Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
You should see the paperwork for the permit applications.
Here is an MPO from another mine on BLM and USFS land in Arizona. This one is probably 100-200 pages.
http://www.rosemontcopper.com/mpo_official
SIRG's MPO was approved in June.
Yesterday I called FINRA to ask what a SAS Review was. The first 2 people transferred me to a 3rd person who then put me on hold for about 10 minutes.
This told me that this is pretty rare.
She came back on and said a SAS Review is needed for approval of an accounting company change.
SIRG changed to Marcum, we all knew that. They need to apply to FINRA and have them review Marcum and approve them as properly registered and then give their approval for SIRG to change accounting firms.
Just a matter of more paper work.
Waiting to see why symbol SIRG has tomorrow.
I posted that my first post on GDSM was Nov 9th months before you arrived. FACT!
Good then you know what a SAS Review is.
Nice but let's be honest. There are 94 negative posts authored by $b_rich$
Does Redshirt1 own restricted shares here too? LOL! Ok...I'll be back tomorrow:) Have a good night!
I was not the mod but that post should have been removed. It clearly is off topic and personal.
Impossible for them to correct the symbol in the middle of the day but OTC Markets put them back to QB - and that's a fact.
SIRG has a grace period until Sept. 26th.
Is there anything that is true in this pump promotion?
GRASS ROOTS RESEARCH AND DISTRIBUTION, INC.
#1 Small Cap Research
Firm, Powerful Distribution
Copyright © 2012 by Grass Roots Research and Distribution, Inc. All rights reserved. This report may not be reproduced.
June 05, 2012
Cohen Price Index Target $0.10
Please Read Disclaimer on Page # 30
GEAR International Inc (OTC BB: GEAR), directly and through its associates, in engaged in mining of gold, silver and other precious metals. The focus of the Company is to provide complete Mining services in exploration, extraction and refining within the precious metal sector, across the major markets worldwide. GEAR is in an expansion phase and is establishing new markets in the Philippines, Middle East and Africa in addition to aggressively expanding its operations in United States.
During the last 12 months, the Company completed the majority acquisition of Western Sierra Mining (OTC BB: WSRA) and entered into a joint-venture agreement to develop the prolific Silver Cord Mine in Arizona. This major acquisition has resulted in the Company significantly increasing its asset base and improving its balance sheet. The group encompasses a wide area of experience including Western Sierra Mining with over 100 years of mining experience in Arizona. The staff of GEAR is knowledgeable in all the relevant areas of the group’s business as well as site planning, code compliance, engineering/material science and logistics.
Quality assets, excellent cash position, superior business model, experienced management and attractive gold market dynamics are all contributors to future success. Our conservative estimates forecast revenues to grow from $0.12million in FYE December 31, 2012 to approximately $39.0 million by FYE 2018. Based on these projections and provided that the Company raises the required equity capital, our Cohen Target Price is 297.7% higher than the current price.
Symbol GEAR
Exchange OTC BB
Current Price $0.025
52 Week High/ Low $0.18/0.0005
Last Trade Volume 1,487,538
Shares Outstanding (in mil) 147.9
Current Market Cap (in mil) $4.14
Float As % of Shares Out. 76.65 mil
Here is SIRG's Senior VP of Operations who is in charge of returning the mine to production.
Nice to be able to attach a face to a name.
Travis Snider's Overview
Current
Senior Vice President of Operations at Sierra Resource Group Inc.
Director at Alliance Mining Corp.
Past
Senior Professional at Kleinfelder Inc
Director of Mining at Wilcox Professional Services
Education - Arizona State University
Senior Vice President of Operations
Sierra Resource Group Inc.
January 2012 – Present (3 months)
Sierra's primary asset is 80% ownership of the Chloride Copper
Mine (AKA Emerald Isle Mine) on BLM land near Kingman, Arizona.
Director
Alliance Mining Corp.
August 2008 – Present (3 years 8 months) Vancouver, Canada Area
Alliance Mining Corp.,TSX.V: ALM is a Vanvouver based TSX Venture -listed junior mining company that has a portfolio of past producing mines in the mineral rich transitional zone of central Arizona.
