Successful Businessman unlike FLPC
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Those so-called 'FACTS' are a copy/paste from someone else's post.
Your post really doesn't cut any Ice! Without money, those points are meaningless. No point in having a Mine if your not going to Mine it!
Here is some idea what rubbish FLPC has written in the past.
CEO, Don Nicholson, noted that ongoing blasting and mining work at Fencemaker has advanced to four blasts per week, with more than 350 tons of stibnite (antimony) ore prepared for shipment. "We anticipate that the first container loads will be ready for sale by mid-December," (BUT BY A SUBCONTRACTOR AND NOT FOR OR ON BEHALF OF FLPC. If it was for FLPC, where are the Bills/Invoices to prove it?) Nicholson said. "At that time we will provide details on ore grading and deliverable quantities." THEY DIDN'T.
Mr. Nicholson further noted that First Liberty CFO Mario Beckles recently spent a week at the Fencemaker site to advance accounting / production oversight policies and mining operation procedures. A follow-up visit by Mr. Beckles is scheduled for early December to review and finalize the systems, as well as to implement additional testing protocols for ore grading and transportation logistics.
Vice President of Operations Bob Reynolds announced that the company is continuing to progress on design and finance for the mill operation in Lovelock, Nevada, which is close to the Fencemaker mine site. "By having our own milling facility, we will have the ability to process the ore at a faster rate as well as achieve greater recovery and grading," Mr. Reynolds said. "These processes will result in an ore concentrate of 50% and above, which has a greater value to the company. Upon completion of mill design specifications, we anticipate submitting the permit applications in December."
IT NEVER HAPPENED AND WAS NEVER GOING TO. It's all 'Tripe n Hype
Nicholson completed the Pathways of Progress update by announcing 'preparations' are underway for the inaugural First Liberty Power Annual General Shareholders Meeting (AGM) at a date early in 2014.
FLPC will continue to use Pathways of Progress announcements to update advancements in their mining and overall operations.
ABOUT FIRST LIBERTY POWER CORPORATION (OTCQB: FLPC): First Liberty Power Corporation is not a true innovative and diversified exploration, development and mining company focused on bringing to market strategic minerals for America's Future. The First Liberty corporate philosophy is bs, driven by dedication to the Pathways of Progress (POP) program . This is a program of best corporate practices designed to drive the company's exploration, development and mining operations, not benefitting First Liberty shareholders, investors and mining partners, in addition to ensuring safety, environmental integrity, and good governance. Presently, First Liberty has interests in four properties: the Fencemaker antimony project in Nevada, the Lida Valley and Smoky Valley lithium brine projects in Nevada, and the San Juan vanadium/uranium project in Utah, are purely possibilities.
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future plans of the company, the prospects for our mineral properties, and our ability to raise necessary working capital.. Clearly, they haven't done very well!
Actual results could differ from those projected in any forward-looking statements due to numerous factors, including the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
This last sentence is an undisputed TRUE FACT and didn't prove to show any significant accuracy whatsoever, so they are spot on there! lol
"FLPC FACTS:
1. FLPC has a mine with Antimony in it.
2. Antimony is in high demand
3. FLPC has gotten the fencemaker mine up and running in the past and can do it again
4. FLPC has 1000 tons of ore waiting to be processed
5. FLPC can't dilute without raising the AS
6. FLPC is having their financials audited to get current with the SEC
FLPC PLAUSIBLE FACTS.
1. Correct, but the Antimony is IN it. Someone has to pay to get it out and it's going to cost Megabucks. Who will risk lots of work and cash outlay for a low yield?
2. Correct. Antimony IS in high demand, but only from those who have it ready to sell!
3. ....IN THE PAST, yes. That's history, you need to look at the present, but again, where is the money going to come from?
4. Correct, FLPC does have 1000 Tons of Ore WAITING TO BE PROCESSED. The operative word is 'Waiting', as it has been since c2013. One day, maybe?
