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I was there. They did sound very confident and upbeat. But you came away with the impression. That this is going to be a 2 to 3 year deal.
Its always nice to see a man with a plan.
At the end of next week we will know what the market thinks of this stock.
My post # 5800 looks like it will be close. Maybe a little to optimistic. Might have to add a few months.
I am here for over two years. still sitting on close to two million shares. But over .28 I sell once in awile.
They did not try to cornor the gold market. They asked to be payed in gold at that time because the printing of dollars was getting out of hand. At that time the law said they had the right to be payed in gold. Not to mention that the US told them they would send the bombers in to Viet Nam and then did not. Which they then lost the war they were fighting. They were pissed then and are even more pissed now. Don't forget the US would not exist if it were not for FRANCE.
Well they did it again. Released a form D showing they had sold 323 million of new securitys. So I quickly picked up 120000 more shares. But the stock did not move. I called the company and was told it was a CLERICAL err. But not to worry. Because even thou bussiness has been only break even the last 6 months. They are sending the first crew to south Texas next week where they have lotsof work lined up. They only sold 323 thousand.
Give it up, your adding nothing to this board with these cheap shots.
For two years I have been sitting with this dog. One of the worst private placements I have ever been in. But it looks like they have turned the corner. No real profit yet, but sales are way up.Two more quarters and I think this gets to be noticed.
Thats not them. That is part of the former company. They bought the shell, that why there is a little overhang of stock that is being blowen out by the former owners of the shell.
Have been following this stock since I saw it at the MONEY SHOW in Florida, last January. Did lots of D&D. Waited for months for it to get all the ducks in a row. Wanted to get a large position so never posted or told any one about it. Started my buying when it droped below .20. Still buying. Picked up a 100000 to day. Even got the low of the day on a few. .17 average for the day. The part I like best is the patent has not been issued. Until its issued, no one can look at it to design around it.
BEST OF LUCK TO ALL THE OLD GUY
Hope me and you are still alive when it happens.
Every one is a trader. You bought this stock for only one reason. In the future you think you can sell it for more than you paid for it. Be it one day or one year, time makes no diffrence. You are a TRADER.
Ot. ??? I Don't understand it. I brought up the warrant page.But San Sold is not on it. Any help you can give would be appreciated.
Thats me, I put an order in for a million. thats all they would give me.
BOB do you know the symbol for the warrants and is there more than one class?
Not the one I was refering too. That one had 3 or 4 phones laying on a table with the popcorn seeds laying in front of them.Then they called the phones and the corn popped. But its close to the same thing. But does not have the effect you get thinking about that corn popping as you hold it to your ear.
I dont have it any more. But there was a video going around the internet that showed cell phones poping popcorn.
Intresting spread. The only problem is in 60 years of trading, I have found a spread to be a STICK WITH SHIT ON BOTH ENDS OF IT.
But the rest of your analysis is quite good.
While it may not connect for you,it does for me. Perkins was a large world wide tale. What was and was not done, changed many peoples lives. I apologize for poor spelling and composition. I dont see well and type with one finger. But in my younger days I was a force. I financed 18 start up companies. Only one do I still have a position in. It sells its products in, I think 48 states and Canada. I soon will be taking them to court. It makes no diffrence what size the deal or company is. The game is still the same. As Al Davis of the Oakland Raiders said,JUST WIN BABY JUST WIN. The only rules are, THERE ARE NO RULES. These people that start these companies intend to WIN. If hurting you or me helps them, so be it. As far as Petersen is concerned, the mere fact that he has an inkling of intrest. Tells me he sees something here. Will it ever come to fruition? Only time will tell.
BEST OF LUCK TO YOU
THE OLD GUY
I do not pay a lot of attention to this stock. I have a million shares at a four cent average.It is a small position for me so I don't worry about it. I know nothing about tecknology, can't even spell it. In fact I bought it on some ones recommendation. This Dr. Peterson is he part of this company ? The part that got my attention was the death bed confession. It brings to mind a book called, Confessions of an economic hit man. Worth the read. For me that statment was like an epiphany. It causes me to consider adding a few hundred shares. BEST OF LUCK TO ALL
THE OLD GUY
Bob what is making this turkey tank.
