternoon per T Dean at Murdock.
As best as I can tell from the filings, as of January 31st, the only ore they had was the 500MT they told us about in December. They had no stock pile inventories in their filing. All they had was $186k in work in progress inventory.
500MT at around 4% sb is approx 36MT at 55% sb.
36MT at 55% would have to go for about $5200 per MT to get the the $186K, which is within market prices at that time IMO.
As some on here have discovered, mining was clear to resume sometime in Feb/March. If mining did resume, I would expect another 500-1000MT of stockpile inventory.
If I recall, they stated on FB at one point that they prefer to discuss inventory levels in the quarterly filings, so we may not know what is going on for two more months.
It's getting hard to keep the faith alive here.
Had to be another dilution Tuesday if you ask me. What have they given us lately? Can't even give us their notes from the World Forum. All we get is an interview with Bob that we have to pay $75 for.
Nothing like an end of day crash...
They really need to tell us what the heck is going on.
I'm expecting a money TV this Friday.
We need clarification on what's going on with the CEO situation. Frankly, I hope it's true, but why weren't we informed?
Thank god they pulled back on dilution. We would be in trips right now.
There is no action here. It's getting frustrating. We can't catch a break!
Finally some real news.
It could be a wild ride... There is potential for a lot of really good things to happen by the end of the year.
I think it's getting to a decent entry point, personally I'm waiting a few more weeks until I re-enter.
It was 363M as on June 30, 2013.
I guess increasing the OS by 32% in 10 months doesn't count as dilution.
Growlife is on MoneyTV the time too.
I like the fact that they go in front of the cameras and talk to share holders, but on some level you need to realize it is just a promotional tool to attract investors. They try too hard to sell their stock. They have a poster for their product and at the bottom it says "Stock Ticker MRIB" for Christ's sake. I've never seen that on any advertisement for other products.
They lost my support last episode. All they did is try to buy themselves time. They either lied to us about Brazil or they don't know what the hell they are doing.
Good points.
Just think objectively and you will realize that at 5 cents this thing was probably a little over valued.
Alex Turner popped up on Facebook again.
April 14th post, commented about 8 hours ago.
Alex Turner: "Very impressed with Company and CEO"
Really at the point where this can go either way in the short term, no?
We need a catalyst to put things back in our favor.
Since the market is closed tomorrow, does this come out tonight? Just curious.
Yea, I agree. I'm more interested in Don being in Lovelock this week.
They have to be running out of shares. What's with the big ass bid sitting though?
At a minimum, tomorrow we should be getting the notes from last week's presentation.
Stalemate. Its almost like they want it right there.
I made a lot of money with MRIB. My average was around .01 and I was able to sell them between 0.03 and 0.047.
If you think about this objectively, they're not ready to be $25M company... Let alone the $100M company some here were/are predicting.
I sold the rest of my position Monday. I thought about it, and I don't want to hear about international sales at this point. They need to get the US market figured out and prove their concept. Quite frankly, US progress is underwhelming.
It's worth keeping an eye on because it might be a good buy in a month or two.
If you are a true long, nothing has changed for you. You're making the same bet. Been going through this same thing with another company I'm a true long in.