5. Correct, for the foreseeable future.
6. Also correct, and about time too!
7. What's new though? Same s**t, different day!
Whatever people say here about answers from the BoD, they won't tell you anything apart from what they want you to hear. There are no FACTS or PROOF that have ever been stated by the Board that FLPC WILL Mine again. The BOD play on words BUT NOT FACTS. They only offer proposals and 'what if's'. They have no tangible asests worth anything...even Fencemaker has been 'Played out'.
So, big deal, they have Mining Permits and own the right to Mine at FM. If it was worth anything at all, they would have sold the rights to someone who will Mine it. So why aren't Miner's falling over themselve's to Mine Fencemaker? Answer: because it is no longer a viable Mine against the cost to continue to Mine it. The risk outweighs the return which is why KNOWLEDGEABLE Mining company's have steered clear and are concentrating on projects that DO make money.
The MAIN FACT here is that the BoD continue to fob shareholder's off year after year without ever achieving ANY results. I still stand by word of Bleeding the Shareholder's dry of almost 'every' Dime they have invested, and it still begs the question WHERE IS THE MILLIONS that was invested? They bought nothing of any significance, they Mined some Rock which is virtually worthless, they've left a mess on Jerry Whyte's land, they only paid them because Nevada4news took out an Editorial which prompted them to cough up. They had NO MILL, even though they made big thing out of it. All they have is a few pieces of paper that expire in just over two years to say they can Mine.
Let's look at the REAL FACTS again: No sales, No profit, Toxic Debt, One less Director, No Mill, no Full processing of Ore, Zero Antimony extraction for resale, No significant cash, No Filings available for THREE YEARS, TWO MORE years of Outstanding Filings, huge Debt still outstanding to Creditors, Tacky Movies with the same Actor's to try to make out they are going down into a Mine when there's no ruts in the ground from activity. The claim they've been putting their 'own money' into the company. Rubbish, it's come from the Shareholders investment, No JV interest and a long declining Share Graph line which says it all.
Surprisingly, people STILL throw money into the BoD's hands without really realising where it's all gone! If it's been used wisely, where is the TANGIBLE PROOF the Money has been used to Further the benefit to the Shareholder. There is none as the only money that's ever been made here is purely on hype and trading on same. NO MONEY has ever been made as a result of actual actual Mining...HARD FACT.
Whatever Millions there was, has been NEVER been used to favour the Shareholder, only to the BoD's own ends, if not, where is it and the PROOF it was used wisely? If it even show's in the Filings, you won't see those this side of Xmas...GUARANTEED. Just 6 weeks to go.
FLPC is still dead in the water and once all the Filing's have been made public, the BoD may choose to call it a day?
SILVE: They will keep going until they either bleed the shareholder's dry, or the Accountant's recommend they go.
There is NO WAY they can get rid of all the debt without Mining and they can't Mine without cash, so the debt will remain. It's obvious, despite what some here say, it's vicious circles. The problem is insurmountable.
Once the Share buying goes down to almost nothing, there's little point in them continuing. What they may well do is release some info. just before Xmas. That will start all the buying again and so the BoD will stay until that revenue is exhausted. The BoD are ONLY in it for themselves, naturally, and don't give two hoots about anyone else.
Time marches on.
The Government will want some decent figures to justify offering them Working Capital. They won't GIVE money away without getting Proof that they will get it back again. If they send someone around to the FLPC Office for a chat to see what they want to do, how much they want, they will also want to see Profit & Loss Accounts for at least Three years.
IF you were a Government agent, would you lend FLPC thousands of Dollars on the basis of 1000 Tons of near-worthless and unprocessed Ore and nothing else to show from 7 years in business except massive debt...of course not!! They'd be crazy! They will just turn and walk away. If they really needed it, they would go to the Landowner's who OWN the Mine. FLPC only has Mining Rights but not Mine ownership.