Senior Professional
Kleinfelder Inc
Privately Held; 1001-5000 employees; Civil Engineering industry
January 2009 – February 2011 (2 years 2 months)
Director of Mining
Wilcox Professional Services
Privately Held; 201-500 employees; Civil Engineering industry
June 2004 – October 2008 (4 years 5 months)
Travis Snider's Education
Arizona State University
BS, Environmental Chemistry
1999 – 2004
I did more research on SIRG and found this list.
http://www.otcbb.com/DailyListContent/delisti...Report.pdf
Check out the list, SIRG is the only company with the SAS Review.
They have a grace period until 9/26/2012
SIRG is back to QB with a grace period until Sept. 26.
http://otcbb.com/asp/dailylist_detail.asp?d=08/27/2012&mkt_ctg=ALL
WRONG AGAIN - Check it out
Sierra Resource Group, Inc.
http://www.otcmarkets.com/stock/SIRGE/filings
SIRG IS QB SO MAYBE THE PROBLEM IS CORRECTED.
SIRG progress IN 2012
January 25, 2012, representatives of Rizzo Associates completed a site visit of the Chloride Copper Mine. The Rizzo Associates team consisted of Dr. Ananda (Andy) Chakrabarti, Senior Consultant, and K. Michael Cline, Principal Geologist. The purpose of the site visit was to provide an independent assessment of the plant, mill tailings, and general site conditions for supporting the Company in bringing the existing SX/EW Plant at the Mine back into full operation. The Plant has been idle since 1996.
On February 21, 2012, Rizzo Associates issued a “Trip Letter Report to Assess Status of the Chloride Copper Mine” to the Company. According to the “Trip Letter Report: “The SX/EW Plant is in good condition; however, in need of minor refurbishment and the replacement of some supporting equipment, but most of the equipment can be used and the Plant can be brought back into working c ondition within a reasonable timeframe and limited expense. ” The Company has not currently defined “reasonable timeframe” or “limited expense.”
“We are extremely pleased to have the Rizzo team working to bring the mine back into production and beginning work to improve the accuracy of our reserve estimate,” says J. Rod Martin Chief Executive Officer of the Company.
On May 2, 2012 , the Board of Directors of Sierra Resource Group Inc. by unanimous written consent appointed Barton R. Budman and Carlos F. Cardon to its Board of Directors.
Mr. Budman is a Certified Public Accountant licensed in the state of Florida. Since 2007, Mr. Budman has served as the Chief Financial & Operating Officer for a world renowned mega-yacht manufacturer, chartering company, and real estate investment & development organization, Broward Yacht & Marine / LPI Holdings, LLC with total annual revenue in excess of $135 million. Mr. Budman holds dual BBA degrees in accounting and finance as well as a Masters of Business Administration from the University of Miami.
Mr. Cordon is the Commercial liaison, since 2011, for the development of telecommunications, mining and energy projects between the Chinese Government Foreign Development Agency and the Central American Business Community. Founder and Director of Tacontento International Corp, a chain of Mexican restaurants with more than 20 locations in five countries. Founder and Director, Los Ranchos, Guatemala, 1994-2011, a steak house chain, with more than a dozen location in 4 countries, including several locations in south Florida. Founder and Director, Yogen Fruz, Central America, Central American Franchisee, 1992-2011, Yogen Fruz is a publicly traded Canadian company and one of the largest frozen yogurt franchising companies in the world. Founder and Director, Mayan Republic Brand, Guatemala, 1985-1995, a merchandiser of hand loomed textile clothing exported to the US and Europe.
June 1, 2012 Sierra Resource Group, Inc. ( OTCBB : SIRG) announced today that it plans to launch its new website in June. Sierra engaged Miami based IT firm, Ingenium Solutions, LLC, to design and build the Company's new website, which will feature easy access to the latest Company news, descriptions of the Sierra's mining properties, resource reports and operations, and a separate section for investor information, including direct links to SEC filings and corporate governance policies. Ingenium is a well respected, total service IT firm that will be handling all IT work for Sierra in the future.
