tattoo1: FFGO was a heartbeat away from bankruptcy and foreclosure of the mines, NMGL has to sell "future" A&B's to buy a portion of the mines from FFGO (because they don't have $258 million in cash to buy part of the mines or pay a cash dividend based on the $258 million) and RENS is a "derivative" of NMGL and at the time has little money or resources to "forward the plan." We have to wait around for a large company or group of investors to come up with 1 billion or more??? in hard cash or assets to buy the mines. These three companies added together couldn't probably put a tenth of that together if they liquidated everything.

Hopefully, someone is qualified in putting together a buyer and seller. It took FFGO almost an entire year to sell the gold mines AFTER they had already secured a buyer (NMGL). We don't even know if NMGL has a buyer. My confidence is kind of low in light of all the time, indifference and lack of filing and action that I see.

Colorado5, I can't imagine 6 years of waiting. Are you blaming the naked short sellers for holding back the sale of the gold mines?

AlanC: I view the SEC as a "general" or broad based government entity. For the SEC to delay a filing or delay an action would be very "narrow." So narrow, as to effect, a very specific outcome on specific people or companies. Any delays, to me, could be thought of as tactics to "shore up" against naked short sellers. Allowing extra time to pass certain laws would be a very narrow and direct effort to attact a specific group of individuals or companies. This could be seen as delaying to ensure that certain people (naked shorters??) are forced to cover and bankrupted.

While I would love to see the naked shorters get their "due," it would set legal and political ramifications if the SEC was deliberately trying to effect specific outcomes versus passing broad laws on certain groups of actions (not specific individuals).

Though, it wouldn't be the first time the SEC has tryed to help one company at the expense of another. If you are interested, AlanC, I could put together some stuff on how the SEC directly intervened BOTH times silver has stared at $50/ounce both now and around 30 years ago. This "NSS delaying" would be harder than "silver" to explain away in this case, believe me.

I don't buy the the "too big to fail" and "collapse the economy" arguments for the delay of the 3 companies that you speak of. The naked shorters are far smaller than the banking and housing industry and the hundreds of trillions in bad debt that brought down our economy. The naked shorters could boost the economy as their transfer of wealth could stimulate more spending for the economy as offshore and large holders are distributed to a much larger group of people who would then spend and boost the economy. So, I don't understand why the delay for this reason.

It would be much easier for me to believe that an underfiling, undercapitalized company like NMGL is just not a "highly qualified company" that has no interest in retail investors and doesn't have the skill and resourses to get the job done in any reasonable time frame. Their lack of skill is their "delay" to me.

NeilPeart: Interesting how the smallest phrase can key us in on so much more.

The game is far from over, but when I look at the FAQ's like I did in my last post, NMGL's credibility, to me, can start to be questioned in light of the events that have not transpired. A top notch company would file, sell, communicate and make money. A top-notch company would have already concluded this deal. NMGL may prove to be a competent company, but, as I shown in my last post with the FAQ's, they are not, to me, a "highly qualified" company as portrayed by FFGO.

A competent company could get this done, to me, in a year. September will be here sooner than you think. I can't believe January has blurred into May. May will blur into September and a year with NMGL will have passed. A competent company will get the dividends delivered before then.

We will see....................

Hopefully even those who see themselves as an “unsophisticated investor” who do not fully understand this transaction can now see that the way has been prepared to achieve the fruition of their investment. How could Fortress issue a cash dividend for an asset that it has not yet been disposed of? How could it dispose of an asset that it only partially owns? If even a partial cash dividend had been made that would have multiplied the complexity of making a final cash disbursement to shareholders and put the entire sale process at risk. NMGL effectively came in as a “White Knight” to rescue this deal. NMGL receives a mere 5% fee upon their concluding a cash sale of the assets coupled with any excess in the event of the assets being sold at an amount exceeding the face value of the NMGL Preferred Series “A” and Series “B” shares. Had NMGL not rescued Fortress, the Loan Note Holders would have bankrupted Fortress and Searchlight Exploration, LLC would have exercised its legal rights and seized the Company’s Gold interests without delay.

There is the "official" version of events (FAQ's) of why we cannot get a "partial" or dividend based on FFGO's share of the gold mine. I believe that it is the undercapitalization of NMGL that prevents this from happening, not "multiplication of complexity." This is one of a few times that FFGO has been less than truthful in my mind. I would have accepted lack of funds better than the "official" explanation.