You could try averaging down but it's still very high risk if it all goes Pear shaped. With FLPC you just cannot tell what will happen, but based on their poor financial situation over the last few years, the risk of them folding is far greater than the chance of them Mining again.
Nobody was to know what would happen from inception. With all the best will in the world, you paid your money on the basis of FLPC's 'sales pitch', but of course, they do point out the pitfalls, just in case.
I too, have been 'caught out', not once but several times, and it leaves a bitter taste, so averaging down could compound an already bad situation, but then again, they could announce news that will put everyone right again. I nearly bought in here a few years ago, but after researching the company, well.....you know the rest! The risk is much too high, but if they had a good proven track record, things may have been different.
I wouldn't invest in any company that couldn't run a pi$$ up in a Brewery! VGLA.
Red? LOL Read :(
Best post I've red for ages. At least your honest :)) True to form too! lol. I expect management are already aware of how they are. A pretty smug crew, feet on the desk swigging Coffee no doubt!?
The shareholder's will need lots of luck to even try to trade this one. All FLPC need to do is issue a couple of encouraging statements. Whether or not they are accurate makes little difference, they can make this share Fly if they put their minds to it....always covered by their disclaimer. They have nothing to lose...literally! LOL
Exactly! They do have some Mining experience though, but it's no use without money! I have loads of Mining experience...I own a Metal Detector ( A Minelab Explorer XS) and I have made shack loads of Money with it!
I know the difference between ferrous and non-Ferrous minerals,
(lol) and I have made more profit in ONE Hour's Detecting than FLPC has made in SEVEN years! Perhaps Bob & Don should go out and buy one each and get 'Swinging'!? Ha!
JBW:
"Bob is a decent honest person"? Personal friend is he, known him for decades, had business dealing's with him, business dinners, etc.?
Bob is a Business man. In ALL walks of life, there is no such person in big business who can be that decent AND honest at the same time, especially when transacting large deals. They succeed because they are NOT decent & honest. They succeed because they are manipulative, wiley and sly. Perhaps we should take a look MUCH higher up the professional ladder? How do you think Trump made his Billions. A Decent honest person would NEVER ever become a Billionaire. You don't get to that stage in life because you Pussy-Foot about pandering to other's.
Decent & Honest people usually fail because they can be too honest to their own detriment. Think about it.
I have only succeeded to last in 25 years in my OWN business, simply because being too honest doesn't work. People will ride rough shod over you and take advantage of you, and if they do that and you give in to their demands, they are invariably better in business than you. They win, you lose because they are NOT usually decent or honest! To achieve good business acumen status doesn't come out of fresh air, you have to learn to play a mean game to survive and know your trade.
If you play a straight game, be on your guard for those that don't. They make the money, not you.
FLPC is not in business for fun. The sole reason for them (or anyone) being in business is to make money, nothing else. Work out why FLPC is still trading. Unless they have other business interests, whatever it is, they are surviving BECAUSE they have 'earned' money from whatever source.
Try to work it out.
Dog eat Dog, as the saying goes.
The only proof is that they SAID it, not done it. Some people don't know the difference between Slander and Libel. Nobody has Libeled any Director. If I said that a company Boss, by name (A Company) was stealing and misappropriating company funds and it wasn't true, that is of course Libel.
In the case of FLPC, they are at liberty to take as much as they like without question...to some degree, although it would be silly for them to do that. It would leave the business with no working Capital and the inability to maintain and progress the business as indicated in their Website for their Shareholder's...who they don't care about!!!
Echo: Don't forget FLPC's disclaimer although I prefer to call it their 'get out'. They write there is 'no guarantee that what they say will actually happen' which is so far, proof & evidence of one of the very few facts to adorn this site. They are very accurate on that sentence. "No guarantee that what they say will actually happen". Spot on Lads, a VERY ACCURATE understatement!!
