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Some pick up the phone and ask. Scammel, another geo,PQ and the auditor are working on this filing. It's much more extensive than most think and is time consuming, with no room for errors. They were trying to have it done before month end, but who knows. Makes no difference to me, all I know is that we are getting closer.
cheers
The other miner just had a 70% gain. Please tell me what the percentage gain is here? tia
The chart speaks for itself. Lower highs and then a big red candle on above normal sell volume. Sellers obviously arn't reading the endless promo that's spewed here or they are reading and see this as just another pump fest.
Text book correction .04-.073 then 50% pullback to .057
No surprise that found big support there.
Green light to proceed now.
You're exactly right. A big 35k in shares flipped by the EOD penny traders for beer money. It was tough to get shares today likely 95% buys, which tells me those that positioned themselves over this last month see higher prices. Those waiting for confirmation news should try reading the chart, it's been saying good things coming for awhile now, just look at the buy volume.
A few days of consolidation here would be good, but don't count on it.
Who said it was great. Just helping that guy lookin' for the link!
cheers
NJ you say...
" And with all that, the SP still headed way down. So, yes, the increase is do to rumor based info as of now, till a PR can come out to confirm anything right now."
Gold just happened to drop about $400 during the next 4 months and every analasst were spouting about the gold market was finished. 95% of all gold/silver companies hit their lows for the years including big producers[ Kinross]
Most have turned back up 10-20%, SFMI is just following the trend.
Biggest tax loss selling for years across the board and likely started in Nov. I've bought most of mine back and I'm hearing others will be returning also once the 30 days is up.
This thing is quietly being accumulated and looks very tight. I added more this week. All that volume in Dec. was tax loss selling as most are in a lot higher. [nice to see our gold company on the move].
You can add to your list that of the 20 mil in shares sold in Dec. for tax loss reasons many plan on coming back in when the 30 days is up. I know of I who started buying yesterday.
Also toss in the biggest item that will move this story into fast forward is the drill program. Many of us are here for that sole reason and that's the belief that drilling will prove those historical high grade finds and then some. Getting real close now.
Also when PQ's wife is replaced it will be with a very experienced mining engineer.
cheers
Actually it's all about demand. $US prime example lately, with huge move today.
Alf Fields gets it. A must read and available at www.jsmineset.com and www.321gold.com here's the sweet part... there will be 2 corrections between $1523 and $4500 of 12-14%
Alf Field's Gold Symposium speech suggested that the correction would be between 21% and 26% in spot gold prices. The actual decline was from $1920 to $1523, a loss of -$397, or -20.7%. This is just below the target range but qualifies as one degree larger than the 14% corrections in the previous up move from $680 to $1913.
The C wave of the correction in the chart above reveals some symmetrical subdivisions which confirm that the C wave was completed at $1523 on 29 December 2011 . With all the minor waves in place and with the correction being of the correct size, that should be the end of both the correction and Intermediate Wave II.
The probability of this analysis being correct is high, perhaps 75%? Smaller probabilities allow for: (i) this to be an A wave of a larger magnitude correction; (ii) the current correction becoming more complex, perhaps reaching the lower price targets (e.g. -26%); and (iii) the possibility of deflation, defaults and depression emerging, also testing lower price targets.
The up move just starting should thus be Intermediate Wave III of Major Wave THREE, the longest and strongest portion of the bull market. The gain in Intermediate Wave I from $680 to $1913 was 181%. The gain in Intermediate Wave III should be larger, at least a 200% gain. A gain of this magnitude starting from $1523 targets a price over $4,500. The largest corrections on the way to this target, of which there should be two, should be in the 12% to 14% range.
Nice little uptick these last few days as the selling drys up. As far as rumours, there's always one being tossed around on this board.
The fact is there is hundreds of charts right now that look the same as SFMI's. The commodity stocks and particularly junior pm stories were beat up bad. Heck even some of the big boys [Kinross, Eldorado etc.] all hit there yearly lows during the manufactured take down of the metals over the XMAS season. SFMI was not alone. The stats out say this year was the largest tax loss selling seen in 30 years. Don't kid yourself SFMI had a ton of shares sold for tax reasons. I know of a couple of million myself. Some that sold have full intention of coming back after the 30 days are up and are hoping the sp stays down. If they sold in early Dec. they should be back buying now.