"We are very pleased with the design work of the firm, Ingenium Solutions, LLC, and the special attention its President Antonio Manueco gave to the project," said J. Rod Martin , CEO of Sierra.
Mr. Martin added: "Sierra intends to use its website http://www.sierragroupinc.com as a means of disclosing material information and for complying with its disclosure obligations under SEC Regulation FD. Such disclosures will be included on the Company's website under the headings 'Latest News'. Accordingly, investors should monitor such portions of the Company's website, in addition to following the Company's press releases, SEC filings and public conference calls and webcasts."
June 6, 2012 - SIRG hosted a Town Hall meeting in Chloride for the locals, BLM agents and government officials.
June 6, 2012, the Company signed a Letter of Intent (“LOI”) with Upward Investments, LLC (“UI”) for the purchase of UI’s 90 acres of land adjacent to the Company’s existing claims. The Company would like to acquire UI’s property for the Company’s mining operations. Further representations and warranties shall be included in the to be drafted Definitive Agreement.
July 2, 2012 - When countersigned by each of the parties, this Letter of Intent outlines the general terms as of the 2nd day of July, 2012 for the agreement by and between SIERRA RESOURCE GROUP,INC., a Nevada Corporation, hereinafter referred to as (“SIRG”) and MEDINA PROPERTY GROUP, LLC, a limited liability company incorporated in Florida (hereinafter referred to as “MPG”)
It is intended that SIRG and MPG shall, subject to the terms set forth herein and in the “Definitive Agreement”, enter into the following terms regarding the Chloride Copper Mine, in Kingman Arizona:
WHEREAS, MPG is the owner of a 20% interest in The CHLORIDE COPPER MINE, a mining concession which lies approximately 24 km northwest of the City of Kingman, Arizona, and some 160 km (100 mi) southeast of Las Vegas, Nevada, or 275 km (172 mi) northwest of Phoenix, Arizona. The geographic coordinates of the property are 35° 21’ N Latitude and 114° 10’W Longitude (T22 and 23 and R 18). The Chloride Copper Mine copper deposit is situated within the Chloride Copper Mine Property, which includes 37 Unpatented Lode Mining Claims and 14 Mill-site Claims, covering a total area of approximately 178 ha.
AND WHEREAS “SIRG” would like to increase its interest ownership of the Chloride Copper mine to 90% interest in the “Chloride Copper Mine”, for development,
NOW THEREFORE, the Parties hereto hereby agree as follows:
I. Upon execution of this Letter of Intent, MPG hereby agrees to:
1.
Provide a good faith non refundable deposit of $6,500 upon the signing of this agreement and on each 1 st of the month up to the closing date. SIRG shall not be responsible for any deposits incurred after the closing date.
2. The parties will diligently and in good faith negotiate a definitive agreement (the “Definitive Agreement”) incorporating the principal terms of the contemplated transaction as set forth herein and, in addition, such other terms and provisions of a more detailed nature as the parties may agree upon. In the Definitive Assignment Agreement, each of SIRG and MPG will make such representations and warranties are customary in transactions of this nature. All representations and warranties will survive the closing of the transactions contemplated herein and any and all investigations at any time made by or on behalf of the parties. The Definitive Agreement shall be completed and executed on or before October 1, 2012 (the “Closing Date”), unless both parties agree to an extension not to exceed 10 days.
3. Certify the Certificate of Ownership, titles and other required information.
4. Provide any and all documentation proving its compliance with the laws governing mining in Arizona and the United States of America.
II. TERMS OF AGREEMENT:
SIRG will pay the sum of $1,500,000 (ONE MILLION FIVE HUNDRED THOUSAND USD) in the following manner:
1. $1,500,000 at closing in the form of a wire transfer to MPG’s assignees or designees.
2. SIRG shall deliver a certificate(s) totaling 20,000,000 shares of Class A Common Stock of SIRG upon signing of a definitive purchase agreement to the assignees of MPG.
3. SIRG shall deliver warrants granting MPG or its assignees the right to purchase 20,000,000 shares of Class A Common Stock of SIRG at an exercise price of $0.27 per share with an expiration date of ten (10) years following the signing of a definitive purchase agreement.