Based on that FACT, I can see many investor's "Buying More" just to ensure that the continuation of "Nothing happening", keeps the BoD happy to carry on doing 'nothing'.
Bing Crosby Sang: "Were busy doing nothing, working the whole day through, try-ing to find lots of things not to do. Were busy going nowhere, isn't it just a crime, we'd like to beeee unhappy but we never do have the time" ! la la lala la, etc!
It must have been written for FLPC but it was a little early...or was it too late? LOL
Your spot-on there Echo!
It's all Hype and no action with FLPC. They've been fobbing investor's off from the outset and blown all the cash and turned it into toxic debt. Where do you suppose it's all gone? If we ever see the Filings, all will be told...maybe?
My prediction's WILL come to pass. Don't forget that Nostradamus's predictions were based on hundreds of years in the future, not just a few years, so what's a couple of years?
Equally so, Investor's have been harping on about how great FLPC will be and have done for SIX years. We've yet to see any signs of a Single Dime in profit whilst the BoD has spent all the money on what. If there's no sign of investment and years of debt after several Million Dollars Invested, there's only one thing they must have done UNLESS we see the results of their spending. They could have paid themselves obscene salary's, WHICH I hasten to add is not illegal, but it does give you a very big clue as to how they work and sap the business of working Capital.
They TAKE and give back nothing. Now, Investment is so poor, the BoD will call it a day as the money 'in' is petering out and FLPC is rapidly becoming a lost cause for the investor with no sign of ANY progress on gaining cash for Mining and paying off creditor's which will NEVER happen.
Where is PROOF & EVIDENCE of cash for a Mining program and PROOF of a "Restructure". It's only what the BoD SAID and it holds no ground as actual FACT. All hear-say.
Tick Tock
People have been offloading for a very long time as they have obviously decided that since they announced their so-called "Restructure" of which nobody has a clue what it actually is,so many have called it a day. Can't blame them either!
Still, there are people that continue to offer financial support by continuing to buy a few Buck's worth so the BoD can rely on the good old Shareholder's to keep the food on the table, LOL. As long as the cash keeps coming in, FLPC will keep the doors open until Heaton suggests otherwise. I wouldn't mind betting that Heaton's staff are being very well entertained by FLPC's Accounts!
Nearly THREE years and still no sign of the Filing's! Perhaps next year...IF they survive until end Q1 '18?
of course it's a Statement of FACT, but there's more, a lot more. It still remains that there's an outstanding issue that prove's there are anomaly's that has not been addressed and other items that remain in question.
At the end of the day, the Accountant's recommendation is almost certain to suggest the choice of a continuing unfinanced business struggle and on a hiding to nothing, (which has been obvious for years), or to throw in the towel next year. It's clear with mounting and Toxic debt, which way path they will take and it won't be the Pathways of Progress as there IS no progress sufficient enough that will satisfy the long suffering Shareholder's.
As written by Heaton's
"...During the most recent fiscal year ended July 31, 2016, prior to the engagement of Heaton, the Company did not consult with Heaton with regard to (i) the application of accounting principles to a specific completed or contemplated transaction.....etc, etc.
That's all you are going to get. See if you can work out why it appears that FLPC are allegedly 'Holding back' some accounting info.
EVIDENCE of all not being as it should.
RJB: You think it's a 'Scare tatic'? No, the realisation that FLPC's Accounts contain *evidence of issues that at the moment cannot be resolved by Heaton's and FLPC. They won't proceed until they get it sorted out, so it WILL take ages before any Filing's appear and for sure, it won't be this side of Xmas. FACT.
This is available ONLINE if you care to search very hard for some of the EVIDENCE.
"I highly doubt Heaton's would dole out privileged information between a client and the public?"
Well, there's no mention of the info. being 'privileged' but you certainly won't be finding out on here any time soon!
I have AMPLE Proof, but it's for my eyes only. When and if the Filings ever appear, you will find out!!