NMGL, at this time, considers these transactions as a mere “warehousing” exercise, their intention is to obtain 100% ownership of both Bouse Gold, Inc. and South Copperstone, Inc. over a period of time, to then use their best efforts to dispose of both Bouse Gold, Inc. and South Copperstone, Inc. and if successful, NMGL would then redeem the Preferred Series “A” and the Preferred Series “B” shares for cash and at their face value.

On or after January 1, 2011, NMGL may at its sole and absolute discretion redeem all or part of either of the Preferred Series “A” shares or the Preferred Series “B” shares for cash.

Another "lack of truthfulness" that I have spent many long posts of why we should have got 1/1/11 A&B's to redeem. So, I will not repeat it here.

The purchaser is designed to become a highly qualified institutional quality organization. Though there is little information available in the public record at this time, this will become much clearer as time goes by.

TO BECOME is the key words here. While some progress has been made with RENS, etc. I think the lack of filing and action really hinder that process. To become a "highly qualified institutional quality organization" you need to SELL something and make MONEY. Bouse and S. Copperstone Gold Mines have been on the auction block for far too long to be a "highly qualified" company to me. With gold exploding, a "highly qualified" institution would have already completed this transaction. "The public record" is no more "clearer" to me than when we started this "incredible journey" with NMGL back in September.

NMGL policy not to comment whatsoever outside of its Regulatory Filings. NMGL is being created to be an “Institutionally Held” Mining Investment & Finance Fund and it will conduct its business in the normal course of events as do all other substantial quoted corporations.

"Substantial quoted corporations" not in my opinion. I don't see NMGL in that category, to me, selling a gold mine in this economy should not take a "substantial quoted corporation" this long to find a buyer and get a deal and pay an extraordinary dividend.

That may have been the "real" reason behind the "whole" pie scenario where we will receive cash dividends after the ENTIRE gold mines are sold. It may not have really been about different prices or segregations. It would have been easy to "seperate" FFGO's share of the gold mines and pay dividends based on that.

Instead the "whole" pie scenario where the entire gold mines must be sold entirely before a dividend is paid. It looks like it is because NMGL might not have $258 million in cash to actually buy FFGO's share of the mines. So, a "future" promise of $258 million in the form of A&B's from a BIG FISH company who has the cash and resources to buy the entire mine.

The real reasons were probably obscured in this case of the "whole pie" scenario.

What is harder to live with: Losing a thousand or two if FFGO never pans out or Losing tens of thousands because FFGO did pan out and you sold your shares prematurely??? I don't want to miss out on losing this once in a lifetime opportunity. I have enough regrets in my life. If it takes more than a year so be it, though, I might complain once in a while along the way.

A mystery indeed....

Rush singer (NeilPeart): Gold used to sell for $300-400 an ounce. There may have been better opportunities elsewhere or maybe the previous owners were undercapitalized as in FFGO's case. $258 million for a "quarter slice" at $900 gold answers questions for me. Gold is $1500+ and will continue to go up as the dollar will eventually collapse. No country's currency has ever survived 100% debt to GDP. I could go on...

The dollar's demise makes it easier and easier to sell gold mines. Temporary blips like Greece's threat to withdraw from the EU are minor distractions (repreives) in our dollar's fall. We live in a different world where gold will grow and the dollar will fall. We didn't know better back then. How many people knew in 2008 that we were in the verge of a huge recession and unrivaled bull run in gold and silver and other commodities.

I doubt the past owners of FFGO did.

ctrumabll: Before 2/28/11 there was probably not much of a care in the world for the MM's here at FFGO. They had been naked shorting for years for, probably, many companies. You had said $100,000 is not worth the consequences. Those consequences are 2/28/11 and beyond consequences not before 2/28. $100,000 from several companies starts to add up. The MM's knew they were doing something wrong, but until recently haven't had to worry about getting caught.

You are thinking rationally about the present and the risk/reward picture now. The risk/reward picture months and years in the past was different for the MM's. It made sense for the criminal element back then. Even now, some brave MM's are still doing NSS transactions despite the quite rational risk/reward picture you mention.

In a narrow focus, your math certainly makes sense and the risk/reward consequences seem too high. These MM's are "half-way around the sun" already. It is too late for them now. What's an extra $100,000 if you are going to go bankrupt and go to jail. Might as well steal another $100,000?

I don't know for sure. The Level II's I have now are mostly non-professional. I have an associate that has the professional software needed, but, I don't want to bother her at work.

