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Well, they are talking about 500,000 ounces of gold to be extracted. Ad in the REE's and you are looking at some huge potential values here. I suspect they will plow some gains into more dredges and processing equipment. I'm thinking they should get to a point they can run both at the same time as there will be more than enough material to process when they get 12 dredges going. I can see this becoming a 100 million dollar a year operation in 2012 assuming current prices and a market for our products which are in high demand!
From a previous article- Sunergy says the REE are in alluvial black sand and could easily be extracted by dredging. Also, inspection of extraction undertaken in the past by local artisanal miners and prospectors shows REE-rich black sand. Laboratory testing “revealed a strong presence of valuable rare earth metals,” the company says. Recent assays by ALS Chemex in Sparks, Nevada, identified lanthanum, scandium, cerium, dysprosium, lutetium, neodymium, praseodymium, as well as hafnium, thallium niobium, tantalum and zircon.
Lanthanum prices!
http://www.metal-pages.com/img/chart/hp/233.png Through the roof.
There maybe a bigger market than we think for those black sands as the value seems to go up daily and they become harder to get.
Steve
I wonder how long it takes the ICON to show a profit after the initial cost, power consumption and man power to feed it?
Both are an important confirmation IMHO that build trust and bring in new buyers and keeps us loyal longs from bailing. Without a stream of back to back promises kept this will just be considered another pinkie. You have to not only have plans amd promises but back them up with action. So far, in most respects, SNEY has done so except in the area of financials. This will just help confirm we are on the right track and doing what we said we would. If they fail to deliver it just breaks that string of confidence building and brings suspicions warranted or not.
I just feel conned by not only someone I felt a friend, but by the CEO which really pisses me off. I have one I think we maybe both in and it seems their potential is nothing to sneeze at. I think many other in on that one too. Seems the investment community for now at least sees little to no chance even with a pump and dump campaign at this point to recoup and risk any money. I guess Ken will have to come up with a new trick to wow shareholders to think they will get rich quick and maybe a new group to pump it up. I expect nothing but dishonesty from Ken and his crowd as they have proven untrustworthy!
what is with the price? .0001?????????????????? So some real estate guy paid .70 when it started and now this. WTF is going on are going to give us worthless shares?
Gee because it sounds good?
Because it has been over 6 months since remotely important has been said.
Because we have to say something that can possibly be deemed as positve so people will not give up and sell.
Because I get a dollar from Ken everytime I pump anything positve and that is the only way I can makle money off of it.
Because if I say it enough people will believe it is true.
Because I'm still trying to convince myself that I did not screw up buying this stock.
Because my wife is looking over my shoulder and if she finds out how much I lost I'm not getting any for like ever!
Feel free to add.
I fully agree. Get some revenues before the next expansion. If they are pulling out $2 million a month there should be no need for them to have to get more financing and they can grow at a comfortable pace adding as income increases.
Will the CE be removed once the 2010 finanacials get done or will we be required to be current with 2011 audited financials first?
Pooter think we were burned by the same cat and I agree trust but verify. Even with that they have to constant earn to keep your trust just to make sure you were not in a very smooth P&D scheme. So far, so good for this one with me, but I do wish I would have bought lower. Still, if they come through this could see .10-.20 this year if they keep doing what they are doing.
So we are close as I said $2-3 million a month. I had seen others underestimate and confuse things over at Yahoo. Off course, the final proof will be in the numbers that are verified. Who knows what we get with 12 dredges out there.
Using that number $320,000 per load of black sands is pretty sweet!
Not following you. I think it states that the 3 grams are per ton and from the feedstock and not from the black sands. The 80% remain is from the black sands. At least that is how it reads to me. We pull 60 tons an hour of feedstock which are 3 grams or 180 an hour or 1800 a day. 1800\28.35 equals 63.49 ounces times 1500 equals $95,238 a day.
Then you have 40 tons of black sand. This would hold 12 grams per ton. 40 times 12 or 480\28.35 or 16.93 ounces times $1500 or $25,396 or double that by months end.