Bob said the Filings COULD be ready by Xmas. All you need to do is send him an e-mail asking him if he can give you an idea if it's still on track?
Knowing the dreadful record of FLPC and how they work (or don't), I doubt very much that you will see the first of three: (2014), then there's 15 & 16, this side of February or into the summer. I asked him several weeks ago but I don't think they are anywhere remotely close.
I sent Heaton's an e-mail direct, about two weeks ago, but from what I have gleaned, is that they and FLPC are experiencing 'some differences' of opinion's about some 'Transaction's' that have taken place over the last three years. Nothing more can be said. That's all they wrote.
One thing I will not do is place ANY details of any comm's on this Forum....even if 1kgw wants his Proof & Evidence. Some things just won't be divulged on a Public Domain.
Best chat with Bob and see what he has to say. Probably the usual Stalling twaddle, but as a shareholder (assuming you are), you have [b some rights to know what's going on.
FLPC BoD, All talk and no action. No cash, no plan, no Filings, no "Restructure" 3 years is looming. There IS no "Restructure", it's total BS. Major company's can Restructure in months. Just two guys sitting in an virtual Office wondering what they can say next which sounds plausible enough to attract a few more, poor unsuspecting mugs! A small Tin-Pot company that cannot satisfactorily handle it's own affairs for the good of investor's. Let's face it, if they cared, they drizzle update's much more frequently. No news means nothing's going on worth writing. Zero Progress. ONE Public Notice in almost THREE years. Absolutely SHOCKING.
'FAKE NEWS' can be read within the FLPC Website.
Tick Tock
FAKE NEWS is what you have been seeing here for years! What I was saying is that I'M not throwing any more money into the pockets of ANY CEO on ANY Company. Listing a company on the AIM or OTC is a licence to print money...but NOT or rarely for the Shareholder's. The CEO's always come out on top covered by their Disclaimer as to whether or not you choose to invest.
Even the company's I have invested in since 2007...the 'Sure Fire' bets, still failed, and they all have a much more plausible business plan which is yet to be seen in any detail here. In addition, the company's I invested in actually HAD money to carry out their plan's, but still many failed a few didn't and I made some decent cash. Raymarine/Garmin was one.
To actually be mug enough to chuck money into company's that has never had anything to show against people's investment is foolhardy and some investor's still haven't learned their lesson, but WHO CARE's!!?
The CEO's don't!
Thanks! Luck is not what I need....it's a Miracle. Don't see many these days. If FLPC works out, we'll all know there's a God!! (Whichever one suits you!)
How do you know. Have you been told or just guessing?
I will not be investing in ANY more shares. Unless you are lucky, it's a Mug's game where there are more loser's than winner's. Had my fair share of winning and losing, so it's time to stop lining the pocket's of Company CEO's...ANY Company CEO.
I bet the BoD are pleased people are buying. I think it's very amusing that people throw money into a company with no obvious business plan that has ever shown any signs of proving lucrative for the investor. SEVEN YEARS with an overall declining SP!!
The BoD's Pension Pot will soon be full and they will be rubbing their hands together in due course. They are on to a Win win situation! Pity they cannot come up with anything to CLEARLY show any tangible progress!
"FLPC is alive and well with a plan and a path forward".
FLPC is alive but on Life Support. There is no evidence of a plan. You may think the "Restructure" is a plan, but so far, it's just a word with no meaning until, if and when they make it public. The only path forward is in a serious state of disrepair and full of stumbling blocks.
Where is the proof they will?
You cannot rely on what the BoD say. If you read my last, you will see the possible potential. No proof either way.
If you look at their disclaimer, it cover's their backsides so they can say what they like and at the end of it, they will tell everyone, "Oh dear, it didn't work, but we never said it would", and bid you adieu!
