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Times & Sales today:
Time Price Volume Market
16:04:27 0.0218 30000 OBB
15:57:41 0.0389 100 OBB
15:55:22 0.0222 2750 OBB
15:55:20 0.0222 22250 OBB
12:59:35 0.0389 100 OBB
12:41:38 0.0222 30000 OBB
Another observation: PMX COMMUNITIES,INC filed annual list with the State of Nevada on 7/15/2013 and not in default anymore:
https://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=v8hYT52LlUeszJd5MWssJA%253d%253d&CorpName=PMX+COMMUNITIES%2c+INC.
Quick look into Florida Department of State website shows that Meris Kott (Meris Goldstein Kott) and her husband Mark Goldstein registered many corporations in Florida (PMX GOLD, PMX GOLD ATM LLC, PMX GOLD ATM INC, PMX GOLD BULLION SALES, PMX GOLD DEBIT CARDS & CREDIT FACILITIES, PMX GOLD FUTURES & FOREX TRADING, PMX GOLD MINERAL OPTIONS TRADING & MINING DEVELOPMENT, MERIS ENTERPRISES, JET INVESTORS, D B T VENTURES, etc). Some of them belong to the PMX Communities structure, others don't, and most of them are inactive now. Interesting...
http://bizavlaw.com/firm_overview.php
I think one of the problems with the terminal could be their "14-days money back guarantee" policy... which is ridiculous, as I stated before. Can you name any other PM dealer that accepts sold items back? I can imagine the lines to return "gifts" after April-June crash days...
Actually, I am thinking about re-entering the stock, so sent them email with detailed list of questions on Friday. Can't say that this update covers them all, but at least it shows that they are alive and doing something... BTW, quick look at insiders transactions shows that the average buy price is about 0.032, so Mr. Lindsey is currently underwater for about $8K. And he doesn't get any salary from the company, right? Poor Perry. :)
With all due respect it looks a little bit childish to me: "I know but am not gonna tell." What's the point of the post then? Whatever is the reason I think it would be wise for them to stop any unprofitable operations that just eat company's cash. This is a time for survival, and not just for PMX. Many miners are closing producing mines, you know?
I think the only real scenario for PMX to survive (especially if we're entering prolonged period of PM suppression) is to be bought out by some solid PM dealer interested in additional distribution chain. Although, most of those candidates are private companies... So, either it could be a reverse merger into PMXO (assuming that buyer would like to go public on OTC), or PMX going private with low ball tender offer to current shareholders. Of course, at this point I exclude the scenario when PMX files bankruptcy and is taken for free. I had this kind of experience before - with real business pinkies (technology, patents, etc.) Frankly, I don't like recent announcements about mysterious "Asians", LOIs, NDAs, etc. Looks like desperate move to me...
Just MHO. I don't own PMXO shares at the moment, so you can ignore it.
Yes, I think SAND warrants are just for trading if you live in USA. I used to hold pretty big position in SNXXF. Actually, I even bought some on Canadian exchange through ETrade Global trading account. ETrade representative claimed that there would be no problem to exercise those Canada-bought warrants. Still... he sounded not very confident :), so I sold them and switched to the stock. I think for Canadian residents it will be profitable arbitrage play closer to the expiration date: sell TSX warrants and buy US version much cheaper.
BTW, you can check how it works for you by trying to exercise some warrants right now, when you still have enough time.
IMO.
Exercising of warrants could be a problem if you are not legal resident of Canada:
The original distribution of warrants by Sandstorm was made pursuant to exemptions from the requirement to register securities under U.S. securities laws. The warrant indenture, which governs the rights of the warrants, provides that a transfer to, and the exercise of warrants by a U.S. person is prohibited unless that individual is able to provide to a legal opinion demonstrating that there is an exemption available from the registration requirements of U.S. securities law.
Please contact your legal counsel before attempting to exercise or transfer the warrants. Your legal counsel should be able to assist you in determining whether there is an exemption available to you that would permit you to exercise or transfer the warrants.
http://www.sandstormgold.com/investors/warrant_info/
Yes, Provident is my favorite place at the moment. And they are selling OPM 10 oz bars with free shipping now.
How (where) do you buy silver w/o premium over spot? The best price I see online is around $19.7/oz. Thanks.
The Best "Bargain" Silver Mining Stocks to Buy Now
...
"#2 Bargain Silver Mining Stock to Buy
Hecla Mining Co. (NYSE: HL) trades for just 90% of tangible book. The company is primarily a silver miner but also produces zinc, lead and gold.
Hecla just took advantage of weak industry conditions to purchase a third mining operation and that will increase gold production levels going forward. Gold production should be 39% of the total for the rest of the year with silver at 38% and the balance consisting of lead and zinc.
