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The world's copper industry will continue to grow and SIRG will be part of that growth industry.
Strikes, government problems, environmental protests and miners being trapped in copper mines, (Chile) all have slowed production.
Freeport-McMoRan Copper & Gold will start its $4 billion mill expansion at the Cerro Verde copper operation in Peru next year. Asked about recent protests in Peru against mining companies, Adkerson said the company has “found a way to have very good relations with the communities and with the local government."
Chile remains the world's top producer of copper with the United States, second with Peru and China next.
Thanks Salty, the SIRG is calmly sitting in the harbor waiting for the permit approvals and funding to be announced. I do believe it is also being retrofitted with jet engines for the day those events are PR'd.
Hard to believe how fast the month of July is passing with August making an appearence next week.
Only 5 months left for SIRG to meet it's target of Jan/Feb production and I am sure activity at the Chloride mine will start in Nov. with the construction of the new and enlarged heap leach pond.
I am also waiting to hear how much more copper SIRG will be able to produce per day with that expansion but I would bet it will be more than 5M lbs a year.
That is an excellent question and shows someone is manipulating the stock. Since several SIRG longs have buy orders in at prices far above that, how can they get filled so low? Are the MMs so desperate to bring SIRG down?
In all my years of trading hundreds of stocks I have never seen anything like that. I stuck in an order at .004 and didn't get a share. This has to be illegal!
Did you buy SIRG back in April when you were looking at it?
I don't think so - it will probably take a year for SIRG to reach .20 but then if they prove an additional 50M lbs of copper on the claim and expand operations, who knows?
And I am sure Mr. Rowland is straining at the leash to start his search for an acquisition or JV for SIRG. I would guess he is already making contacts and checking out possible projects.
Maybe that Bolivian gold mine deal is still on the table.
SIRG signed a letter of intent with Kony Minera S.A. on December 15, 2010. The letter set forth the general terms of a potential joint venture regarding an alluvial gold placer mining project near Santa Cruz, Bolivia.
There can be no assurance that a definitive joint venture agreement will be signed. The Company is currently awaiting bids from a Bolivian based geologist and expects to start the evaluation process when it receives funding for the testing. The Company has 360 days from the date of the letter of intent to complete the evaluation process. If a definitive joint venture agreement is signed, the Company would be responsible for all capital expenditure to put the mine into production.
"It is not Sierra Resource Group's policy to comment on market rumors about company matters," said Patrick Champney, CEO of the Company. "However, these rumors have been so persistent that we wanted to set the record straight. The Company will always release information concerning acquisitions and other material events in a timely manner, when it enters into definitive agreements."
Mr. Champney continued: "We advise investors to rely only upon publicly available information concerning definitive material events as disclosed in our filings made with the United States Securities and Exchange Commission or in official press releases issued by the Company, in order to assess the value of an investment in the Company. Investors should always perform their own analysis and also consult their financial advisors prior to making any investment decision."
http://www.reuters.com/article/2011/01/28/idUS236039+28-Jan-2011+PRN20110128
A JV like this would send SIRG over .20 and with the number of members on the SIRG board from other countries I would not be surprised to see an acquisition with a foreign company.
GDSM traded around .0006 last fall prior to the GDSM shareholders from 2009 starting their well executed I-HUB massive pump that pushed GDSM's board marks over 700 in less than 2 months.
Not me buying GDSM - just too many red flags and reports of gold that cannot be verified, sample reports that are long overdue and might be bad, 185,000,000 shares added to the O/S between Oct-Mar and nobody knows who got them or when they sold them. Hate these little stinky pinkie non reporting companies because you never know what they are hiding!
Like the fact that CHAFFEE transferred the Gold Crown lease to himself and failed to notify WSRA shareholders even months later in his Shareholder Update.
Lovito, the CEO who doesn't one even one share in a company he professes to tout and believe in?? Even Chaffee owns some shares of WSRA!
"The claims show Ore Reserves of 6.75 million cubic yards of ore.
The average ore tenor is 0.025 oz/yd. At $1,800 per ounce, the 168,750 ounces of gold are valued at $303,750,000.
An unusual and significant attribute of the Gold Star property is that the mineralized black sands, unlike most, appear to contain substantial gold values.
