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OK guys. You don’t want to hear. I am talking about Foma, and you respond about Erema. I know there are technologies to process technogene resources. Moreover, I used to refer to Japan and Germany where they perform this kind of work. My point was – the estimates for Roshal dump are fake. There is nothing to extract (“vyshelachivat”) over there. I am not even talking about ability of this crew to comprehend this kind of high tech processing. Their purpose is to sell empty shares to gullible American investors. They have done this many times using the same Roshal “assets” under different Pinky covers. But it’s hard to find new fools this time.
Cartridge ML-3560DB for printer Samsung... you can buy it from gold producing company "Markray":
140730 Roshal, Kosyakova St, 18
phone: +7 (49645) 59555
Price: 4256 rub (about $140)
http://www.stressband.com/materialu/868
Installation of tires for heavy trucks from the same partner of Kinross. Just 130 rub:
http://www.v-sh-daniil.net/transport/2312
Ceiling moldings - 831 rub
http://www.ravenswing.com/useful_category/164
Use the phone # above to call and tell them that they produce gold and traded publicly in USA. I bet they will be very surprised.
Maik, regarding Roshal reserves, please don’t miss the point: it’s not about theoretical profitability of this kind of reserves. It’s about the fact that TsNIGRI estimates that Makray mentions on the company’s website and in multiple PRs are FAKE:
”Migachev says the contract document and the report document are “fake”; they have been forged, he charges.
I personally talked to several TsNIGRI representatives, who supposedly performed this work. Nobody from TsNIGRI has ever visited Roshal dump. I guess, nobody from Kinross visited Roshal either. It was a joke, right? :)
I think the person who possesses important insider information about Kinross interest should be able to answer my simple questions:
1. Who is the real President (General Director) of small private company “Markray” in Roshal? Hint: it’s not Smolnikova.
2. What is the real business of this company? Hint: it has nothing to do with gold.
3. When was the last time US registered Markray paid its Delaware taxes? How much does it owe to the State of Delaware?
Thank you for your efforts to make all us rich! If I were you with all this information about the company’s future success I would be quietly accumulating shares at these below penny prices… and wouldn’t tell anybody about this treasure. But you are too kind to follow this greedy tactics… you really care about us, poor American investors. Thank you!
It's a Russian proverb, which means: "I talk of one thing and you talk of something else." You know... he talks about great company that is dealing with bidding war right now and about to be acquired by Kinross, Polyus Gold, or Goldcorp, and other posters talk about something else - a scam that doesn't even have a creativity to look any different from other scams produced by the same crew.
"Regarding the so-called... reserves near Moscow, Migachev (the Director of TsNIGRI) told Mineweb: “this is an old story that there is goldmining next to Moscow and in central Russia. In reality, there are sand-gravel pits where you can theoretically mine gold. It’s approximate content in the mix is 10-80mg per tonne. We’ve calculated the economics, and it is reasonable to get gold from there, if you process 1 million tonnes of this mix per year. It is a very costly, low efficiency goldmining process. It could attract none of the current goldminers. There are no other places which could be called ‘tailing dumps’ around Moscow. I think they are misleading their audience by talking about these pits.”
http://johnhelmer.net/?p=323
Markray likes to mention TsNIGRI fake (according to many sources) estimates of Roshal reserves. Will Kinross confirm your information if/when I contact them? BTW, do you know the name of Markray's General Director in Roshal? Phone number? If you don't I can give you information about this small private company which squeezes pennies from some construction related orders and has nothing to do with gold mining.
How do you know they have 2/3 shareholder vote "in the bag"? I don't believe it's true (although I tend to support the merger). Actually, that's exactly what they want us to believe... in this case retail investors wouldn't vote, and their proxies would be automatically counted as "yes". BTW, why didn't they announce votes count on recent BOD election? (The answer: because they don't want you to know the power of retail investors who voted against the current management).
IMO.
"Full details of the Transaction will be included in the information circulars of U.S. Silver and RX Gold, which are expected to be filed with securities regulatory authorities and mailed to U.S. Silver and RX Gold shareholders in early July. It is anticipated that the shareholders meeting of both U.S. Silver and RX Gold to approve the Transaction will occur by early August. Closing of the Transaction is anticipated shortly after the shareholders meetings."