I am not worried, the MM's will start to come off the ASK on a regular basis very soon. The dollar has fallen 10% since november and will continue its descent. Gold and FFGO/NMGL/RENS will continue to be a positive story. Silver looks like a possible correction or trading range after a $6 fall last night.

Up to $258 million to be paid to shareholders through dividends. That is a large amount of positive reputation that would be created by a "dormant" company. Well said, Seven!!!, Rocket!!!

indebt2: The buck a share comes into play if FFGO has an enormous naked short position and market makers are forced to cover at "a buck a share." You will have to read months of posts and decide for yourself.

I will tell you that FFGO sold their interest of the gold mines for 258 million. So, it does have value. I suspect they might have more. That is only my speculation.

I was born in Phoenix, Arizona. I think my birthplace will be the place where FFGO staged, perhaps, the first short squeeze and biggest dividend ever!!!!

Something is smoldering. Time to start running shorty!

That may the most important point to remember regarding FFGO. They had NMGL "save" them to avoid bankruptcy and losing all assets for themselves and their shareholders. There is some wisdom in their actions. They want to keep some kind of reputation by paying an incredible dividend.

What are the reasons? Without a financial interest in FFGO, why do people post everyday so often?

To get a paycheck for helping people sell their stock?

To justify their sale of stock by persuading us to do the same?

FFGO is like the rising phoenix that may rise from the ashes fueled by gold and rain down on the naked shorters.

NeilPeart: that "old text" shows progress on A) and B) (aquisition of Bouse and S. Copperstone) with $258,000 being paid with NMGL A & B shares. That is progress. Once A) and B) are done, it would only take a couple weeks to audit and get the rest of the list complete.

Yes, I do agree, that RENS is like the price of gold it has some bearing, but, it doesn't directly tie to "the list."

I was disappointed with what I would call "phase I" where the dividend was supposed to be (in my mind) delivered by 1/1/2011-3/31/11.

I am encouraged with what I would call "phase II" from 5/1/2011-8/1/11. We have 10k, 10Q, 8K and other filings that should be coming due that are critical. We have obligations with Sloane, Searchlight and other entities that have due dates in this phase.

I am going to try to stay positive. I was hugely disappointed by failure of "phase 1." I actually give good odds that this will play out during "phase II" If "phase II" does not play out there will be little left to "leverage" or "pressure" a dividend. On the other hand, if progress is made that promotes a completion of the dividend then I would have some positive energy beyond phase II. May 15 will be a first test of this phase II.

Rocket Man. According to Puppy and NeilPeart, trades are broken into convoluted pieces (say 10 for talking purposes) and they somehow "clear" everyday not as short volume (as reported), but PERFECTLY BALANCED trades.

Wow that is amazing!! LOL. I will take what actual numbers show, like the ones you keep providing. Hey, puppy, let's see some numbers on how they "clear." They don't as Rocket Man keeps posting.

I don't see it. Let's look at it closer.

NeilPeart - Friday, April 22, 2011 1:45:47 AM Post # 174387 of 174401
FINRA FFGO Short Volume reported daily on FFGO is MISLEADING

I've spent a good amount of time trying to investigate why some people are claiming FFGO has tons of shorts, yet not one short is covering. Even after the new FINRA laws (and the famous 2/28/2011 date) that were advertised so strongly on this board.

I now believe the following is happening here at FFGO which wrongfully gives the impression that shorts exist here:

Quote:
--------------------------------------------------------------------------------
"The way a trade is executed, Investor A is long 100,000 shares of XYZ and wants to sell at a limit. They place the order thru their broker to sell who then routs that order to a market maker who has no inventory in the stock. Over the course of the day, the market maker sells all or part of that order under multiple trades (lets say 10 trades of 10,000 ea. for talking purposes). Because the market maker does not want the liability of the shares he can't unload the market maker is allowed to sell first into a buyer into the 'media market' and then come back right afterwards and buy the same mount from you. The first leg of the trade, the MM selling to the buyer is the sale that is reported and because the market maker did not have custody of the shares he MUST mark it a short sale and will not report the mirror trade of him buying the shares from the originating seller. Even though the net result was a long seller selling out a position they held it is reported in this system as short volume."

Because the market maker does not want the liability of the shares he can't unload the market maker is allowed to sell first into a buyer into the 'media market' and then come back right afterwards and buy the same mount from you.

What liability? I don't see MM's here trying to "sell" FFGO stock's for individual investors here. Sell orders have sat for days, weeks... without getting filled.

What is a media market?

Why does the MM have to return from the media market and buy the same amount from the original seller?