4. MPG shall deliver Deed and Bill of Sale representing 50% of its interest in the Chloride Copper Mine.
July 25, 2012 Sierra Resource Group, Inc. engaged Marcum, LLC (“ Marcum ”) as its new independent registered public accountants , effective July 25, 2012. The decision to change accountants was recommended and approved by the Company’s board of directors. This action effectively releases Tarvaran, Askelson & Company, LLP (“ TAC ”) as the Company’s independent auditor.
8/15/2012 @ 4:05PM SIRG) (the "Company" or "Sierra") announced today that its Mine Plan of Operation has been reviewed and accepted by The Bureau of Land Management. This formal acceptance has allowed Sierra to submit its draft Environmental Assessment in order to comply with the National Environmental Protection Agency. "We're working closely with The Bureau of Land Management and the interactive process is positive," said J. Rod Martin , CEO of Sierra.
Sierra Resource Group awards contract for its Aquifer Protection Permit Transfer and Modification
Aug 14, 2012 - On or about January 2012, the Depository Trust & Clearing Corporation (“DTC”) suspended post-trade settlement services (known as “Global Lock” or “Chill”) for our securities. Upon our inquiry, the compliance department at the DTC advised us that the Global Lock had been instituted due to their uncertainty about the valid issuance of shares of our company held in street name under their nominee Cede & Co. Our management subsequently provided documentation necessary to lift the Global Lock, and on August 14, 2012, the DTC advised us that they had resumed accepting deposits of the Company’s stock for depository and book-entry transfer services.
Aug. 21, 2012 -- Sierra Resource Group, Inc. announced today that on August 1, 2012 it awarded the transfer and modification of its existing Aquifer Protection Permit to CDM Smith (www.cdmsmith.com) a full service, consulting, engineering, construction, and operations company that guides clients across the project life cycle in water, environment, transportation, energy, and facilities.
"We looked at a host of well qualified companies to handle this very important permit process and feel confident in our selection of CDM Smith," said J. Rod Martin, Chief Executive Officer of Sierra.
CDM Smith will prepare all materials for permit transfer, will prepare the BADCT demonstrations for the new facilities as contemplated by Sierra for future operations, will prepare the Amendment (Modification) Application package and final application for submittal and will fully manage the project to completion including handling all meetings with ADEQ and Sierra.
"CDM Smith is well versed in this type of permitting and its inner team has a wealth of experience in dealing with ADEQ," said J. Rod Martin, Chief Executive Officer of Sierra.
8/23/2012
SIRG announced today that the Depository Trust & Clearing Corporation has advised Sierra that the Depository Trust Company has determined to lift the Deposit Chill on the Company's stock and has resumed accepting deposits of the Company's stock for depository and book-entry transfer services. "We are pleased with this determination and know our shareholders will be too," said J. Rod Martin , CEO of Sierra.
SIRGE Sierra Resource Group, Inc.
SIRGE HAS NOT BEEN DOWNGRADED!
http://www.otcmarkets.com/stock/sirge/quote
Approximately 6-8 months ago I ran an SEC scan for Asher and counted over 800 companies that they have notes with.
Nobody has time for that and its a simple fact that hundreds of start-ups rely on equity funding to raise the money to start their company. Some make it, others die the death spiral.
There is a misunderstand alright but it is not on SIRG or Rod.
Rod DID NOT FORGET ABOUT THE PERMITS. That process was started in Dec/Jan.
SIRG has NEVER been downgraded twice. And they were downgraded on Aug 15th by mistake as they filed an NT on the 15th as required. Someone else made the mistake.
Again false and misleading statements posted!
Probably about as real as the previous two JVs with WSRA were back in 2009 and GDSM has been trying to grow for over 3 yrs.
Clearly there is a misunderstanding here.
SIRG filed their NT on Aug 15 as required.
SIRG filed their 10Q on Aug. 21 - prior to their extension time limits.
SIRG IS NOT LATE ON ANYTHING.
Mr. Chaffee stated that they had put the USFS road widening and grading project out for bids. Before any work on that ATV trail can be done WSRA/GDSM needs a USFS permit to perform any work and I believe they will also need a heavy load permit. If there are any trees or vegetation that require removal they may require a report listing every plant that must be removed and 2 miles is a long trail.
