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I guess it remains to be seen if they really do have thier ducks in a row. I was actually talking about the quality of thier website. It is way outdated and looks to me like it has never been updated since inception.
However, to say they have thier ducks in a row is not a fair statement to a new investor. The biggest thing would be the mill engineer, here is the head honcho that is to be in charge of the operation of the mill and for that matter and in the case of SFMI the only revenue producing entity that they have. They have placed the entire future of the company on this mans shoulders. Now they have never disclosed to the shareholders who this feller is or what his qualifications are. One big duck out of the row.
They have continuously moved ore around on site and even off site so that we can not tell or they think we can not tell what is moving through the mill. The original low grade ore was piled on site then moved off site after they had only ran a few small tests. The IR man has said he believes the processing rate to be xxxtpd, he does not know,he assumes that is the rate. More ducks out of line.
I can go on and on about all the half truths and misteps that have be presented to the shareholders. NO I don't think they have thier ducks in a row at all. JMO
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I am still here, as I have been for so long. I have not reduced my position and have no intentions of doing so. I have said many times before that I am in until the end no matter what those thieves try to do to us. This tidbit today can be construed as perhaps the beginning of the shareholders revenge. GLTA
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Wow, now its 3.5 months . Your Last post said you bought in back in Nov of 2007 I am confused, just how long has the company been in business???
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Ya well the thing is everything about SFMI is old, thier website is as old as anything else. No updates, no effort at all to enhance or update the website for new investors. There is no info about the mill or even the mill in Melba. Take a look at some real mining companies, they have updates on thier websites everyday that lets the shareholders know about the companies progress. SFMI still just has the original bull about the mountain and the dirt piles. Whats the big secret, if things are moving ahead, get it out there so investors can make sound decisions.What a joke, lousy website. JMO
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I admire you fellows gumption and desire to strike it rich in the old frontier. Prospecting, I think almost everyone thinks about it at one time or another, I did it myself many years ago and yes there is gold out there to be had. All it takes is hard work. In todays society there are not many who have you fellows desire to put forth that effort to obtain a few ounces of gold, yes you will get some but you will work for it. The mosquitos will also be happy that you have such desire and perseverence to extract this golden treasure. Will you ever find the mother load? Not likely but you will have some great fun and work up many sweats looking for it. I hope you have a nice setting with a creek full of fresh trout to make your evening meals a joy, thats what we had and it is a good memory of a great time in my life. However after the third season it became more of a second job, and a damn hard job, so I lost my gold fever. I wish you guys well, I hope you can make it fun and above all else I hope you do find what you so desire, huge nuggets that you can just sit and look at and laugh your heads off. GLTY
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Carmine,
I hope you really believe that if you are heavily invested here, cause until it does change the share price will remain in a downtrend. They have shown nothing at all to gain investor confidence, no one knows what the through put rates are at the mill or if in fact they are even processing ore at this time and if they are, no one knows what the recovery rates are. Now I maintain if they are in fact processing at a continuous daily rate and have a decent recovery, they would be shouting from the roof tops. I guess some info will surface at the shareholders meeting but don't expect it to be as good as all on this board think. JMO
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First things first, lets just hope we can keep some of our shares intact. If we are lucky enough to hold onto some shares in the reorganized Co. then it won't be long until they are trading in line with Kronos and anything coming from the other crooks will be just gravy for us.I am hoping for at minimum 20% and maximum 100%. To be very honest it should be the latter because at one time we did have enough shareholder equity to very easily handle that amount. I am afraid it will be considerably less now as the lawyers and accountants have got thier dirty little fingers on most of OUR money. That is the biggest problem with Ch11, the poor folks end up paying all the fees for the rich folks, they should make the big dogs put some meat in the stew in these cases.JMO
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You go ahead and do a little more digging and you will find all the info needed in black and white.JMO
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I agree, there are many different requirements of a smelter, however there is no smelter that will ever be built for 5 to 6 million bucks or any where near that number. Location is also a major concern because of the amount of pollution. The pollution control equipment in a smelter runs in the 10s of millions of dollars alone. Sure there are many mines that have smelters, they have the production to warrant the smelter and save them fees and transportation costs,not to many astute business men would build a smelter for a tiny lttle 100 tpd mill or even 1000 tpd. JMO