Not to throw rain on your parade. But the goverment orders don't mean too much. By law they have to buy, I think its 10 or 20 % from small companies. When we see the private sector orders, then we will know if this TURKEY will fly.
Yes. I also was buying today. I do not expect that much out of this quarter. No I did not talk to any one. But having played this game for over 60 years, you get a feel for these things. Also financeing 18 start ups over the years gives you a perspective of how long it takes to get them up and running. The next one should be the one that puts this turkey in play. But they will have 90 days to realease figures. So be prepared to sit tight for 6 more months. Best of luck to all.
First let me say I have a love for that mine going back to 1960. It was then owned by ASARCO. Its not a silver mine. It is a base metal mine. LEAD and ZINC. At the present run rate if SILVER goes up a dollar an oz. It only adds 200,000 to the bottom line. If ZINC goes up .10 cents a lb, it adds one million 200 thousand to the bottom line. They are not even running at 50 % yet. This is a long term hold.Will double this year and double the year after. If the SILVER price takes off it will be a winner. If it does not, it will still be a winner. This is old, there are now more shares out. The ratios may change a bit, but it is still the same premise. The properties that they just got with the merger have even more zinc than their present mine.
Me thinks Total package is buying with both hands. He seems bright enough to know they can not release any news while a SEC review is taking place. If they did the review has to start all over. As soon as they are done the news shall come. With the budget cuts the SEC is under staffed. They are way behind. It will have to be in the next 30 days. They have to report the third quarter by August 15. BEST OF LUCK TO ALL
They say there is no fool like an old fool. So despite the fact that I own way too much of this stock. Today I bought more. If you belive in this stock even a little bit. You can not pass up adding or starting a position at these prices. This stocks price is just reflecting the general mood of the market and flight to quality. It is times like these when great fortunes are amassed.
BALLS CRIED THE QUEEN IF I HAD TWO OF THEM I WOULD BE KING.
IT IS BETTER TO LIVE A LIFE OF ONE SECOND AS A KING
THAN A THOUSAND YEARS AS A SERF. I WILL NOW STAND ON ONE LEG HOLD ON TO MY LEFT BALL AND PRAY TO GOD THAT I HAVE DONE THE RIGHT THING BEST OF LUCK TO ALL
THE OLD GUY
I was not there. I heard it third hand.That at a investment confrence the CEO stated that he thought the market for their products was so large that he could take the share count up to 200 million. This was a responce to how they were going to finance the growth. I have also heard at that point some large investors who were in very cheap took profits. It was said they agreed the market was there but will they be able to get enough of it. I am still holding 98 percent of my position. I have no sell orders in under 58.4. The way it shakes out for me. He had two choices. Reverse split it ten million share, or dilute. Hope hes making the right choice or maybe it was his only option. Time will tell. BEST OF LUCK TO ALL THE OLD GUY
You have one former officer who has 14 million shares to sell. He is only allowed to sell 1.2 million each quarter. Unless some institution comes in and takes them it will be awhile. With SANTOS drilling a deep well in the third quarter and having a 98 percent success rate on their deep wells, it looks like the end of the 4 quarter before we will see a decent move.
We have a Friday buy rule. Next week should be very intresting.
The company issued a new prospectus which includes the exercise numbers on the 4/10 warrant issue as well as the numbers of warrants outstanding on the 4/30 and 9/8/10 warrant issues. I know many people don't like to read this stuff, so I will summarize here.
The number of warrants exercised from the April 10, 2010 warrants was 2,447,387 yielding 1,443,000 approximately.
The warrants outstanding expiring on 4/30/10 are 3,559,323 at .59. There are 4,000,000 warrants outstanding expiring on 9/4/10 at .95.