Limited testing has shown these values to be fairly uniform across the claims. According to the Jenkins Technical Summary: “If the hi-bar deposits contain (mineralized black sand) gold values throughout, the potential may be staggering, and could far outweigh the free gold placer material.”
Whatever - GDSM investors continue to grab the falling knives and average down and down until their accounts are bled out.
I know when those sampling results come out along with a company update that the PPS will go up pretty fast.
Yes, someone wanted to dump 20,000 shares and sadly nobody wanted to pay more than .0139 putting GEAR down 18.24%.
I believe they were in the oil/natural gas but when that failed they became a wannabe junior mining company.
You might have missed this article that was in the Arizona Republic. I think you will find it interesting.
Article you won't see on the ECPN website!
Mining company doesn't dig, yet soars
by Russ Wiles, columnist - Aug. 21, 2011 12:00 AM
The Arizona Republic
A four-person mining company that is run out of a house in the north Valley has quietly emerged as one of Arizona's more valuable corporations, boosted by excitement over rising metals prices despite uncertainty about its own prospects.
El Capitan Precious Metals has seen its stock vault from 1 cent a share to 58 cents a share, giving it an overall capitalization, or worth, of around $140 million - even though it has never generated operating revenue, let alone profits.
The investment rise of the firm, which trades under the symbol ECPN, has come despite its own conflicting assessments about its main property near Capitan, N.M., in the south-central portion of the state.
"ECPN owns what we believe to be one of the largest undeveloped surface mineable precious-metals deposits in the continental United States," the company states on its website. "An investment in ECPN represents an investment in a late-stage exploration/early-stage development company with a gold, silver and platinum-group metals discovery."
But reports filed by the company with the Securities and Exchange Commission offer a more restrained view.
They portray El Capitan as a capital-depleted entity that might not be able to make the mine commercially viable.
"We currently have not established proven or probable reserves on the El Capitan property," management said in its 2011 10K annual report, "We have not received feasibility studies nor obtained necessary operating permits with regard to the El Capitan property."
An exploration request by El Capitan was denied by the U.S. Forest Service and is pending before New Mexico officials, said Virginia McLemore, senior economic geologist for the New Mexico Bureau of Geology and Mineral Resources.
Chuck Mottley, El Capitan's president and CEO, said the permit wasn't denied but that officials were seeking more information from the company.
El Capitan's financial documents warn that the mine could fall far short of expectations.
"The mineralized materials identified to date on this property have not and may never demonstrate economic viability," the company said in a report.
El Capitan's website indicates the company also has discovered platinum. Yet platinum-group metals are "rare to absent" in New Mexico, said McLemore in an e-mail.
"There has not been much mineral production from the Capitan Mountains and no gold production," she said.
In the past, iron ore was produced from the mine now owned by El Capitan, McLemore said, adding that she could confirm "trace amounts" of gold and silver in selected samples from iron deposits under the company's control.
New Mexico's only producing gold mine is in Grant County, in the southwestern corner of the state, near Arizona.
If El Capitan is sitting on a major lode, you might think other mining rivals would be active in the area. Have major companies staked claims nearby?
"No, they really haven't," Mottley said.
El Capitan boosted its assets by $178 million virtually overnight, to reflect the merger with another company that solidified the El Capitan claim. Based on that, El Capitan's assets surged to $179 million from under $2 million, with virtually no increase in liabilities. El Capitan lists only $200,000 in all other assets.
El Capitan's business address is the home of Stephen Antol, its chief financial officer. Mottley, Antol and fellow executives John Stapleton and James Ricketts all are in their late 60s or 70s and all have backgrounds in other industries.
El Capitan started in 2000 as a food-service company in Nevada. It has lost more than $20 million over its history.
"We have generated no revenues, other than interest income, since inception," the company disclosed.
Despite this unusual history and uncertainty about the New Mexico property, investors in the past two years have bid up El Capitan shares to where the company now is worth more than profitable Arizona businesses such as Amtech Systems and Providence Service Corp.
The company has more shares outstanding than US Airways and is worth one-sixth as much.
El Capitan claims a new method for gold extraction, known as the Wendell method of alkali fusion, is key to turning its mine into one of the nation's most valuable properties.
McLemore, however, said she wasn't familiar with the process.