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I think you may be mistaken about the ownership of the sinker tunnel. The last I heard the sinker tunnel was owned by GHDC and SFMI would have to pay a user fee of 15% for any metals that were removed from said tunnel or any metals that were transported through the tunnel from any of the other shafts connected to the tunnel. Any metals that were moved and touched any portion of the tunnel would be subject to the 15% user fee payable to GHDC Also SFMI does not own the property that the mill sits on, that property is subject to payments to the landowner in gold bullion at a highly deflated price, I think it was something like 640 bucks an oz, over an extended period until the loan is satisfied. Lets hope they can make those payments, or the landowner will own a mill. JMO
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I suppose you people have priced out smelters lately, if you would be so bold as to predict that 200 million 2 and 3 cents shares could build or buy one.Lets see now what can we do with 5 or 6 million dollars when we go shopping for smelters?? Uh oh!! not even enough to set up the first meetings in the negotiation process, as far as building its not enough to get surveys and approval of permits. Not many places you can just go and build a smelter nowadays. The low end of building a smelter is in the 3/4 to 1 billion dollar figure. I really don't think they can handle any thing in that range just yet. Me thinks the shares are strictly for dilution, time will tell. JMO
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Hey Fedd, I am not really new here, perhaps just new to the board. I guess I have held this thing for quite some time, just didn't show up as an interest until the R/S, then I had to find out if I had any shares left here, guess I still have enough to play with for awhile. I think if you find a Co. with SILVER as part of its business, you will find me there like a pig in a new mudhole. It does look like ITRO has some things going for it that could very well propel the S/P into the $5.00 range, just have to wait until we see some real numbers and then get a little volume. JMO
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They do NOT have the capability to increase that amount to 2 to 3 times the 140tpd without the installation of additional equipment to the mill. They also have never stated that they are processing 140tpd, they have just said they are capable of processing that amount. Now that would most likely only be attained after the mill is dialed in and they are operating 24 hrs per day.It is all in the PR if you choose to read it as it is written and not by using assumptions.
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RSI touching on the 70 spinning top, no doubt about it, big run up coming just need some real volume and it is gonnzo. JMO
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No,not, never as a matter of fact I tried to sell all my freebies in the parent today but missed it by 1 point, perhaps tommorrow. I have lots of change but SFMI is just to scary for me, the only thing I am buying long at this time is silver bullion. I will leave the high risk gambling in the hands of the folks who are not looking at the pictures from Bobby Joe. JMO
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Being increased daily,must be up to 5 or 600 tpd by now then at what was it 3.5 or 5.5 oz per ton, Huh my god, and the share price remains at .15/s!!!!Also the company has not told anyone where they are at or what they have been doing as far as actual tpd rates or real metal content for over 30 days. Does something not add up here?? After all the CEO stated in the last PR that the Company would keep the shareholders up to date. Big surprizes coming on the 16th if they do release the 10 Q at that time. I suspect there will be a delay.When it is dark for to long, there is always bad news when the lights come back on.JMO
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Yes there is a pile of crushed ore, but that is not processed ore, they have not recovered any metals from that pile, it has to go through the mill to recover the metals and then there will be new tailings from this mill. Where are those new tailings?? 160tpd for 45 day=7200tons of tailings. Thats a pretty good sized little pile, wonder where it might be??
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Question number 6, you will direct your attention to the words "I believe". Now if the mill was in fact processing 160tpd, the IR person would not have inserted those 2 little words. Also where is all those tailings from 160tpd of processed ore??? Bobby Joe does take good pics!!!!JMO
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That PR was released on July 01 . At that time they claimed the mill was capable of processing 140 tpd, however they have never shown that it has processed that amount in any day to date. You may also note that the CEO stated at that time that as soon as more results become available they would share them with the shareholders. I guess there has been no results to share yet. Most often a mill does not just start up and begin processing at top rates on day one, in most cases it can take a year or more to find the correct process to get the best possible recovery from the ore. It does look like they have been trying different methods here, possibly because there is very little metal content in those old tailings. I think the oldtimers most likely got most of it.You just don't work all day with a pick and shovel and then leave the gold sitting in a waste pile.JMO