To that you would add the value of the REE's and anything else. Seems to me we gross $2-$3 million a month at what we are doing now at least.
Question there is the value and if it is $8000 per bag what is the size of the bag. If we say each bag is 100 lbs. then that is another $320,000 and we have 2 by months end. Anyway you look at this once the numbers are confirmed the top could blow off this stock just on the visible gold.
Then he states that the 80% is what is left in the black sands which we have 40 tons now and 40 more at months end. So, this number is figured on only 40 tons versus the 60 tons per hour per day and will be much less, but on tope of that we have the REE's value.
Thing is if we just use visible gold only at $95,000 per day worked at 260 days worked a year that is $24,700,000. Even half that is pretty darn good!
I think there maybe confusion on the numbers. Read this!
Production has increased daily for the past 3 weeks. Visible gold production is up, from 1.5 grams to 3 grams per ton of feed gravel. We are now recovering more than the estimated 100 lbs./ton of rare earth black sands concentrate from each ton of feed. Management believes that over 80% of the free gold remains in the black sands concentrate. We clean the sluice out at the end of each 10 hour shift. By the end of this week, we will have 40 tons of rare earth black sands concentrate stockpiled. 40 tons is the maximum allowed to fit in the 40 foot shipping container that we own in Freetown. Management projects that an additional 40 tons of Rare Earth black sand concentrates can be produced by the end of June.
I think some are confusing the 3 grams of visiable gold as part of the black sands and not the feed stock. Take 3 grams per ton of feedstock at 60 tons per hour over a 10 hour day. That is 1800 grams or about 63.50 ounces correct per day! At $1500 an ounce that is $95,250 a day of just visible gold as I see it. That is not counting the 80% unseen and he black sands value. I think many maybe underestimating or I'm just reading it wrong?
I really think them just getting them out will be a plus. Not sure if they will tell us anything more than what we know until current Fins come out and show the cash position. It is more a trust issue and a confirmation that we do as we say and just not another pinky scam co. IMHO
Did you see that KATX somehow spent a -8000 on drilling. I wonder if this meant they did not drill as much on RR as expected and get a refund? Looks like all their money spent was pretty much salary and advertisng. What they need to advertise is beyond me. Maybe that is paying for promos? They did do some work it seems, but very little and no fuure plans nor much cash at all to drill. I suspect that unless they dilute there will be no drilling. Maybe next year. By then maybe people forgot the past sins of this pump and dump and they can shift to BVIG and do it again. Not looking too good for KATX or us getting our shares anytime soon.
volume just shows the day trade and momo crowd have left the game for now which is fine with me as they kill any rallies. Let them enter late after news hits!
It is anyone guess on that one. All I know it is best to be out of debt and have some means of exchange be it dollars or gold. Who knows maybe after it is over they will some how peg the dollar to some percenatge of gold and control money supply in the future that way and not let banks leverage loaned money like they are reserves. Funny, maybe it will be like pirate days when everyone had scales and took a chunk of silver or gold as a means of exchange. These are interesting times I had hoped to never see.
Not sure who you are referring to in this comment. I know I have had this same discussion with a client who has most everything in gold and silver. I remember well what happened in the 80's with the Hunt's. Again, not sure of what will eventually happen, but we either self destruct or we start lowering the debt and cutting entitlments. It will be interesting if we see riots in the street from Unions, students and government employees as the tit is pulled from their mouths. Wisconsin was only the start and we saw how ugly that got.
Stansbury is just trying to sell his newsletter. His actual track record from what I have read on the net is pretty bad.
http://www.nma.org/pdf/gold/his_gold_prices.pdf
sorry forgot on previous post. I'm no expert, but look at history as a guide. Could be different this time with wealth more distributed around the world.
Here's the chart on gold. While up in the 30's it did no have a run like today. The question is what is gold worth when you have plenty of cheap goods but little to no demand. Now food maybe a different matter especially if nature causes shortages. We all have to eat to survive.