Get those drills turning and this story will move on results.
I've been waiting since late 2007 and now its down to counting days rather than years.
cheers
Some sure have little understanding of this process. Saying that the intial filing is a waste of time confirms that. The filing is fairly extensive and will at this point contain only the historical info which will be clearly labelled as 'historic' and non compliant. However it will serve new and old investors alike in that it will be complete summary of ALL drilling and sampling in the past which can now be found on one document. Having this document prepared and filed will also speed up the filing process for a Canadian exchange As SFMI proceeds with both drilling surface and subsurface[Sinker]over the next few years this info will be incorporated into this already filed document to come out with resouce estimates, stating both indicated and inferred reserves. Hope this helps clarify things.
glta
Lets add Feb.1 with the hiring of a very experienced mining engineer, who is also added to the BOD and DQ steps down.
Also notice that the big volume days are ALL sells, which is indicating distribution/ not accumulation. Charting 101 says buyer beware. imho of course
My order is going in tomorow for 100k. at about .02. The chart says it all. Lower highs now for awhile and soon the waterfall sell off. Bazinga!
I don't get why folks would gamble on this play and that's all it boils down too when your monies are hoping for a highly unlikely court settlement. Not to mention the time factor for having dead money. With gold/silver hitting new highs next year some juniors will do very very well. Make sure you're on the right bus.
The 3 month trading range of .80-.95 is now broken down. Ho-Ho-Ho, it's down we go. Were's the bottom? Charts don't lie!
The chart is telling the true story, looking very fugly. Buyers beware of the hype!
I'm thinking it might be less than 1,000 oz. as they will hold back some and sell the remaining inventory into likely higher PM prices into Nov./Dec.
The actual number quoted by PQ was $4010 per day to fund mill operations. I also asked if the $50/ ton figure was accurate or more importantly what did it include/exclude. PQ asked the bean counter on additional over head and it was $30K/month. So the math is 30 times $4,000= 120,000 plus 30,000= $150,000/month.
This of course does not include capital expenditures [smelter, mill upgrade and expansion.]
Sounds good to me. My flights not in until 5:30 and thats if Air Canada doesn't decide to strike, Ugh!
The path to .50+ has to start somewhere and up 40% over last week lows is a good start, certainly nothing to whine about. An update from the company would sure be nice. From BJ's pics it looks like things are developing well.
Great pics again Bobby J. Looks like it's pretty hot down at the mill site.
Just finished listening to an interview with likely the number one technical analyst on the price of gold. There's a good possibilty that we could get another take down to sub $1700 which would set the floor for a gradual advance thru year end.
He did however say that on past history, if we move up and take out last weeks high then we have moved into a new parabolic channel at which the upper part of the zone is at $2700 and as early as next year. Volatility reigns and not for the faint of heart.
It's close to 2 years that I've been following this company and have held a very big position for most of it. They are working hard to get some oil deals done and thankfully are way ahead this time by having the financial backing. Without it your toast. I think over the next week or two we will get another update on the progress of these contracts.
If you read between the lines of this release it's more than obvious that they have some huge deals in the works. Banks DON"T give anyone funding of this size unless the deals are brought to them to scrutinize. One of the biggest problems before was getting the necessary backing, but this time the colonel seems to have pulled it off. Patience here will be rewarded.
BTW I need more share any sellers?
" Im thinking these piles pf tailings are not very profitable.. and possibly a complete waste of time/$$$$ "
So why would they be looking to purchase additional milling equip. for expansion if they didn't see a profitable operation.
Common sense says you don't expand unless you want to make more $$$$. Of course thats just my opinion.
Care to change your opinions on your small volume comment.
I suggest you pick up the phone rather than assumming things.
Perhaps you should kick up the DD a notch. This pour was only a very small portion of their stockpiled inventory. For you to claim this was all they got for a years milling is totally false and misleading.