Bob said he hoped that he would get the FIRST Filings out before Xmas, so there's nor PROOF he will and no Proof he won't. It's possible, but I have some doubts. We'll see. The 2015/16 won't appear because of 'complication's and some dialogue between the Bod and Heaton's, the Accountant. This is a known FACT as it's online if you know where to look. If nobody believes me, contact Heaton's and they will tell you some basic info. but only basic.
Perhaps the Accountants want to know where they've hidden the 'Pot of Gold'!! I expect all they'll find is a Gold colored Crock...wonder what could be in it? :( lol.
What IS FAKE NEWS is strewn across the FLPC Website. With the exception of the Ore and a few licences, nothing they say has ever come to pass that has done their Shareholder's any good. FACT.
FARCE. See the performance graph. Speaks volumes.
They don't need to say it, they just do it knowing that (almost) everyone know's their game!
1KGW. Thanks for the recommendation not to buy. Really appreciate your honesty! lol.
The BoD are still pressing on with their 'long term "restructure" and realize it's been long drawn out. The first set of Filings is progressing, and although Bob wouldn't commit himself to a Time Frame, from what I read, re' 'progressing' is just a little too ambiguous because he was non-commital. The other Filings requires 'considerable exchanges of Documentation' between all involved party's, and they won't be available for some consderable time.
Be amazed that 'considerable exchanges of Documentation' is necessary. Heaven know's HOW much they have. It's a tiny business, so they can't have that much paperwork which implies quantities of papers enough to rewrite the whole of the Britannic Encyclopaedia!! Unfortunately, I think there's more to it than that. It sounds far too involved to simply be JUST doing the first missing year's Filings, THEN the other two years.
Those who have been here forever must realize that something's amiss. Having been involved in accounting in one form or another for 25 years, businesses this size doesn't take a 'non-trading company' over two years to do ONE set of Books. One year of my own books took my Accountant two weeks, so it's very clear that something's not right.
Nobody will know the answer as they are not at the 'Sharp end', but there is one heck of a lot of stalling going on for reason's best known by the BoD. This is going to take a very long time, so make of it what you will. Re. Info from Bob's e-mail to me yesterday, PM.
OK, I see your $4.95 per trade is cheap. Ours are about $15 per trade depending who you use. Far too much.
I have about $8000 worth of near useless shares, worth less than $500 now. That's the way it goes and that's after nearly ten years of waiting. Never again, it's all too risky. Penny stocks tend to mostly fall by the wayside unless you are VERY lucky.
Trade on news here, LTH is probably a waste of time unless you have full evidence of an active scheme showing step by step results. Not a lot here at the moment.
There is NO PROOF or EVIDENCE that FLPC ACTUALLY HAS $300K, there is NO PROOF or EVIDENCE that FLPC will ever Mine again. There is NO PROOF or EVIDENCE of a "RESTRUCTURE"
There IS PROOF & EVIDENCE of NO MONEY, there IS PROOF & EVIDENCE of NO SALES or CASH FLOW and there IS PROOF & EVIDENCE of a CONTINUOUS DOWNWARD TREND on the FLPC Performance Graph. There IS PROOF & EVIDENCE of $1.3M Debt. Overall, THAT is PROOF & EVIDENCE the Markets has NO CONFIDENCE in this Company which is the OVERALL PROOF that you have all relied on HEAR-SAY from an totally UNRELIABLE Board of Director's who has scammed you out of your Investments and given you NOTHING Back. What you have is ZERO EVIDENCE of ANYTHING TANGIBLE happening in your favour whatsoever. Just a few cheap words, in the first 'update' in over TWO YEARS that says NOTHING ABOUT HOW IT WILL CONTINUE DOING MINING AT ALL, and ABOVE ALL, HAS GIVEN YOU NO INDICATION how it will go about ACHIEVING ANY RESOURCES to even enable them to put a Shovel in the ground. 100% FACT.