I have heard both sides of the argument. Thing is you look at bonds and they are up depite yielding very little. People are worried more about conserving what they have than making money after the 2008 blow out. Ben is worried more about deflation than inflation. As far as dollars and debt the world still wants dollars despite all the debt issues. This just tells you how bad they think the safety of other currencies are. So, I expect if the EU breaks up the dollar will increase in value. Problem is with little cash in the hands of the masses it will not matter how low prices go they will hoard their cash and not spend it. This will send all prices and values down. How high did metals go in the 30's?
Yep, the investment bankers are in a pickle as they have kicked the mortgage losses down the road and loaded up on commodities to make up their losses thus causing a bubble. So, what is Obama and Ben to do? I mean their is an election coming up and jobs are down and this usually spells disaster for reelection. So, QE3 while, IMHO, the wrong direction is more possible than many think. Problem is that it will have a smaller effect and yet again just make the problem worse. But hey, that what the government is good at causing problems and then promising to fix them.
what no PR toady? Just kidding. Can't wait to see the first confirmed numbers of gold, Ree's and whatever that mystery item is. Hoping they blow the cover off the estimates!
Always appreciate your input since you have experience in this area. As for the diamonds they can just give them to us as a dividend for the wives and girlfriends for the guys on the board!
Steve
Well, shake the 8 ball. You wait until the outcome is known and there goes 90% of the potential gain. At least you have a vague idea of the outcome unlike many other penny stocks.
Sadly, from what I have read that was above average with many paying a buck a day. Here's the point. Even if we paid double that it is less than $70,000 a year for labor. It is pretty cheap. I'm guessing the fuel cost are one of the higher expenses. It also seems that area is known for it's high quality diamonds from just a bit of research and that is most likely the other prized material of which they are speaking.
Steve
I don't play games. I'm here to make back what I lost on believing the CAT was legit. I'm real serious about getting screwed and lied to.
As for an above average pay you are looking at $2.40 per day times 50 or about $120 a day. Assuming a 5 day work week that would be 260 X $120 = $31,200 a year for all 50 employees.
http://www.target-resources.co.uk/corp_resp.html
Steve
Read the PR and it explains it pretty well. They also said days and not weeks as HF surmised. Sounds like more sour grapes! You either believe these guys are doing right by shareholders now and trust them until they do something blatantly misleading or wrong or you stay away if you do not feel they are legit. Pretty simple.
Yes, your true colors are coming out now. Sorry, you missed the boat. Just pay a higher price because this will look very low in a few months or just wait and pay a higher price or look for another day trade.
Snow are you not counting that 4X that amount is estimated in the sands to be extracted during processing once their machine arrives and after that you still have the now more refined black sands which have value. This does not include the mystery item that could add to the bottom line be it diamond or another heavy metal. You may suffer from premature ejaculation from the stock!
Raise your bid and get us over .02! There are plenty of shares!
Agreed. It will just take time and patience on our part for them to build the company and production. I do wish we had mosre investors and less flippers. Looks like someone is either selling a large block or the MM is trying to slow the stock down using a large flase trade.
Looks like blow 2 for the naysayers. Nothing like results to put the bashers to rest, but I'm sure they will come up with something. It is refreshing to see a pink sheet actual put out a plan and follow it and keep shareholders up to date. Seems to me they wish to be seen as legit and have plans to be a major player and not a scam fly by nite that most pinks are. Thank you SNEY!
Well, that says it all. The ball is in Ken's court and he's in no hurry since what money they have left, if any, is being used make his truck payment I'm guessing. With $10,000 in the bank since last November I'm not sure how they even pay the rent unless it is from their own pockets much less any salaries. Looks like when claims payments come due they are even letting those expire. This thing has RED FLAGS all over it. I'm betting they have not even paid their IR firm as they have been quiet, except for pumping other companies. Maybe Ken traded services for the investor list?
It is obvious at this point they are near bankruptcy. Anyone know how that works in Canada? Maybe, once they shut down and get delisted Ken's fan club will finally realize they were taken and mislead, just like they mislead their former friends.
Yes, but I trade with Ameritrade and saw my trade go through with ETMM, so you really do not know who is using ETMM to clear.