"MUST" mark it as a short sale and "NOT" report the mirror trade of him buying the shares from the originating seller? Why? Wouldn't it eventually be "balanced" out? I don't know about this "MUST" mark as a short sale.

We have billions in short volume and only tens of millions in long volume. That might hold up, best case, for the Day of the sale, but it would eventually have to be seen in monthly charts or volume reports.

NeilPeart, I just don't think it works as the narrow example you have twice posted. I don't claim to know exactly how it works. I can say that there are huge discrepancies in long and short volume.

We both don't know really. Evidence tends to support the daily numbers Rocket has posted. We would have to carry your scenario out on a daily basis and keep up a 90%+ short volume or 9-10 trades to fill 1 trade.

Why can't short volume really be short volume?

I have given long numerous posts on the financial advantage to selling shares that don't exist. I don't believe this daily short volume is a mere "ACCOUNTING" error. There is more to it than that? It is short volume because MM's can make money selling shares that don't exist.

I THINK that was a great post!

I especially love the title of the video. An "it" should be added though. LOL. Don't we have a poster of the same name? LOL

So many stocks are naked short sold that you would have to be from Mars not to see it. How many companies have to be penny stocks and bankrupted before it is seen. It may be incorrectly blamed in some cases, but, this problem is so much bigger than people think. The entire economy was brought down on instruments that secured debts on houses and banks. Those instruments are called mortgage backed securities and derivatives. This 600 trillion dollar market went under the radar and we continued running houses up in value at 20-30% year and thought the party would never end. It did...

The party for the short sellers will end here at FFGO. No one believed me when I pulled out of all stocks over a year before the DOT.COM bubble burst and crushed the market. Few believe there are short sellers who are costing jobs, companies and driving share prices down.

The internet was so "cool" that price based by earnings (there were no earnings) could be thrown out the door. It is "cool" to fail to deliver and trade to the 5th decimal point.

This party for short sellers will end and mine will begin. FFGO could be one of the pioneers of the domino effect to come.

AlanC: thanks for your posts and links. Great as always!

Probably? Puppy? Probably a transfer. If you can so decisively say there is no naked short selling, then why has Rocket got you in a corner with this "probably a transfer from lumbs group to a short seller."

Time to grow a conscience and admit that naked short selling does exist and has sent many multi-billion companies into penny stocks and that naked short selling does exist in FFGO.

Puppy, I cannot compare derivative issues of the past? If $600 trillion in derivatives got by you and me, then why couldn't some naked short sales get by you? Did you see the market makers naked shorting Bear Stearns or Lehman Brothers? Public record, again...

Somehow, you can see every trade in FFGO though. That's really amazing pup. You can definitively tell us all that ALL trades have cleared and that is there is NO short positions. That's amazing.

Do you know the MM's here at FFGO? I don't know them either, but, MM's and others who Naked shorted and used derivatives to run 600 trillion in derivates (including bad debt), and many companies into penny stocks (with Fail to Delivers). If there was so much transparency, we would not be having this discussion.

The comparison is that $600 trillion got right by you. Naked short selling could get right by you.

We don't have a perfect picture on the long and short interest in this company. You, on the other hand, believe, that there are no fail to delivers. We cannot know the "way" the MMs trade FFGO.

Rocket, another incomprehensible number also involves a 6. Around $60,000 is the number that each ounce of gold would be worth if we went back to the gold standard.

Puppy, Bear Stearns was a huge company with a giant stock price that was brought down in a matter of days by Fails to Deliver. Fails to Deliver have been done and the ability to FTD still exists. FFGO is not on the radar. A dividend could change that. Fails to Deliver is PUBLIC RECORD as occurring and have occurred. Fails exist in FFGO. I will take that one to the bank, thank you.

Puppy Please! NO fails? Did the SEC step in on any of the 600 trillion in derivatives? There were trillions and trillions in banking and financial debt. Did the SEC step in and save the day? Did they question derivatives? No, the bubble grew till it popped to the tune of over 600 trillion. The bubble grows today.

Just because the SEC hasn't stepped in, doesn't mean that NSS and Fails to Deliver isn't happening. You are betting on the same SEC that allowed derivatives to grow to 600 trillion. NSS will have to explode in someone face before it is seen. The SEC will act when it pretty much public knowledge that something happened. We may not be up to 600 trillion in NSS yet. It does exist, big time, in FFGO too.

FFGO will be proved to have a huge naked short selling position just like derivatives.... AFTER the fact. The criminals are very good at hiding their tracks.