"I have never heard of the Wendell method of alkali fusion, except by this company," she said.
Mottley said El Capitan was on the verge of an agreement with an investment-banking firm that would give it broader exposure on Wall Street.
He predicts the new gold-extraction method "will revolutionize the mining industry." That, and the pending investment-banking deal, could further boost El Capitan's appeal among investors, he said.
Mottley said the company's strategy was to find a buyer for its El Capitan property, not to start mining operations there.
So far, investors have assigned a significant valuation to a company with no track record that's relying on a new technology to exploit an asset of unproven commercial worth.
Potential might be there, but sooner or later, El Capitan will have to deliver some real results.
Reach Wiles at russ.wiles@arizonarepublic.com.
Read more: http://www.azcentral.com/arizonarepublic/business/articles/2011/08/21/20110821wiles-mining-company0821.html#ixzz1Vhu71VdZ
I don't believe that if you place a "Good till canceled" SIRG order, your broker can remove it and OTC stocks do not trade after hours or per-market.
Don't know if you were a GDSM shareholder during the era of the pump when an insane number of GDSM shares were traded. Look at the volume from the days as GDSM dropped off the cliff. I doubt GDSM will ever attain those numbers again.
Mar 15, 2012.....45,473,338
Mar 14, 2012.....46,591,130
Mar 13, 2012.....17,552,428
Mar 12, 2012.....19,900,480
Mar 9, 2012.....30,480,965
Mar 8, 2012.....29,895,151
Mar 7, 2012.....49,622,239
Mar 6, 2012.....39,889,838
Mar 5, 2012.....55,123,158
Mar 2, 2012.....111,729,990
Mar 1, 2012.....166,832,561
Feb 29, 2012.....57,812,209
Feb 28, 2012.....41,979,057
Feb 27, 2012.....54,051,671
Feb 24, 2012.....36,392,260
Feb 23, 2012.....24,595,744
Feb 22, 2012.....39,127,238
Feb 21, 2012.....37,947,411
Feb 17, 2012.....40,935,390
You are correct - The Save Scenic Santa Ritas Organization is huge with lots of retired professional people supporting it including several lawyers who are working pro bono. They will tie Augusta up for years with lawsuits!
Plus
Rosemont Copper CEO Admits Company Didn’t File Disclosures in Arizona
Local Coalition Files Appeal to Protect Tucson and Southern Arizona Water Supplies
A diverse coalition of southern Arizonans charged today that a key water quality permit will allow Rosemont Copper Company to pollute area groundwater supplies with mercury, arsenic, lead and other dangerous contaminants —without oversight or consequence—for at least two years after mining operations begin.
The Failure of the Rosemont Mine DEIS to Adequately Analyze the
Socioeconomic Impacts of the Proposed Mine
http://www.scenicsantaritas.org/PowerCritiqueFinal.pdf
With all the action in London the next 2 weeks it will be interesting to see how the Horiyoshi store does. That will be a real test.
GDSM continues to drop but its JV partner is taking another major hit today, down 28.57% to .005. With Mr. Jenkins holding the 50M shares he got for the Gold Star he is taking a major hit losing over $100K! OUCH!
The shares Jenkins got in the swap for the mining properties are now worth $250,000! These are the same properties that Jenkins claimed were worth $303,750,000. How does the value of a mining claim drop from $303,750,000 down to $250,000?
ANSWER: It never was worth $303,750,000. Just a fluff figure Jenkins placed on this claims!
Have you called your broker and asked how that SIRG trade was allowed when there were much higher bids?
Can you post a link to those GDSM "filings"? Where are they filed? Are they 10K or 10Q, 8K or Form 4?
GDSM is a pink non reporting company who pays OTCMarkets and pinksheets to post their Disclosure Statements. These are not filings because they are not filed with an SEC agency!
Hondo mine scrutinized
Hondo Minerals Corporation, which operates the Tennessee and Schuylkill mines in Chloride, received three notices of violations from the Arizona Department of Environmental Quality in the last month-and-a-half.
Two of the violations, one for discharging water without an aquifer protection permit and one for not having a permit for storm water discharge, were sent to the company on May 23.
The third violation was sent on June 11 and alleges that Hondo operated two combustion engines - each over 325 horsepower - without an air quality control permit.