The company has very little long-term debt and is financially strong enough to weather the current market disruptions. The company was founded in 1891 so swings in the gold and silver markets are not a new experience for Hecla and its management."
http://www.marketoracle.co.uk/Article41019.html
Maybe it's posted already... but today is the last day for this Provident Metals offer:
"Now through Friday, include an OPM 10 oz Silver Bar in your order and the entire order ships for FREE when you apply discount code OPMSHIPFREE at checkout!
Ohio Precious Metals 10 oz Silver Bars are just $0.89 over spot per ounce, ANY quantity!
Offer ends Friday at 5PM CST."
I've just bought several bars at about $22.7/oz (including shipping).
http://www.providentmetals.com/opm-10-oz-silver-bar.html
Really, can someone tell me what can possibly go "right" for USGIF at this point? Have they found buyer for Drumlummon? The 2nd quarter result will be worse than 1st one, probably much worse... Even if silver spot adds $5 from here it's not going to help. So, what kind of potentially good news can we expect?
BTW, the fact that Sprott sold 3+mln shares recently doesn't look too encouraging. Sprott Asset Management owns less than 10% shares now, and, as far as I understand, won't be shown in daily insider transactions:
http://investors.morningstar.com/ownership/shareholders-overview.html?t=USGIF®ion=USA&culture=en-US
Usually "something's going on" with volume greater than this... but who knows?
I've done some research following SE post about new Canadian $100 silver coin... I never heard the term "non-circulating legal tender" (NCLT) and always assumed that you can always get a face value of Government minted coin at any local bank. Well, it's not the case.
"Non-circulating legal tender (NCLT) is a coin-like object that cannot be used or is not used for payments, so they are not money. They are minted for sale to collectors only. They are also called pseudo coin or medal-coin. Advanced collectors typically try to avoid buying NCLT, so that buyers are often beginning or superficial collectors. For this reason, there is only a shallow secondary market for NCLT, so that it can often be sold only at melt value."
Although some NCLT coins could be a good investment due to their PM content, great design, or low mintage, most of them are just a trick that allows Government mints to exchange NCLT "not money" to the real legal tender currency with big profit. Canadian Mint is especially notorious for doing this. Really, "$20 for $20" coins were sold to investors at face value with free shipping. Many people were under impression that it's a real money "just with silver inside." Later they discovered that nobody recognizes this "money". Banks don't have to accept them (which was confirmed by the mint) and the only painful option you have is to sell them to the coin dealers or exchange in mint store to other mint products. Good examples is Canadian $20 Olympic silver coins. They are currently selling on eBay for ~ $30 (at or below the original mint's price) and when the price of silver was much lower you could buy them for $12 - below the face value! So, the silver content is the only thing that matters. Silver spot should go to $60-100 to make it even for $20 or $100 coins. Mintage numbers are pretty high and as to the design... they are beautiful, but your better buy similar 1 oz rounds that have more upside potential. IMO.
http://www.canadiancoin.com/coin_articles.asp?name=documents/archive/becker_nclt.txt&title=+Some+Thoughts+on+Canadian+NCLT
http://www.thestar.com/business/2012/07/05/coin_collector_learns_the_difference_between_legal_tender_and_spending_money_the_hard_way.html
http://en.wikipedia.org/wiki/Non-circulating_legal_tender
https://www.kitcomm.com/showthread.php?t=75498
One can also preorder them directly from Canadian mint (at face value 1 coin per household):
http://www.mint.ca/store/coin/coin-prod1680033#.UZ82KUqXdaN
But read reviews first. It appears to be a "legal tender" recognized by the mint only:
http://world.mintnewsblog.com/2013/05/royal-canadian-mint-offers-100-silver-coins-for-100/
What is interesting - he used to claim that GLD is a ponzi scheme and doesn't have any physical gold...
Even if he met somebody, as an attorney he could check registration documents and realize that those people don't represent Delaware corporation Markray. Actually they don't represent Russian Markray either (which is managed by different people). What if they said that they are the management of Microsoft? Would he claim that he met Bill Gates?
Here is how four companies are ignoring their shareholders’ votes.
"Forget majority rules. In US-style corporate elections, it’s rarely so simple.
Investors can complain as loudly and clearly as they like, but corporate boards are often free to ignore them, with few or no immediate consequences. That’s true whether the protest involves ousting a board member or changing how the company does business.
...
Your vote doesn’t count. Shareholders gave a vigorous thumbs-down to three directors at Impax Laboratories on May 14, giving them each just 39% to 44% of votes cast. The other four directors on the slate didn’t do so well either: None passed 53%. But in disclosing the official results on May 15, the company announced that all seven had been elected to one-year terms.
... "
http://qz.com/85929/here-is-how-four-companies-are-ignoring-their-shareholders-votes/
Hopefully this won't happen to votes of USA shareholders.