Reading the entire link provided, It discusses 50% short volume as one "tell." Our short volume as Rocket has provided is always higher than 50%. Another "tell" would be the "bi-monthly short interest report." I am sure that the short interest would far outpace the long interest. A person really would need total short interest going back to the "5 billion day." There were some other billion dollar days also. I might track this down, but, I already know there is a huge short interest position. I really don't need further proof than watching the price activity and volume over the last year and a half. That is better proof to me. Maybe, others see it another way. That is their observation.

Basic human nature dictates that if you have market makers who are "kind of slimy" to begin with, they, have the ability to trade to the 5th decimal point. Why would they not exploit that pre and post 2/28/11??? Are they upright business men?? They might, I believe, naked short sell on the 5th decimal point making an instant 10X profit. Or create shares that they FTD (fail to deliver). That, again, is my observation.

NeilPeart, you can choose to believe the "good" in our market makers and some possible "theoritical" explanation on daily short volume. I will go with human nature and daily price activity (which would have not been cellar boxed--if not shorted,etc.etc.) and the high, usually, 100% short volume on almost a daily basis.

Vianna,

I wish I had PM, but I want to pour all my money into surviving and investing. I started "late" too, lost my house and have had "struggles" since our "derivative" induced deflation.

I would love to see the NSS market makers receive their due and for many people to prosper with FFGO. The good news (for investment purposes) is that there will be a deflationary cycle or two before the dollar goes completely hyperinflationary as our politicians will monetize the tens of trillions of national debt and unfunded liabilities.

We can still make some great money if we choose the right investments. Look at silver, rare earths, gold, etc.. If many of us believed in silver, for example, like FFGO and held it for years, like FFGO. We would have seen many times our investment. I expect a recession, a huge pullback, and another great buying opportunity like april 2009 where many times our investment can still be made.

Vianna is one of the few posters on this board who has made concessions and admitted when reality didn't play out as they thought or they were wrong about something. alien42, even in the post you replied to, Vianna admitted she bought too many shares than she is comfortable in losing. How many people have admitted a formerly held wrong position without a back-handed putdown, etc.. Very few around here.

There has been some "delusion" though. Not many have said, it was 100% wrong for FFGO to "trick" us by not giving us a dividend and "putting it on NMGL." That's not what the press releases were saying. After the fact, after the sale, they say that NMGL will now be in charge of dividends.

The A&B's were 100% a "trick" to me. I have to "possess" A&B's to "redeem" them on the 1/1/11. That was a "Trick" to me. You can point to other FAQ's I know. Don't Bother. The "1/1/11 A&B passage" was meant to confuse and mislead.

If we could get more of our board poster to admit 100% these "tricks" and deceptions, we might have more credibility on this board. On 5/15 when NMGL doesn't deliver the 10Q either Vianna will admit she was surprised they didn't file or I will admit I am surprised they did file.

Some here are forthright. V is one of those people. Most others are anything but forthright.

Any price of gold over $900 does not diminish the dividend of nearly .0035 per share. The "health" of NMGL may be of little or no value as far as it relates to the price of gold. NMGL's gold strategy, if any, is totally unknown to us. As any strategy of aquisitions or sales or whether they have any intention of paying out A&B's.

As NeilPeart has greatly posted, the Price of Gold has [nothing] to do with FFGO. FFGO sold their mines already. NMGL is an unfiling unpressreleasing unknown. I have to go back to work, but I have some additional comments later.

Thx V for the info with the 3% "deal" last friday. That was an informative post. I see the important dates looming (5/15,6/30,9/8).

Wasn't 7/28 an important date also where payment of 1.5 million will have to be paid if the "deal is not done" by that date??

I should have put together an FFGO "notebook," but I never believed we would be waiting this long.

Vianna, care to weigh in. 3% interest or 3% liquidation preference. I know you would have some nice links to answer this.

Seven, when I receive dividends or interest in my brokerage or bank accounts, they show up as a line item entry in the account. FFGO may or may not be accumulating this 3% interest. Like almost everything concerning this stock; There is no way of knowing. I know you are "not concerned," but you are part of a shrinking minority.

AlanC: I have never received a Green Baron email before this week. I think that Green Baron or NMGL or FFGO figured present FFGO shareholders are good candidates (suckers) for Lumb stocks.

I agree wholeheartedly.

AlanC: FFGO must have given my email to either NMGL (who gave it to Green Baron) or Green Baron directly. I never gave my email to NMGL or Green Baron. Only FFGO has my email. Take what you will from that.