Hondo has 30 days from the moment it received the two water violations to respond to ADEQ and 60 days from the day it received the air violation.
Within the responses, Hondo must either prove the violations never occurred or present documentation outlining how it plans to get the required permits and correct the alleged problems.
The mine site and its metal concentration plant are capable of producing gold, silver, zinc and other metals, according to Hondo's website. The property was at one time the largest producer of silver in Arizona. Construction of the plant began in 2011.
"We have received the notices and have been actively working with ADEQ staff toward addressing their requirements," said Hondo CEO William Miertschin.
Mark Shaffer, ADEQ director of communications, said Hondo responded to the storm water discharge violation by paying for a multi-sector storm water discharge permit.
Hondo filed a notice of intent with ADEQ, but the agency wants to see a storm water pollution prevention plan for the project, Miertschin said.
The company hired private consultant Mohave Engineering and Associates, Inc., a civil engineering, surveying and material testing company, to prepare the plan.
Hondo expects to present the plan to ADEQ this week, he added.
"An Arizona pollutant discharge elimination system permit is required for pollutant discharge from any source on the site to a water of the United States or a separate storm sewer system," Shaffer said. "I don't know the topography of this site, but many of these types of operations are typically in rugged desert hills in which the drainage into arroyos would be considered a water of the United States."
Hondo has not set up a pre-application meeting to acquire an aquifer protection permit, which it legally must have to discharge at the mine site, Shaffer said.
An aquifer protection permit is required in Arizona if you own or operate a facility that discharges a pollutant either directly to a subterranean aquifer or to the land surface or vadose zone (the area between an aquifer and the land surface) in such a manner that there is a reasonable probability the pollutant will reach an aquifer, Shaffer said.
Right now, the site is a zero-discharge facility, Miertschin said. In the future, Hondo may need to discharge pollutants, so the company is pursuing the permit anyway.
"It's very important that mining operations follow state law and acquire the proper permits before they start operations," Shaffer said.
"Our investigation of this matter is ongoing and a lot of this is dependent on the pre-application (aquifer protection permit) meeting in which we actually sit down and meet with them and review their engineered drawings."
The meeting allows Hondo to discuss issues relevant to getting their permit, such as groundwater monitoring, design, best available demonstrated control technologies, operations and closure.
The meeting would also be used to determine if an individual or general aquifer protection permit is appropriate, according to ADEQ documents.
Hondo still has until Aug. 12 to come into compliance with the air quality violation, and the company is still within its 60-day deadline to respond, Shaffer said.
Miertschin said the engines are not permitted, but that they fall within ADEQ compliance guidelines.
"We were caught unaware on this one," he said. Newly enacted regulations require the permit for the engines, but Hondo didn't know of the rules, he said.
Next year, the engines will be out of compliance because regulations are set to change once again. They will need to be retrofitted in order to remain compliant, Miertschin said.
"The investigation on the air quality side is ongoing," Shaffer said. "We can't speak to the seriousness of that violation or (explain) what is next until we receive a response from them on that matter."
It is the responsibility of the company to have all permits required for their operations to be in compliance with the law, Shaffer said.
Though construction was yet to be completed, the Mining State and Health Administration designated the site as an operating mine on May 17, said Hondo Operations Manager Rhena Drury.
This led to ADEQ discovering the violations, even though the site didn't go live until June 27.
"I told (ADEQ inspectors), 'What you tell us to do, we'll do,' " Drury said.
Hondo has worked closely with ADEQ since, but "we're just a little behind the curve."
http://www.kingmandailyminer.com/main.asp?Search=1&ArticleID=51761&SectionID=1&SubSectionID=798&S=1
Ore Reserves: The claims show Ore Reserves of 6.75 million cubic yards of ore. The average ore tenor is 0.025 oz/yd. At $1,800 per ounce, the 168,750 ounces of gold are valued at $303,750,000. An unusual and significant attribute of the Gold Star property is that the mineralized black sands, unlike most, appear to contain substantial gold values. Limited testing has shown these values to be fairly uniform across the claims. According to the Jenkins Technical Summary: “If the hi-bar deposits contain (mineralized black sand) gold values throughout, the potential may be staggering, and could far outweigh the free gold placer material.” Ultimately, total mineable free gold reserves are estimated at $700 Million +.
http://goldtechmines.com/gold%20star%20main.html
Reports by Don Jenkins, the previous owner of the claim are not reliable because there is no assay sheet nor the name of the assay company included. These can best be considered "promotional" material along with the report done by Stoddard in 2009. Reports created with the intent and purpose to peddle the claim to some unsuspecting buyer. Further Jenkins is no longer a registered CPG!