There is a list of the names of the warrant holders on page 16. Hunziger and Haywood are there. You may want to look to see if you recognize anyone else.
These 3.4 million pending shares, may be depressing the market at the moment. It also may account for the huge spread. If you were an MM would want to be holding a bunch of shares if 3.4 million suddenly appeared on the sell?
If this is the problem, the market may loosen up late next week.
Relax, the MMS were forced to sell three million shares that they didn't have. As soon as they reload we will resume our upward trend.
Scorpio Mining Provides Future Production Outlook
April 21, 2010 – Scorpio Mining Corporation (“Scorpio”, or the “Company”) (TSX: SPM), wishes to outline its planning and future outlook with respect to the Company’s Mexico operations and intended production increases.
Peter J. Hawley, Chairman, CEO reports, “The Company is in the process of finalizing an expansion plan for its Mexico operations. Metallurgical work and flow sheet design completed by SGS Lakefield Research show that the San Rafael mineralization (Platte River project) reports a lead concentrate that grades 58% lead and 680 g/t silver with 78% recovery, and a zinc concentrate that grades 51% zinc and 128 g/t silver with 82% recovery. The current plan is to install a second circuit for the San Rafael material at the Nuestra Señora (Cosalá) mill facility, at a normal throughput of 2,500 tonnes per day (TPD). This new circuit, together with the existing circuit of 1,600 TPD, will easily handle the planned 2012 production increase to 4,000 TPD. The Cosalá mill facility was originally designed for expansion and the existing primary crushing system and conveyors are more than sufficient for the 2012 ramp up. Modifications required for the expansion include the installation of an additional ball mill, flotation cells, thickeners, regrind mills and various pumps. The Company expects the plant expansion to be cost effective and completed by the end of the second quarter of 2011.”
“In February 2008, an in-house Preliminary Economic Assessment Study (PEA) by Mine Development Associates of Nevada for Platte River Gold Inc. (now a wholly owned subsidiary of Scorpio) looked at open pit mining of the San Rafael body at a rate of 3,000 TPD. The Company has initiated work to augment the PEA for a pre-feasibility level study (“PFS”) and design for a minimum of 2,000 TPD mining operation. To this end, the Company is in final planning for open pit infill drilling for mine planning, condemnation drilling for waste rock disposal, and geomechanical and hydrogeological drilling for rock mechanics of the pit walls and any potential water flow in the pit area. The results of this work will be incorporated in the final PFS, which is expected later this year. Importantly, the land on which the deposit sits is 100% owned by Scorpio, which will help accelerate the estimated 3-month permitting window.”
“In closing, the Company has begun an aggressive expansion program aimed at reducing operating costs while increasing metal output over the next 2.5 years, at which time it expects to achieve intermediate producer status with respect to metals produced.”
Forecast for the Year 2010 Metal Output:
First quarter mill throughput exceeded the budgeted rate of 1,000 TPD at an average of 1,173 tonnes per operating day.
Yearly throughput is budgeted at 30,000 tonnes per month (TPM) or 330,000 tonnes per year (TPY) based on 330 days operating; a 52% increase over 2009 output of an average of 660 TPD based on 330 days per year.
Lead output is expected to increase by 43% to ~6 million pounds from the 2009 output of 4.19 million pounds.
Zinc output is expected to increase by 49% to ~13 million pounds from the 2009 output of 8.75 million pounds.
Copper output is expected to increase by 1% to ~1.2 million pounds from the 2009 output of 1.19 million pounds.
Pure silver output is expected to increase by 6% to ~635,000 ounces from the 2009 output of 600,000 ounces.
Silver equivalent ounces* are estimated to total ~2.007 million ounces; a 25% increase from the 1.60 million ounces silver equivalent in 2009.
Forecast for the Year 2011 Expansion and Metal Output:
Daily mill throughput is estimated to be 2,100 TPD; an increase of 110% from the estimated 2010 mill throughput of 1,000 TPD.