Here is a link to the website so those interested can track any permit applications.
United States Department of Agriculture Forest Service
http://www.fs.usda.gov/main/prescott/passes-permits/other
Good morning Salty,
Only 3 days left in August - leaves just four months until 2013 and SIRG gets production started.
Sorry my bad - not enough zeros, he bought around April 8th at .0015-.0018. SIRG closed yesterday at .008 so his holdings are at $160,000. I call that very impressive. I know he bought more shares but not how many.
Marc's brother, Paul Lovito was pumping GDSM on Twitter! Maybe Paul still has some shares left to dump.
Yes and it is too bad for GDSM shareholders. I asked him why he bought so many shares and he told me he got a phone call and was in a hurry and failed to check the company out.
Check the statistics during the week of Aug 14-17 - GDSM closed red every day!
SIRG closed green every day! I am sure you can figure it out.
He bought 20M shares of SIRG between .015-.018. Very smart purchase. With SIRG trading in the .008 range how green is he?
Marcum LLC is among the top 15 accounting firms in the nation. That is fact.
The question is - WHY WOULD SIRG SELECT SUCH A PRESTIGIOUS ACCOUNTING FIRM? No OTC company needs an accounting firm of that level unless someone required it or they are planning on growing into a much larger company.
An example that I know of is Hank Greenberg, chairman and CEO of C.V. Starr and founder of AIG. When he invested in CCME he required them to use Deloitte & Touche, today known as Deloitte. He also demanded a seat on their BOD.
Why is this board limited to discussing Asher when there are a dozen other companies that provide exactly the same type of equity financing?
Perhaps a better name for the board would have been Convertible Note Funders or something a little broader.
AGS Capital Group, LLC provides flexible equity financing solutions for growth-stage and small cap public companies as well as private companies looking to go public. AGS Capital Group, LLC invests in public companies around the world listed on most exchanges. AGS Capital Group, LLC performs fundamental analysis including credit risk, technical analysis of market trends and industry, evaluation of management team experience and corporate structure evaluation. Additional information may be found at www.agscapitalgroup.com
Yes I said GDSM has a large shareholder who will be dumping shares.
Here are some clues for you.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77543457
GDSM shareholders treated him with disdain.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72753298
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72750958
So if he bought On March 1st he paid .008 to .01. That would be a good sized loss.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71923882
On the SIRG board it has become a requirement that proof be provided for statements made by posters.
Agree, simply a matter of FINRA approving SIRG's change of accounting firms and since MARCOM LLC is one of the 15 largest accounting firms in the US there is no reason they would not be approved.
Like I stated earlier, MARCOM is a top tier accounting firm and not the normal level used by OTC companies. I am guessing SIRG is their only OTC client.
Actually it may have something to do with the funding. Previously I was invested in a company and the funding company required that they use Deloitte.
Not curious at all. Those in the know - know that nodummy started a new stock promotion business and didn't have the time anymore.
"The penny stock world is drowning in fraud. Most investors that risk their money investing in penny stocks end up learning expensive lessons about trading by becoming a victim of some kind of fraud. We work hard to uncover the fraud and teach our traders how to avoid being scammed. It is much easier to make money in this market if you understand what you are up against."
Join Promotion Stock Secrets
http://investorshub.advfn.com/Promotion-Stock-Secrets-25253/
Amazing what a pump can do for a company share price. Only problem is they are not worth $30M when their assets are less than $1M! Overvalued it cannot sustain that price any more than GEAR could sustain .18 last fall.
What do you think will happen to GEAR when they have to reveal that they do not have control of WSRA and have to remove all of WSRA's assets from their Financial Disclosure Statements?
They may need to file an Amended Financial Disclosure Statement for the 1stQ and perhaps that has caused GEAR to be so late in filing.
At least it appears that the dumping may have stopped.
J. Rod Martin is the CEO of SIRG. He is a very busy man and does not have time to chat. He is building a company.
Can you imagine how destructive it would be for his day if he answered every call from every investor, much less non-investors. There are over 300 shareholders!