Doesn't anyone wonder why Don has been unable to sell that claim since 2007, especially with the rise in gold prices? Appears that a claim on the market for 7 years might be a "lemon".
A lot of GDSM shareholders are throwing in the towel but the pump will continue and hopefully GDSM shareholders will convince new investors to take a gamble on this high risk investment.
Sorry but 50 5 gal buckets of gravel, even if the test results are positive is not going to be enough for GDSM to recover. Further those buckets are from the AZ Gold Crown lease that is now owned by Mr. Chaffee!
A complete Feasibility Study proving that there is enough gold to sustain the development of a mining operation is needed and will be required to get a mining permit. BLM will consider the test results and the MOP along with the bugs bunny study and then decide if there is enough ore to make the Gold Star a profitable operation.
Arizona State Trust land will require a whole different set of documents plus a Royalty Agreement. They are not going to allow a placer mining operation to destroy/damage state land unless it can produce big bucks for the trust.
I do believe it is only part of the reason for the GDSM share price drop.
Chaffee posted that the sample results would be released to GDSM the first 2 weeks in July - verify on WSRA's website - June 30th shareholder update!
It is now July 25th and still not a word from Marc. That is 11 days past the date GDSM investors expected to learn those test results and every day, more are giving up hope as they continue to watch the blood flow. Many of them averaged down and down and now that "falling knife" has bled them dry and they are losing confidence.
Only a PR with great assay sheets attached including the name of a registered geologist or mining engineer on that report can save GDSM.
Sorry, just does not look like it's going to happen.
Oh dear - is that VERT I see there on GDSM? That is really bad news as VERT is the MM that usually represents companies that need to dump shares.
And look at the BUY - SELL orders. Appears to be another dump day.
Buying at .002 might not be a good trade due to the failure of GDSM to release those sample results. They must be really bad because if they were good or great, Marc would have touted them quickly. He has to be aware that GDSM shareholders are abandoning ship due to the lack of information and the new facts about GDSM that have recently come to light.
What will it take for Marc to realize how much he is hurting his shareholders who he claims to be building shareholder value for? How can he watch the GDSM share price drop day after day and not follow through with that PR??
OH I FORGOT MARC DOESN'T OWN ANY SHARES SO WHY SHOULD HE CARE?
GDSM is very good at smoke and mirrors, better than most pink companies I follow.
GDSM has 2 pictures on their website and neither are of their projects.
If GDSM were open and honest - why not place the actual pictures on their website instead of Facebook?
Then what in your opinion caused the cliff dive by GDSM in late Feb and early March.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72632253
The simple fact is that millions of shares were dumped from those 185,000,000 that were issued plus Jason Cooper's 30+M shares.
GDSM rose to a Fair Mrket value of over $16,000,000 making it grossly over priced and over valued.
Nobody would pay $16,000,000 for a company that's only asset is a now questionable JV with WSRA especially after the failure of the 2 previous JVs, especially since history often repeats itself.
RETIRED" 275mm, shares
I see no PR on GDSM again today. Day by day anxious investors wait and hope that tomorrow will be the day only to be disappointed again and again.
Proof has been provided and posted that the POO for the Gold Crown lease in Mr. Chaffee's name was approved and an exploration permit was issued to Mr. Chaffee.
No permit applications were found for the Gold Star but someone should call the BLM Phoenix office and inquire about permit application status.
The fact that the permit was denied when submitted under WSRA and Don Jenkins but approved under Mr. Chaffee's ownership and application should have investors digging to hell to find out what they invested in.
It is possible that the exploration permits for the Gold Star were also submitted under WSRA and Jenkins and denied and had to be resubmitted. Only research by GDSM shareholders will reveal the facts.
It's also possible that the bugs bunny study has not been submitted delaying permit approval. There are many reasons why BLM takes much longer than the state of Arizona. Arizona wants to create jobs while the feds could care less.