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Your first and biggest error is saying that you have comfirmed info regarding the processing of 150 tons of ore per day. I am afraid that is not confirmed and I am also afraid it is very much less than that, as they are still in the process of trying to figure out how to extract any metals from the ore.JMO
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If, as you say they bought 2 million shares at .01, perhaps you could tell me why they would not have sold the 10000 on the way to .45 say at maybe .36 ,35000 profit and sold more on the way down or around .25 to .30 it hung around there for ages. I am sure anyone with that amount of shares was a seller at those levels and is a buyer with those profits at todays prices. Think about it for awhile, it will come to you. It is always good to know where it has been and I don't think any .01 buyers are selling at .15 unless they know something or unless they are liquidating. It has been sitting at this level for to long and folks with a lot of shares are waiting for a signal before they will sell, cause they already have thier profits at much higher levels. Now I am sure any of those big holders also sold some at .15 before on the way up when it went to .45 but they sold much more at the higher levels, so right now they sure are not going to sell any at .15 until they get a signal that it is going to dive, they will wait for higher levels and bigger gains, many of then are probably buyers at this level, using profits from previous run.JMO
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EDIT
Also the first amount they sold would have been more like 20000 to get the initial investment back
My god, that sure makes a lot of sense.....not. If the price was in the 30 to 40 cent range you are going to get a lot better swings than you will if you "hold" it at .15 Cmon Investing 101 basic simple math. Perhaps I am not smarter than that!!!! Ha LOL
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I am going to say otherwise, I can tell you if I bought millions of shares at .01 or .02 to .07 there is no way in h*ll I would want to hold the price down at.15 and keep it from rising to .30 or .45 and I don't think there is any other investor or Co, that would be able to show just cause for "holding" the share price down. Further more if the fundamentals are there it would be impossible for any one to hold the price down. The answer is is in the market, the market does not see a higher price here and will not bid it up, in fact it is being artificially maintained at its present level and is in a definate downtrend. JMO
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Yes we all know they are legit, never questioned the fact. However I think you are going to be in for a huge disappointment when the real numbers surface, if they ever do. If they had some satisfactory numbers, you would have heard about it by now. There is no JPM Co. that has ever had good numbers that did not stand up on the roof of the building and shout out to the world about it, in fact even some that don't have the numbers tell the world they do. Don't try to believe that they are trying to hold the share price low for a buyback, that is an old wives tale, they are years away from any buyback and no Co. ever tries to deliberatly hold thier share price down. If they are in fact processing 160 tons/day and have expected recovery rates we would know about it and the share price would be in the dollars already.Now you can see by the photos that they are moving more into floatation method rather than inverted cyclone by the amount of water and the attempts to clean water in circulated sumps. EPA violation... no liners in sumps or sufficient dyking, also you can see they have several chemical vats that have been in obvious use, another indication of floatation. It looks like the PMs are a little harder to seperate than expected and they are in the process of expermenting with different methods of recovery. Some one mentioned that this is perhaps just a pilot mill quite some time ago,I think that person is correct and they are just using this tiny little mill to see if it is possible to recover any PMs from those old tailings. I guess we will find out when they do.JMO
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SFMI
-5.9% on close...
downtrend....
told ya....
eyes wide shut....
look at still pics....
great info.....
watch for signal.......
panic soon.....
don't say ya didn't know
diversify......
parent ____....?
JMO
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Jeeezzz I didn't even know I was in here, just snooping around this morning and saw this R/S announcement, so had to take a look at what was going on. Surprise, I already own the damn thing at .0270, don't know when or why I bought this crap but it looks like I won't be selling, just have to sit on it and see what happens. I don't expect much, just a total loss. JMO
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Has been dead money for a few years now, only thing that will ever change this is to get a new, all new BOD and a signifigant cash injection. I still think the gold is there, gotta get someone to dig it up and sell it. With a lot of the infastructure being in place, it wouldn't take much to get this thing moving. JMO
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SFMI
Told ya...
-10.7%
Bad start...
New month, New week...
Total tonnes....?