Thank you SilverEagle. I asked this question with hidden hope that we have NGC member on this board who would offer to check the report for me. I bought NGC MS69 coin on eBay recently (best offer was accepted). PCGS site shows MS68 as the highest grade they ever assigned. And NGC certification screen says that only 2 coins were graded 69. So, I just want to know how many NGC MS70s exist (probably none). With current assault on gold there are many opportunities to buy valuable collectible pieces at melt (or almost melt) price. Many people are overleveraged and have to sell their coins in a hurry at discount prices.
I have a question for you, PMIC experts. Does NGC have a free screen to check population reports like PCGS' one: http://www.pcgs.com/pop/default.aspx?t=1 ?
I've taken a quick look and it seems to be a service for paid NGC subscribers... Just need this info for one of my NGC-graded coins. Thanks.
Is Hecla Mining Now A Buy?
"...CEO Phillip Baker Jr. purchased 150,000 shares on the open market for a transaction roughly valued at $478,260. The insider's purchases were made at an average price of $3.19/share. Altogether, Baker now controls 931,432 shares of Hecla Mining Co., and his latest transaction represented an increase to his holdings by 19.2%... this large transaction marks the company's first significant open market purchase made by an insider since August 2011. At that time, Baker had also purchased 33,000 shares at $7.36 for a transaction valued at $242,880.
...
Despite a rapidly declining share price, it remains clear that the company continues to bring on line significant revenue-generating assets. As it stands now, Hecla Mining remains valued with a market capitalization of $884 million, a valuation that is sure to change with the acquisition of Aurizon. Nevertheless, with such a valuation, the company currently supports a price-to-book ratio of only 0.79 while maintaining a forward price-to-earnings ratio of 7.95. Additionally, the company maintains a current ratio of 2.87 while carrying total liabilities of $236.9 million against its total assets of $1.38 billion.
The company appears to be in a rather opportunistic position in the present for investors looking for an entry point. While it's true that metal prices continue to decline, Hecla Mining remains in excellent condition and continues to build upon stable assets with premium margins. The company maintains a corporate history that spans over 120 years, and the confidence of management can clearly be seen by the latest insider purchase. Perhaps one the most telling indicators for investors comes from a rather frank response during the conference call from the CEO himself:
I think all of us sitting in this room, and I think I can speak for the board, are very excited about where Hecla Mining Company is. In some cases we've got some people that have seen this company their whole lives, and I think they can attest to the fact that the company is in the best position that it's in, and that the market is not fairly valuing the company.
With such confidence being expressed by management, investors should continue to watch this company as a potential value play in the present. The latest decline in share price has been lengthy, but the low valuation is beginning to diverge from operational reality. With multiple growth factors going forward and the share price already reflecting a lower valuation to book, Hecla Mining Co. may finally be touching a new level of support at these levels."
http://seekingalpha.com/article/1439481-is-hecla-mining-now-a-buy
I agree, in ideal world it works like this. Unfortunately, in reality nobody will be dumped. They know how to "count" votes. So, the only purpose of the vote is to show the management that retail investors don't like their performance. By voting for Blasuti you will create wrong impression that he is more loved than others, and what happened is not his fault at all. IMO.
I did vote "for"... auditors - to keep it on positive note. :) The rest of points got strong "against".
But they just hired Liggett, Vogt & Webb on Feb. 15... Changing second auditor in less than 3 months (every time when new quarterly report is due) is too much even for startup...
Not sure why you missed 1451 and 1452 "moves".
To answer this question one needs to compare PMXO premiums with premiums on similar items from other online dealers. Does anybody know current prices at PMXO terminal? PMXO bought blanks when gold price was several hundreds dollars higher. So, I guess they don't have enough flexibility comparing to other sellers. And they can't sell with "delayed" delivery like others do. BTW, dealers who keep pre-crash prices on their PM items don't have any problems with inventory.
"Institutional and Fund-level filings are not mutually exclusive so total % owned may exceed 100%."
You counted several funds twice, and correct number is ~20.9%. Plus about 1-2% belong to management. So, retail shareholders do have enough votes to overturn any decision. We just need to vote (which is easy), and they just need to count our votes correctly (which I suspect was not done during the merger).
BTW, Sprott's position does look a little strange. First, it was not updated since 7/6/2012; second, % total assets is shown as zero. Following Southpen I did check Sprott Assets management portfolio - there are more than 100 holdings and US Silver is not mentioned. Still I believe Sprott is here. I check insider trades rather often and would definitely notice sale of multimillion position like this. As I reported earlier there were just several small sales (max 20+K shares), and the purpose was (IMO) to keep USGIF price down.