It is simple to call an ask a state employee to verify a public document. Are 5 gal buckets of surface dirt dug and filled by shovel all that is allowed on the Gold Crown?
The POO, listed in the info box, which clearly outlines what sample testing is allowed (5 gal buckets,etc.), can be VERIFIED.
The state employee who handeled the permit is listed on the document along with his phone number and email address. His name is Larry Meier, his phone number is 602-542-2642.
Which concerned GDSM investor is going to make the call??
Hondo mine scrutinized
Hondo Minerals Corporation, which operates the Tennessee and Schuylkill mines in Chloride, received three notices of violations from the Arizona Department of Environmental Quality in the last month-and-a-half.
Two of the violations, one for discharging water without an aquifer protection permit and one for not having a permit for storm water discharge, were sent to the company on May 23.
The third violation was sent on June 11 and alleges that Hondo operated two combustion engines - each over 325 horsepower - without an air quality control permit.
Hondo has 30 days from the moment it received the two water violations to respond to ADEQ and 60 days from the day it received the air violation.
Within the responses, Hondo must either prove the violations never occurred or present documentation outlining how it plans to get the required permits and correct the alleged problems.
The mine site and its metal concentration plant are capable of producing gold, silver, zinc and other metals, according to Hondo's website. The property was at one time the largest producer of silver in Arizona. Construction of the plant began in 2011.
"We have received the notices and have been actively working with ADEQ staff toward addressing their requirements," said Hondo CEO William Miertschin.
Mark Shaffer, ADEQ director of communications, said Hondo responded to the storm water discharge violation by paying for a multi-sector storm water discharge permit.
Hondo filed a notice of intent with ADEQ, but the agency wants to see a storm water pollution prevention plan for the project, Miertschin said.
The company hired private consultant Mohave Engineering and Associates, Inc., a civil engineering, surveying and material testing company, to prepare the plan.
Hondo expects to present the plan to ADEQ this week, he added.
"An Arizona pollutant discharge elimination system permit is required for pollutant discharge from any source on the site to a water of the United States or a separate storm sewer system," Shaffer said. "I don't know the topography of this site, but many of these types of operations are typically in rugged desert hills in which the drainage into arroyos would be considered a water of the United States."
Hondo has not set up a pre-application meeting to acquire an aquifer protection permit, which it legally must have to discharge at the mine site, Shaffer said.
An aquifer protection permit is required in Arizona if you own or operate a facility that discharges a pollutant either directly to a subterranean aquifer or to the land surface or vadose zone (the area between an aquifer and the land surface) in such a manner that there is a reasonable probability the pollutant will reach an aquifer, Shaffer said.
Right now, the site is a zero-discharge facility, Miertschin said. In the future, Hondo may need to discharge pollutants, so the company is pursuing the permit anyway.
"It's very important that mining operations follow state law and acquire the proper permits before they start operations," Shaffer said.
"Our investigation of this matter is ongoing and a lot of this is dependent on the pre-application (aquifer protection permit) meeting in which we actually sit down and meet with them and review their engineered drawings."
The meeting allows Hondo to discuss issues relevant to getting their permit, such as groundwater monitoring, design, best available demonstrated control technologies, operations and closure.
The meeting would also be used to determine if an individual or general aquifer protection permit is appropriate, according to ADEQ documents.
Hondo still has until Aug. 12 to come into compliance with the air quality violation, and the company is still within its 60-day deadline to respond, Shaffer said.
Miertschin said the engines are not permitted, but that they fall within ADEQ compliance guidelines.
"We were caught unaware on this one," he said. Newly enacted regulations require the permit for the engines, but Hondo didn't know of the rules, he said.
Next year, the engines will be out of compliance because regulations are set to change once again. They will need to be retrofitted in order to remain compliant, Miertschin said.
"The investigation on the air quality side is ongoing," Shaffer said. "We can't speak to the seriousness of that violation or (explain) what is next until we receive a response from them on that matter."
It is the responsibility of the company to have all permits required for their operations to be in compliance with the law, Shaffer said.
Though construction was yet to be completed, the Mining State and Health Administration designated the site as an operating mine on May 17, said Hondo Operations Manager Rhena Drury.
This led to ADEQ discovering the violations, even though the site didn't go live until June 27.