JMO +
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Don't know what industry many of you work in but when it comes to mining and oil,they are mostly 24/7 365 so lets not place to much praise on SFMI for finally working on a Sunday. Yes these are great pictures, and they tell us a huge story about jsut how much ore has actually been processed to date. If you know what to look for you can plainly see that the total ore processed so far is way below any of the forcasts presented on this board and I mean miles below. Also lets hope that EPA or MSHA don't get to see these pictures cause I don't think they will be to happy with what is shown in some of the photos. Great photography though, really shows the detail and tells me I made the right choice by not investing at the highly inflated share price. My guess is that we are in for a severe plunge when the numbers come out or MSHA et al visits the site. JMO
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DT,
I agree the 10/oz is a very popular size and also easy to store if you have problems with space. However because of its popularity it is also at a premium over most other sizes of silver bullion. I have found that as of the last 8 to 9 months I can buy 1/oz or 5/oz at better premiums than 10/oz. If you are looking for sizes for barter, the smaller will be more in demand. I remember purchacing some 1oz bars and rounds that were split so that you could break them into 1/4oz size, don't recall the name on the items and they are buried somewhere in my safe. I will give you the name if I come across them. I also have some very tiny little 1 gram size bars that I picked up on the internet just for that specific purpose. But if you think about silver ever reaching 1000 bucks oz, 1/4oz barter bars will be handy to own, 10oz are going to be hard to move. So I guess as long as I can buy the 1oz for the same or less than 10oz that would be my choice. Maybe more next week, I hope. GLTY
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Yes I have some Sunshine stuff that I got from Ap I do believe they are just temporarily out of stock, but I dont think we will get it at +.69 again when they are restocked. If it comes back at that premium, great I will be happy to buy some, as I am sure most of this board will.We can always hope they like us enough to throw us a bone once in a while. LOL
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I don't think I would use the word "wisdom" more like luck. It is just that my first venture into the markets back in the late 70s was in silver, and I have always played around with it. Back in those days we bought and sold everything with certificates, there were no big money crooks with short positions, then along came the Hunt boys and that was delightfull for me but devastating for many who went in for the ride. I did not start buying physical until around 2000 and since then that has been the norm. The very first time I ever heard about the use of silver in medical applications, thats when I started accumulating, I don't know if I will live long enough to see the benifits of silver explosion, but my family will. I am still of the opinion that any buys at todays prices are the greatest savings account you have or will ever have. Everytime I sell some stocks, it will go directly into silver bullion until I get up to at least 35% of my portfolio in bullion. It is the right thing to do. JMO
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I am still hoping for another dip before it really starts its move up. I have a goal I would like to reach and will continue to buy anytime I can get a good price. That total order was at +.84 so I thought in this market that was a pretty decent buy. I used to try to keep it around +.69 but it just don't seem possible to get that price anymore. I can't say that I blame the the suppliers for wanting to make a little more when the demand is there. I know if it drops to 15 to 16 bucks an ounce they will be up around +1.50 or more cause the demand will be huge at that time, and I think everyone knows that will be the last dip we ever see in silver. JMO
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Just recieved my order of 1360 oz Delivered by UPS in 4 heavy tightly sealed boxes. Nothing over 5oz bars mostly 1oz rounds and bars some 1/2 oz. All wrapped and packed in bubble wrap, boxes taped with strong fiber tape.Everything packed so tight, no possible way for damage to occur. This is the way I always recieve my orders, even from Apmex. I have never heard of silver being shipped loose, so it could rattle around and get damaged. I think some shipper must have been smoking something when he packed your 10 oz bars. I would think Apmex should replace them for you, no questions asked. Hope you ask for replacement as I know you have quite a few of those stackers and I am sure you would like them all to be in new condition.
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I used to buy a lot of 10oz bars, and have purchased from several different suppliers and I never ever recieved any of them with even a slight mark on them, they have alwaays been shipped just as carefully as if they were shipping ming vases. I haven't ordered any 10 0z for about 6 months now as I always get the smaller stuff at just as good of price unless it is premium stuff like Eagles or Maples and the I have to pay a premium on those. But I say if you pay for it make sure you get what you paid for, thats why I don't like E-Bay, I got taken there a couple of times and find there is nothing you can do about it.. just a big hassle.
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Just my personal opinion on this is that when you purchase silver bars and rounds in the smaller sizes you do expect to get new pieces that are shiny and nice to view, not something that is scratched and dented. Its like buying a new stove, you do not want scratchs and dents. It is not normally the intention of folks who are buying the smaller pieces to melt them down and reuse for building aircraft or...I know I would ask to return for replacement. All of my 10 oz are in seperate plastic holders and were always shipped packed and I mean really packed in bubble wrap, usually wrapped and packed in bubble wrap , just like the coin roils are always wrapped and then packed even though they are already in protective tubes. I can see a few marks on the 100 oz bars as they are not normally purchased by investors, but are more for reuse. JMO
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Looks like some one paid $400 for a can of green paint. Fools. JMO
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Got a chance to take a look at some of the stuff on the new website as well as the presentation. I am very impressed, now if some other folks could see something like that maybe they could understand my opinions. Yes I know a lot of this stuff comes from the old AGT site but there is some easy to follow answers if folks have any questions. I will have to get some more time to look at it in depth, almost makes me want to add some. However I have a core position and will only trade around that for the time being if the opportunity presents itself. GLTA
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Oic. Thanks for the elaboration, I guess I must have been out of the loop. Well I will not want to be here if we hear that it just don't happen that way. I just won't want to have to listen to all the excuses again. There is much that we should know by now and it just looks pretty dark to me. JMO BRD
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Perhaps you can elaborate on that statement. What by-product of what?
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