Yearly throughput is budgeted at 726,000 TPY based on 330 days operating; a 120% increase from 2010.
Lead output is expected to increase by 107% to ~12.4 million pounds from the forecasted 2010 output of 6 million pounds.
Zinc output is expected to increase by 106% to ~26.8 million pounds from the forecasted 2010 output of 13 million pounds.
Copper output is expected to increase by 150% to ~3 million pounds from the forecasted 2010 output of 1.2 million pounds.
Pure Silver output is expected to increase by 86% to ~1.18 million ounces from the forecasted 2010 output of 635,000 ounces.
Silver equivalent ounces* are estimated to total 4.1 million ounces; a 104% increase from the forecasted 2.007 million ounces silver equivalent in 2010.
Forecast for the Year 2012 Expansion and Metal Output:
Daily mill throughput is estimated to be 4,000 TPD; an increase of 90% from the estimated 2011 mill throughput of 2,100 TPD.
Yearly throughput is budgeted at 1.32 million TPY based on 330 days operating; an 82% increase from 2011.
Lead output is expected to increase by 45% to ~18 million pounds from the forecasted 2011 output of 12.4 million pounds.
Zinc output is expected to increase by 46% to ~39 million pounds from the forecasted 2011 output of 26.8 million pounds.
Copper output is expected to increase by 60% to ~4.8 million pounds from the forecasted 2011 output of 3 million pounds.
Pure silver output is expected to increase by 61% to ~1.9 million ounces from the forecasted 2011 output of 1.18 million ounces.
Silver equivalent ounces* are estimated to total 6.22 million ounces; a 52% increase from the forecasted 4.1 million ounces silver equivalent in 2011.
* Metal prices used to calculate silver equivalent ounces are as follows: Lead US$0.80 per lb; zinc US$0.80 per lb; copper US$2.20 per lb and silver US$13 per ounce.
More information on the Platte River acquisition and its mineral properties can be found in the Company’s Management Information Circular, dated January 8, 2010 and filed on SEDAR at www.SEDAR.com.
Further information is available on the Company’s web site at: www.scorpiomining.com.
President, Mr. D. Roger Scammell, PGeo, is the Company’s Qualified Person for the Nuestra Señora and Platte River projects and has reviewed the content of this release.
ON BEHALF OF SCORPIO MINING CORPORATION
Peter J. Hawley
Chairman & CEO
For further information contact:
Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outside North America)
Email: yes@yesinternational.com
This news release includes certain statements that may be deemed “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Scorpio Mining Corporation’s commitment to, and plans for increasing production. Generally, these forward-looking statements can be identified by the forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “projects”, “intends”, “anticipates”, or “does not anticipate”, or “believes”, or “variations of such words and phrases or state that certain actions, events or results “may”, “can”, “could”, “would”, “might”, or “will” be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Scorpio Mining Corporation to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and development and operation of the mineral projects, risks related to international operations, construction delays and cost overruns, the actual results of current exploration, development and construction activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of silver, zinc, copper, lead and gold, as well as those factors discussed in the sections relating to risk factors of our business filed in Scorpio Mining Corporation’s required securities filings on SEDAR, including its Annual Information Form dated March 29, 2010. Although Scorpio Mining Corporation has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Scorpio Mining Corporation does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
TSX.SPM
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GO BABY GO. Get to 1.28 so I will be back to even on my 200,000 shares. Love this stock, but I did put the trade on poorly. Since I knew this property 50 years ago.I let my heart get in the way of my head on timeing. Best of luck to all.
Big day. New Friday buy rule on Iweb MNAP and SPM. A few more days like this and Grandma can get that operation. Best of luck to all.
If we can close higher than yesterday, we will have a new Friday Buy rule. Which to me is very impressive. Also chance of buy rule on SGR and PMI today.
Maybe I should hold on to my last 200 shares.
Nice call. You came close, with no new news to move it.
Not good to change goverments where the company has oil intrests.
There will be sellers at .265 today.