"I told (ADEQ inspectors), 'What you tell us to do, we'll do,' " Drury said.
Hondo has worked closely with ADEQ since, but "we're just a little behind the curve."
http://www.kingmandailyminer.com/main.asp?Search=1&ArticleID=51761&SectionID=1&SubSectionID=798&S=1
Yes it is pathetic when legal documents are posted and the investors refuse to accept them. The POO has a contact number by phone and an email address but GDSM shareholders either don't want to verify the document or choose to remain silent after verifying it.
Oh is there going to be another pump on WSRA?
This 100+ year old mining company still trades sub-penny on the pink sheets, not much of a success record.
Let me know when the pump is coming. Mr Jenkins might pay for one so he can unload some of his 50,000,000 shares.
The problem as I see it is that GDSM and WSRA are still looking for gold and apparently not much was found in those 50 5 gal. buckets that they had to hand dig and hand carry to their truck.
Still no PR on those sample results is very bad. Lovito does not want to release bad news when the share price has dropped over 50% already but then why should he be concerned. Lovito doesn't own any stock in GDSM so his only agenda is to try to keep GDSM in the JV game.
And that JV no longer includes the Gold Crown since the lease no longer belongs to WSRA. Maybe they are busy working on a new JV with Mr. Chaffee replacing WSRA as the JV partner and will inform shareholders next month!
Pebble mine: 'If God were testing us, he couldn't have found a more challenging place'
Frik Els | July 23, 2012
The Pebble project in Alaska, a 50-50 partnership between Anglo American and Northern Dynasty Minerals, is the subject of a new documentary from Frontline called Alaska Gold to be aired on Tuesday on US public television.
It is arguably the richest prize in mining. The deposit hosts 55 billion pounds of copper, 76 million ounces of gold, 3.3 billion pounds of molybdenum, and quantities of silver, palladium and rhenium.
So far the Pebble Partnership has invested about $500 million over almost a decade and the project has its backers including former Alaska governor Sarah Palin, but has run into strong resistance from environmental groups.
Frontline finds many against Pebble including a former Alaska state senator named Rick Halford:
He cleared his land with dynamite. He calls himself the "ideal redneck Republican". As a longtime leader in the state legislature, he never met a hard-rock mine he didn't like.
That is, until he took a long look at the proposed Pebble Mine in south-west Alaska. It is a phenomenal prospect, the biggest and richest in North America. But to dig a mine there is to make a Faustian bargain that involves an agonizing Alaskan twist.
In return for copper and gold worth an estimated $500bn, state and federal regulators risk poisoning what scientists describe as the last best place on earth for millions of wild salmon.
"If God were testing us, he couldn't have found a more challenging place," said Halford, who helped write Alaska's industry-friendly mining laws when he was president of the state senate.
But the project also has its supporters, including among locals:
"If Pebble wasn't here, I don't know where I would be working," said Sheena Ishnook, 23. She has a $17.50-an-hour job operating an incinerator in Newhalen, a village on the lake. The job is funded by the Pebble Partnership, as part of its campaign to win over local support.
With her savings, Ishnook bought an iPad and is saving for a snow blower and a pick-up truck. She knows that the mine might harm the salmon she and her family rely on for food. "It is kind of a big risk," she said. "But other than that, it gives us job opportunities, makes us stay here at home instead of moving away."
Pebble was slammed in an EPA report released in May concerning the proposed open pit mine and 140 km slurry pipeline upstream from Lake Iliamna – part of a water system where 30–40 million sockeye salmon spawn each year – and the impact on the world's largest salmon fishery, 80 km south of the lake in Bristol Bay.
Last November, 81% of the Bristol Bay Native Corporation — the largest private landholder in southwest Alaska — rejected the mine on the basis that it will "unavoidably put at risk the 'fisheries and our Native way of life."
A month earlier, voters in the Lake and Peninsula Borough narrowly supported (by 34 votes) a ballot measure put forward by anti-Pebble activists that would restrict future development that affects more than one square mile of land within the 31,000 square mile borough.
The ordinance, however, is being challenged in court by the State of Alaska which argues that it seeks to undermine state authority over large-scale resource development.
http://www.mining.com/2012/07/23/pebble/?utm_source=digest-en-mining-120723&utm_medium=email&utm_campaign=digest
GDSM, has had "NO DILUTION".