According to the filing from 4/2/2013 Annual and Special Meeting of Security Holders will take place on May 28, 2013. Record Date for Voting: April 23, 2013. First, I don't recall calling this event "Annual and Special Meeting" before ("Business to be conducted at the meeting: Annual and Special"). At least last year it was just Annual Meeting. So, what is "special" this time? My imagination is spinning already: merger? . I would think the management should try to go into the meeting with some good news and slight improvement in share price. Otherwise... Although, votes are not going to be very favorable to the current BOD anyway...
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00033485
Well, searching the board (I remembered seeing this somewhere):
"The connection stems from Westmount Securities Corp of 3773 Cote Vertu, Suite 300, St. Laurent, Qc, Canada. Westmount Securities Corp received 176,280,000 shares of RVBR for helping make that merger between R'Vibrant Inc and Markray happen. 115,476,595 of Westmount's shares were canceled on April 1, 2011, but they still hold 60,803,405.
Westmount Securities Corp is Gerald Parkin"
Read the rest of this very informative post:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67086873
which states that "beneficiary owners" Parkin+Smolnikova own together more than 150 mln RVBR shares... And you guys don't want to help them sell those shares to public.
"Olga Smolnikova - President"
They really can't decide who is the President of this profitable company. :) In financial report we see:
Alexey Borisov, president
Olga Elkina, Vice president
Svetlana Sakaskina, Vice president
Aleksandr Kovalenko, secretary
Olga Smolnikova, beneficial owner
Westmount Capital Corp, beneficial owner
So, Alexey Borisov popped up from nowhere to "lead" this company.
http://www.otcmarkets.com/financialReportViewer?symbol=RVBR&id=102595
Westmount Capital is a Swiss company:
http://www.westmountcapital.com/
probably another place where Russians keep their money after Cyprus fiasco. Montreal address and phone #:
http://www.yellowpages.ca/bus/Quebec/Montreal/Westmount-Capital-Corporation/7817471.html
Maybe this Canadian version is where you can find Markray's fingerprints, because Swiss one doesn't show big gold producer Markray among their clients:
http://www.westmountcapital.com/Our_Clients.html
Bank of Cyprus Denies Reuters’ Report 10 Tons of Gold to be Liquidated
"So now the question becomes, was the entire story pure MSM fabrication to help the bullion banks smash gold on the release of the Fed minutes (while news that China imported 97 tons of gold from Hong Kong in February was completely ignored), or has perhaps the Troika simply decided that the agreement to the ECB/IMF theft of Cypriot gold reserves by the Central Bank of Cyprus is not necessary?"
http://silverdoctors.com/bank-of-cyprus-denies-reuters-report-10-tons-of-gold-to-be-liquidated/
http://news.xinhuanet.com/english/business/2013-04/11/c_132301446.htm
SOUTHPEN, what do you think about the following scenario (inspired by some posts on another board):
1. Blassuti is still loyal to Barrick Gold and represents its interests in US Silver.
2. Barrick Gold has big problems with Pascua Lama project in Chile, which could be significantly delayed or even stopped by Chilean Government:
http://business.financialpost.com/2013/04/10/chile-court-temporarily-suspends-barricks-pascua-lama-project/
3. Barrick has already sold future silver stream from Pascua Lama production to Sliver Weaton. Now they are going to face a problem: buy big amounts of silver on the open market or acquire silver producer that would cover their obligations to SLW.
4. US Silver at current market cap is an easy acquisition target to ABX which would resolve all Barrick's silver problems. Blassuti is working hard to deliver this "great merger opportunity" to USA shareholders.
I personally believe that was Sprott selling small amounts almost daily before the annual report was published, and it was his sale yesterday. With millions of USA shares in his portfolio those sales don’t do any good for him – a drop in the bucket. So, what was the purpose? IMO: He is probably trying to keep USA share price down… With any weak attempt to rally (like yesterday) someone drops a couple of shares to calm down the bidders. BTW, have you noticed that PENA, which was sitting at 2.00 ask for months, suddenly moved down to 1.28 yesterday?
But tmxmoney shows insider sale 29,400 shares at 1.234 CAD average yesterday. As I remember this site shows 10+% owners. Then it's Sprott?
http://www.tmxmoney.com/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=usa&x=37&y=16
We are so lucky to have English teacher on board.
""We haven't lost our enthusiasm for silver," he told me Monday afternoon. Every dollar of money that was raised by selling shares of [the Trust].. was reinvested in silver or silver equities," he said.
http://www.theglobeandmail.com/report-on-business/streetwise/eric-sprott-defends-selling-his-silver-units/article615848/
New insider transaction: Vice President Daren Dell bought 10,000 shares at 1.12 CAD:
http://canadianinsider.com/node/7?menu_tickersearch=usa
Blasutti is averaging down - bought 14K shares this week:
http://canadianinsider.com/node/7?menu_tickersearch=usa