http://ih.advfn.com/p.php?pid=nmona&article=52698473
Yes, there are many ways to skin a cat, and a rising tide (eventual demise of the dollar) will lift all boats. :) One just needs to avoid common mistakes - don't put your "food money" into PMs and don't use credit card debt unless you can repay it monthly. BTW, paying by personal check often cuts additional 3-5% of premium with most of online sellers. My another personal rule (I know many people disagree here) - don't pay extra premium for PM numismatic items. Buying beautiful numismatic coins is one (and probably the only one ) addiction that I managed to overcome. Another common recommendation that I ignore most of the time: "buy only well recognized brands" (which again means "pay a couple points of extra premium). That's why I beleive that American gold Eagles are a little bit overrated and prefer Canadian Maple Leafs and Austrian Philharmonics (0.999 fineness) or even Austrian/Dutch Ducats (0.986) to American Eagles or SA Krugerrands (0.916). Moreover, my biggest "successes" (and I had a few) were in recognizing new producers/dealers before they became known to the broad public. One example is Monarch Precious Metals that used to sell beautiful PM items bellow spot price to gain market share. Now it's a well known brand in the sector.
IMO.
"I refuse the 20%+ premiums on them"
What's a fair price for 1/10 oz fine gold coin in your opinion? Particularly with current spot ~1,600? Our local sellers have some silver coins for sale (mostly pre-1964 coins), but no gold at all. I was told that all the gold they buy goes directly to refineries...
No worries. After a "short delay" (3+ months already) happy RVBR investors will get $0.9 per share:
http://ih.advfn.com/p.php?pid=nmona&article=51662626
It's a lifetime opportunity: buy at 0.006 now for almost 15000% (!) profit. Russian oligarchs have been buying millions of shares every day. Actually, that's how you become oligarch in Russia - by selling valuable assets for pennies.
BTW, with current market cap US Silver & Gold would have a share price $1.95 - not even eligible for AMEX listing.
"Full details of the Transaction will be included in the information circulars of U.S. Silver and RX Gold, which are expected to be filed with securities regulatory authorities and mailed to U.S. Silver and RX Gold shareholders in early July. It is anticipated that the shareholders meeting of both U.S. Silver and RX Gold to approve the Transaction will occur by early August. Closing of the Transaction is anticipated shortly after the shareholders meetings."
I find this silence from both parties a little strange... They need shareholders votes to get this merger approved. One would expect some kind of promotion ("pump") like mentioning by Sprott or his associates in TV interviews, analysts recommendations, etc. Sprott routinely does this with his other investments... Well, they are probably waiting for TSX approval first... Early July?
Combined USA-RXE company has lost almost 13% of market cap since the merger was announced (from $139.4K to $121.6K). Based on current mcap and proposed USA share it's currently undervalued by 8.5% while RXE is overvalued by 20+%.
Just an arithmetic... which often means more than fundamentals... especially short term.
Yes, Sam is the President & Co-Chief Executive Officer of Teknoscan Systems Ltd:
http://www.teknoscan.com/
http://www.teknoscan.com/corporate/management_team/
I think (just a guess) that poster was "testing the waters" on Sam's behalf. BTW, Teknoscan looks like a real company with real business, and theoretically, if they decide to go public, they can use Strat's shell for "reverse merger". I actually think that SPRL is comparatively clean shell when you compare it with other similar Pink Sheet failures. Although, that Strat-Scotland fiasco put some dirt on the image, Sam has officially denied any connection with it. Other than that... he can claim Strat's failure in Russia as pure business problems... "Venture capital is always a risk".
Bottom line: the reverse merger of Teknoscan into SPRL is possible. My only comment was that there is no way to avoid "consolidation" of SPRL shares in this process.
IMO.
"I know charting is hocus pocus."
I think you can drop these defensive remarks already. Many readers like "hocuses pocuses" and can try them at their own risk. IMO.
Why do you need to convince anybody in anything? We are getting 0.9 per share after the buyout that about to happen (read company's PRs). Do you need competing bids? Just buy whatever you can for 300-bugger.
BTW, we can discuss fundamentals of the combined company and benefits (or not) for USA shareholders. But the arithmetic of the deal is pretty simple. The target share price of both stocks fluctuates with combined market cap of RXE and USA. At the time of the announcement USA was at 1.34 with immediate target 1.58, and RXE was at 0.34 with target 0.25. Right now USA "fair" share price is 1.49 and RXE 0.23.
RXE would never agree to 10% of the NewCo. I am not sure they (shareholders) will support even current 30%. Sprott was pushing both managements to sign the agreement, and they brought USA market cap to the level "acceptable" to RXE management. This "merger" is basically a buyout of RXE by USA with discount to the market price at the time of announcement. RXE share price was 0.34 and simple calculations, based on market cap, show that the buyout price was 0.25.
IMO.
I think they will have enough votes of USA shareholders in any case. I personally like this merger. Will the RXE shareholders vote "yes"? I am not so sure... this could be a problem.