Having a Mine is NO PROOF that ANYONE can AFFORD or can be bothered to Re-Mine it because it's too costly which is why nobody is interested. If they were, they'd have been on to it years ago. It's a Dead Duck.
The clocks ticking for FLPC. There will be NO presentable Filings this year, if at all. It is many people's assumption that FLPC will cease to exist BEFORE the Flings are complete because they are so far 'under', they cannot possibly continue at the present rate. Any spare cash will go to paying HEATON's Accountants...if they're lucky.
Since inception, FLPC hasn't really made a concerted effort to do any serious Mining. One or maybe two Detonation's, that's all. This justifies the Title 'Mining Company'. They have never had enough funds to carry it forward, you only have to look at the graph to see what's happened and lack of Market confidence.
These guys never intended to Mine properly. In the early days, they had several Million Dollars within the Investment which has been absorbed in 'running costs' of the business, then all of a sudden, they had $1.5M Debt. Where did a couple of Million Dollars go to. Well, they've done a grand job of bleeding the Investor's dry to achieve Toxic debt. Basically, they've run the company very similarly to the old company, PPA. Full of promises but no action, an RTO that never happened, just like the "Restructure" they are supposed to be doing for nearly three years. What exactly are they "Restructuring" that takes all this time? Nothing!!
How do you "Restructure" a Two-man company...swap chairs, Bob makes the Coffee instead of Don and they take it in turns cleaning the Jon. Easy! LOL. Solve the debt problem, get new accountants, write a few letters. I could do that inside 6 months, probably less. In fact, I DID restructure my own business to survive. I did this well within 3 months. Not hard if you can do figures and use Common sense based on Business Projection. The difference is that I have money coming in, they don't!
Even a complete fool should be able to see through this one and how they've planned it!
FACT: You have posted this message at least twice with slight variation.
FACT: It matters little whether FLPC owns Fencemaker or not.
Nobody's interested in it. Why, because it will cost too
much to re-Mine for about the third or forth time to
extract small amounts of Antimony.
FACT: Voaden tried drumming up support for a JV. It failed
because those in the Mining Business knew the Mine was no
longer viable to extract the Ore and content.
FACT: US demand is currently satisfied by China.
FACT: FLPC has been successful...in luring Investor's to believe
the company is/has embarked on a 'Mined in America' project
which to date, is a failure. A succeeding company would
have a much higher SP because they'd be Mining and selling
product.
FACT: FLPC has done neither to justify their existence.
FACT: FLPC Investor's are nursing significant losses due to
the BoD 'cleverly' deluding Shareholder's into believing
the "Restructure" will change everything and move forward.
FACT: The whole thing has been arranged as deliberate Farce,
feeding shareholder's lots of 'Interesting' Information
to try to maintain interest and investment into what
many see will never happen. Hoax.
FACT: The company has insufficient funds and Toxic debt that
will never allow them to operate as proper Mining business.
ECHO: It's going to be a slow old process. They employed Heaton's, the new Auditor's to deal with the unsubmitted two years Filings. According to Heaton's last note (available for all to see), anomlay's have arisen, so whatever they are may be delaying the completion of the books?
Because there's been no recent updates, the buying trend has declined and the selling has increased, hence the Share Price is back down. Essentially, normal trading on recent 'highs'.
Bob said he hoped that the Filings would be completed by Xmas, but I doubt it. These are experienced Auditor's, so how they've managed to take this long so far in dealing with basic accounts beggars belief. As FLPC is such a small Concern, they will be dealing purely with outputs as there probably isn't any input except that which the Director's are alleged to be putting in from their own pockets, although until we see the Filings with evidence of that input, we don't know.
Personally, I think their accounts are a 'Shambles' with as little shown as deemed necessary. Standard practice. One thing's for sure, they won't be paying any Tax because there's no profit!!