When you you expect WSRA to spike?
Since WSRA no longer owns the Gold Crown, they just lost a huge asset.
See Mr. Chaffee wasn't able to get an exploration permit for the Gold Crown. He applied under the name Western Sierra and listed Don Jenkins on the application. IT WAS DENIED! And the POO is dated April 19th. Why didn't Chaffee acknowledge what he had done and the reason in his June 30th shareholder update?? Why keep investors in the dark? No transparency here at all.
Appears either WSRA or Mr. Jenkins has a bad rap with the Arizona State Land Trust Dept.
Note that the "Directing Geologist" was Don Jenkins with his Certified Professional Geologist (CPG) registration, and his Mining Engineer (ME) registration. He has since resigned his CPG (which is not a registration recognized by the State of Arizona anyway). His Mining Engineer registration is not, and never was valid in Arizona.
So no problem - Chaffee just transfers the lease for the Gold Crown to himself and applies for the permit in his name and gets it.
Not sure how this affects the JV with GDSM since one of the assets no longer belongs to WSRA.
Very shady operation here. CEO raiding company assets??
SIRG owns 80% of the Chloride Copper mine valued at $12,000,000 with potential future revenues of over $100,000,000. Asher does not own SIRG, the notes are a pittance compared to SIRG's assets.
Just as all OTC investors take a gamble, SIRG gambled that they would have the funding released before any Asher notes expired. But when you are building a company, you do what you have to do.
Maybe you think it would be better if SIRG just walked away like other companies do when they can't get funded.
Put SIRG on your watch list and watch it run when the permit approvals and funding are announced.
Below are pictures of SIRG's mining operations. Real pictures at a real mining property.
Puzzling why the GDSM investors are not contacting Larry Meier at ASLD as the phone number is listed on the POO. 602-542-3642 and verifying the document.
Sometimes investors fail to do the research required to limit the risks when buying pink sheet stocks.
That's easy to do. Call the BLM Phoenix office and tell them you would like to make an appointment to review the Gold Star claim history.
If that doesn't work, you can check here for registered geologists or engineers who could review the files. Of course it would cost a couple hundred of dollars.
http://www.azbtr.gov/listings/professional_registrant2.asp
Our system posted a SELL-IF today. The previous BUY recommendation was issued on 07.23.2012 (1) day ago, when the stock price was 0.0037. Since then GDSM has fallen -8.11% .
A bearish pattern has developed and a SELL-IF alert is issued today. You will also see if we erred badly in our previous BUY signal. So a warning is in order. A confirmation in the next session means that the signal failed. You might lose a significant amount in this case.
http://americanbulls.com/StockPage.asp?CompanyTicker=GDSM&MarketTicker=OTC&TYP=S
Agree! Barton Budman will prove his worth as CFO.
Mr. Budman is a Certified Public Accountant licensed in the state of Florida. Since 2007, Mr. Budman has served as the Chief Financial& Operating Officer for a world renowned mega-yacht manufacturer, chartering company, and real estate investment & development organization, Broward Yacht & Marine / LPI Holdings, LLC with total annual revenue in excess of $135 million.
From 2002 to 2007, Mr. Budman held a Partner position at a regional accounting and consulting firm, Garcia, Espinosa, Miyares, & Co, where he was instrumental in co-building and managing the firm. While with the accounting firm, Mr. Budman practiced in all areas of public accounting including tax, accounting and auditing, operational business consulting, mergers and acquisitions, litigation support, initial public offerings, SEC compliance, and financial and tax transactional due diligence serving public and privately held clients. He also worked as a Senior Audit Manager and Consultant for the accounting firm from 1997 to 2000. From 2000-2002, Mr. Budman served in a variety of executive level financial positions at Tech Inspirations, a venture capital firm based in Miami, and as Chief Financial Officer for XBOX Technologies, a publicly held technology incubator eventually acquired by Microsoft Corporation.
Mr. Budman holds dual BBA degrees in accounting and finance as well as a Masters of Business Administration from the University of Miami.
It is my guess that Brad Hacker was replaced due to SIRG getting chilled which is just poor record keeping. If Mr Budman had been at the helm that would not have happened.