Rod knows who the shareholders of Sierra are.
Try calling the CEO of Freeport-McMoRan!
Is this any different than Asher?
Effective August 2, 2012, the Registrant issued a $100,000 Convertible Promissory Note to Tonaquint, Inc, ("Tonaquint", or “the Lender”). The Note carries a $10,000 original issue discount (the “OID”), as well as $3,000 in transaction fees, such that the initial Principal Sum due is $113,000.
The interest rate on the Note is 8% per annum. The Note has a maturity date of nine (9) months from the Effective Date, and has a fixed conversion price of $0.06. The Note is self-amortizing, such that it may be repaid in cash in three monthly installments of $37,666.67 plus accrued interest beginning 180 days from the Effective Date. In lieu of cash payments, the Company may elect to convert the note to shares at 70% of the arithmetic average of the three (3) lowest VWAPs of the shares of Common Stock during the ten (10) consecutive Trading Day period immediately preceding the date of such conversion. No conversion can occur prior to 180 days from the Effective Date. In addition, the Company retains the option of pre-paying the Note at any time at an amount equal to 125% of the outstanding principal and the accrued and unpaid interest.
In connection with this transaction, a commission has been paid to Carter Terry & Company, a registered broker-dealer, consisting of $10,000 in cash and 85,000 restricted Rule 144 shares of common stock.
The Note referred to above (and the shares of NBRI, underlying them) is exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended.
The above described executed Note and Securities Purchase Agreement are attached hereto and incorporated by reference as Exhibits 10.1 and 10.2.
PRTN Alert!
We've just received notice that shares of Pristine Solutions, Inc. (PRTN), the current Awesome Penny Stocks promotion, has had a "Chill Order" placed on it by the DTC.
Owned by many financial companies including the New York Stock Exchange, the DTC acts as a clearinghouse for stock exchange securities, settling trades in corporate and municipal securities. If the DTC has cause to be concerned about a specific security currently processed through its system, it may place a "chill" status on the security. This will restrict brokerages' ability to transfer the shares or units of the security through DTC until the security's issues are cleared up or it ceases trading on the market.
Be careful out there!
www.pumpsanddumps.com
To each his own - GDSM has more red flags than the Chinese Army.
Continued dilution - 25M more in June dumped by company
Don't know how many more were dumped in July.
False PRs and statements - going to uplist and NI 43-101 being done
Jenkins and Chaffee on the BOD - conflict of interest
CEO with a record of 10 failed companies under his belt
CEO with a horrible financial failure history, evictions, judgments, tax liens, lawsuits, and who knows what else.
Failed to file financials on time AGAIN
Refuses to release the bucket test results
Notes with no info - interest rate, note holder, dates, etc.
Legal debt settlement - is this why GDSM keeps dumping shares?
Understand ignorance is bliss!
When SIRG gets the APP permit and the funds are released what flag will you wave?
When Jenkins and Stoddard are charged and fined and all their reports are void what flag will you wave?
Below is exactly what they are under investigation for. Proof that working as a geologist or mine engineer in Arizona without being registered is against Arizona law.
Even beauticians must be licensed and registered!
SIRG changed accounting firms to Marcum, one of the 15 largest accounting firms in the US. It is my guess that SIRG is their only OTC client as Marcum is far about the level most OTC companies use.
Apparently neither SIRG nor Marcum was aware that an accounting company change must be approved in a SAS Review.
http://investorshub.advfn.com/boards/read_pmsg.aspx?message_id=79009818
This will help explain further.
http://www.nysscpa.org/cpajournal/2004/204/essentials/p42.htm
Welcome to the world of the OTC and the SEC rules.
It should be in GDSM's filing if they ever file.
I believe SIRG is Marcum's only OTC client and both were not aware of the rule that an accounting firm must be approved. It is being dealt with. Welcome to the OTC tier of reporting companies but not to worry, doubt GDSM will ever get there.
Did it occur to you that GDSM has a very large shareholder who is dumping shares and will continue to dump? I am blocked so can't tell you more! Remember the week of Aug. 13 - 17th - why do you think GDSM went red every single day? SIRG was green every single day. Figure it out?