Some folk say, "Looking good here", but it's not, it's worse because nobody really know's what's going on. Their so-called "Restructure" is a big word to cover a multitude of 'sins. A TINY company doesn't take 2.7 Years to "Restructure" itself, so to me, the "Restructure" is purely a stalling tactic and rubbish. Even Polaroid managed to sort themselves out more quickly! Nothing's changed. FLPC is STILL in the same position as it was (that we know of) 2.7 years ago.
This Board is taking the Mickey out of all Investor's, but they haven't quite latched on to that yet. Doh! LOL. Wonder what Tale they will come up with next?!!
YOU ARE WAY WRONG. UNDISPUTED FACT:
For several years, Antimony prices have been WAY Higher (see chart), Prices have only JUST Started to recover, so your claim about 'Rocketing Price's' is UNDISPUTED RUBBISH!!
http://www.usantimony.com/pricing.htm
Bob is very good at responding to all my questions. He comes up with some quite protracted answers! He cannot divulge everything, obviously, so I have to assume his answers are 'within the parameters of being honest'. In fact, he doesn't have to be honest because telling the full truth is against the rules and could constitute 'Insider Trading', but at least he does reply. I make what I can of his replies, the same as everyone else.
Bob is a very reasonable person that will give you all the time of day.
SKIZIMUS: On a couple of occasions when I e-mailed Bob about the 1000 Tons of Ore, in each reply, he mentioned .."the Mined, 1000 Tons". He did not say FLPC Mined it. I am curious as whether FLPC themselves Mined it all or it was something to do with Stockpile Resources which FLPC bought along with 'all their Shareholder's'.
Stockpile existed as a 'Name Only' company, I think, and as far as I can tell, never did any Mining either, neither can I find ANY evidence of any Shareholder's on the Web. I have wondered for some time whether FLPC only Inherited the 1000 Tons and it was left lying around because it was the last knockings of the 'Dregs' of Fencemaker when it was alleged to be the last batch of low grade Ore and not worth doing anything with.
FLPC has Capitalised on making it sound as if they did it. They did make ONE Detonation though, but it doesn't say that IT was responsible for that Ore, If FLPC DID Mine it, I would be curious as to which Contractor did it and how much they were paid as PROOF that it was initiated by FLPC. Hmmm! Curiouser and Curiouser.
Wasn't it two years ago the last completed Filings. End of 2014, whereby they need to catch up on two full years. All of '15 and all of 16. They were supposed to be doing a "Restructure" from 2015 - date. Even now, nobody know's what it actually contains, even if there is one?
So many ambiguities with FLPC, nobody really know's what the true score is. All we are told is that FLPC is 'Moving on'!
Unfortunately, there are many things in Stocks & Shares which have 'potential'. As long they exist, they have 'potential', the same as Don Trump has the 'potential' to keep tight shut instead of digging himself (et al), slowly but surely into a very deep hole. If something goes badly wrong, he will destroy half the Worlds economy when the Markets crash at impending conflict. That will also drag FLPC down much further. That's not O/T but a significant fact for the World Markets.
With regard to FLPC, real potential can only be based on real facts to support any potential. As far as FLPC is concerned, there's too much working against them to be able to exercise such potential, even if there is any. Until there's more evidence of serious funding in the form of cash in the bank and NO debt, or greatly reduced debt, the likelihood of their survival is very slim?
It doesn't take a Mathematician to be able get their heads around some basic figures. A lot of Subtraction', but little or no 'Addition'. All these figures (as per the last Filings), add up to a very significant 'Minus' figure...as you all well know. With a deficit this large, I would say there is almost NO potential for a hugely expensive Mining program with no input to back it up, unless someone forms a JV who's prepared to Risk digging out Fencemaker and pay FLPC Royalties. BUT, based on the ORE they have, would you, if you owned a Mining company, risk several Million Dollars to Mine for several Months, for what is probably not going to give them a significant return on their money?
I thought not. That's as much 'potential' as you are ever likely get. It is not impossible though, but with the way things are, FLPC has an insurmountable problem.