Good post DC. I think people need to know that this was only a very tiny portion of their stockpiled concetrate and was solely used a a TEST run to see what the numbers would look like and how well the furnaces would operate.
This story has turned the corner and once that drill gets going we can count on a big upward thrust in the sp.
According to the CEO and confirmed by IR those shares from Centurian have not ben touched yet and won't be until some legal stuff is taken care of. I guess that blows that theory!
The power behind this is unbelievable, but vertical up can most times mean vertical down. Not bashing just stating how it works with most. It's a trading stock now, certainly not long time ho
lders moving in. A bit O/T but you might want to think about putting some profit into Dutch Gold [DGRI] 1/3 less shares and has a NI 43-101 resource of 2.8 mil oz gold proven and 7.6 mil. in the resource and trades at an unbelievable .01. Currently drilling their Montana property. Worth a look
glta
Agreed that these numbers are a substantial improvement. Also note that the numbers improve throughout the month. It appears that the increased monitoring levels are successful and likely to continue. As the snow is about gone on the mtn. allowing access to the existing tailing's piles they will be able to re sample those piles and bring down only those deemed profitable.
As in most start up mills there is a 1-2 year time lag to optimize production. This appears to be the case here. With equipment on order to increase recoveries and lift production numbers, we should be in an ideal set up once the high grade feed from War Eagles veins becomes available thru the close monitoring and guidance of Roger Scammel.
All along I've stated that the mill and tailings which will turn profitable, should not be the prime focus here. The game changer will be the drill bit, which in my opinion will prove up a substatial high grade resource over time.
The smelter should fire up by mid July.
It never fails to amaze me how totally clueless [though extremely opinionated] most are when it comes to truth about certain matters.
Let me clear up a few of those opinions with a few facts regarding this made for TV video.
First off RK, PQ, and any management or Centurion had ZERO, repeat ZERO to do with the idea of making this show.
There's some business guys from NY who have a number of business interests one of which is a TV production company. They are doing a series for the networks and developed the concept of New To The Street. This series will feature a number of start up US companies. As SFMI is a compelling story with the historic background of the mining in the old days and with the new present day Gold Rush they thought it would be a good fit. [not to mention the fact that they are also large shareholders.]This show was completely paid for by the production company, not SFMI.
In conversation with the producer last week, their intention is to use all the major networks both in the US and overseas. Yes, the viewing audience is estimated at close to 100 mil.
It will proceed IF and when PQ and the legal beagles give the OK.
To be 100% in compliance there's a ton of filing that needs to be done. I have no idea if or when this will move forward.
As far as the leak, I'm not going to even speculate.
BC seems to have great techy skills, maybe he could enlighten us.
cheers
I think we might just get the answers to all our questions starting this week.
Amazing how some fail to understand the basics and have the need to suggest conspiracy inuendo.
One of the major challenges facing the mining companies these days is the LACK of experienced people. Due to the 20 year commodity slump very few went to school to become geologists.
Experienced geolgists these days are a rare breed and can pretty much pick and choose where, when and what price they will work for.
So Roger Scammel with 44 years of experience and many succesful mine developments chose to go with SFMI for a reason. Was it for a heft annual salary. Correct answer would be NO, as he gets no salary. However he did chose shares instead, so what does that tell you where he thinks the share price is headed. Do not forget he spent a couple of months doing DD before he made the choice to join the SFMI team and you can be darn sure he had access [thru a NDA] to all the data available including sampling of the old workings. He knows what we will soon find out thru the upcoming releases.
As we all sit here and wonder why the heck we're not getting news, I think RS has a plan in place on the timing of the backlog of data. It's to his benefit also to maximize the sp values and you need to trust that he has a plan to do just that.
Stock price movement needs momentum. I believe they are waiting for the TV dates to be set so that the can start the releases to gain montemtum just prior to show time. Makes sense to me!
I highly doubt they are drilling, unless it's a small drill for rock bolting. Once we get MSHA approval the drilling can start as I believe the targets have been identified already. The Sinker always has some water flow, as it extends for close to a mile and it's designed to allow seepage to drain.
Not sure on the US feeds, but it will be aired on the Rogers network up here in igloo country.