BTW, I still think that current USA BOD should be kicked out. It's clear now that they deliberately stopped AMEX listing and brought the share price down because of the merger plans.
Someone is trying to sell 2.8+ mln shares at 0.0003 with no success so far. Even ignoring the fact that this poster registered with iHub today just to bring us this wonderful news... the statement that it will be no reverse split during the merger means that somebody lies here (probably Sam). Reverse merger into shell like SPRL w/o RS doesn't make sense at all. There will be no room for insiders to sell, and this is the only reason for them to go public.
SOUTHPEN: This is not the first time you are talking about mysterious role of CFO, so I will bite. Can you elaborate a little? Do you think he is the author of this "consolidation" game? Do you think he is Sprott's shill? Is he powerful enough to influence the BOD and CEO decisions? Why do we need a BOD that can be carried away by any employee? Thanks!
You are probably right that it would be the first market reaction. OTOH, I believe the time for "fiscal policy" is over. We crossed the line already. Now the only way out is to print more money and kill the dollar. Whoever gets elected will have to gradually move in this direction. IMO.
BTW, my estimate is 80:20 that Obama will be elected for the second term.
We had a horrible employment data posted today: big miss in the current month (69K instead of estimated 158K new jobs) plus previous month revision to 77K from 115K => we are heading to recession => QE3 is more likely now => PMs react.
It's kind of mystery for me that Sprott still owns all his USA shares (confirmed by proxy documents). Usually Sprott doesn't hesitate to pump companies he invested in... and to sue them at the same time:
http://classicvalueinvestors.com/i/2011/09/aurcana-corporation-silver-producer-on-its-way-to-greatness/
He is suspiciously quiet about US Silver and just keeps losing money (more than 50% already). It's hard to believe that he doesn't have a plan. Is this plan good for other shareholders? That's a question. Sprott could be actually a part of USSIF problems.
IMO: the correct question is: "If I say yes... What does it do?" These guys maybe good geologists, miners, etc. (I trust SOUTHPEN on this), but they are absolutely clueless as to how to manage public traded company. The list of big mistakes is long and well known. They just killed the share price by stupid "consolidation" without uplisting which was already announced. Even insider buying doesn't impress me anymore... The interim CEO gets $400K+ salary (which itself is offensive in this situation. What for?) he can easily buy $10K-$15K worth lots of shares in the public market. Why not? It's shareholders money anyway... What kind of management do we have if our only hope is to see the silver spot go up? Silver price is our BOD and CEO.
Honestly, to me asking "What exactly does that do?" is like for rape victim to say: "Rapist called me... If I put him in jail in protest... What exactly will it do?"
It's just my opinion, of course. I am just tired of feeding these guys.
If true (and I doubt it) this would mean that they don't have enough insiders votes and, particularly, that Sprott with his ~15% shares is going to vote against the current BOD... I've already said "NO" with my couple of shares and want to remind everyone - if you don't vote your shares go directly into "YES" camp.
Insiders keep selling every day. Usually about 40,000 shares. Today: 75,100
http://www.tmxmoney.com/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=ssl&x=14&y=9
It's about 15% of today's trading volume in Canada. Why?
Can they explain what exactly caused AMEX listing fiasco? Without AMEX "stock consolidation" looks like complete failure, it doesn't make any sense.
Well, it's an addiction... I took that 1,000 lot @1.47 :)
Cyclical Bear Continues in Junior Gold Shares
http://www.resourceinvestor.com/2012/05/07/cyclical-bear-continues-in-junior-gold-shares?t=mining-investments
Maybe they just want to free some space for future dilution which "would be highly accretive for shareholders assuming the money raised is well spent"? At least, this author thinks that SSL is overvalued at current levels and recommends shorting the stock in pairs trades:
http://www.metalaugmentor.com/reviews/sandstorm-gold-recognizes-record-gold-sales-and-operating-cash-flow-of-us9-3-million/
If anybody follows the same logic this would explain the recent price action... And insiders were selling yesterday:
http://www.tmxmoney.com/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=ssl&x=36&y=12
Yes, some commentators think that silver spot can visit low 20's at some point, and this would be a time to switch gold holdings for an equal dollar value of silver.
http://www.safehaven.com/article/25262/im-swapping-some-gold-for-silver
I think I mentioned before, I use BullionDirect Nucleo exchange as an indicator of real supply-demand situation in PMs:
http://www.bulliondirect.com/nucleo/showProducts.do?cat=Silver_Bullion&category=1
It's not a paper trading. You can actually buy or sell physical metal there (which I have done several times).
So, what I see now is enormous amounts of silver for sale at very reasonable prices (comparing to the current spot):
5000 1oz rounds @ 31.4
5000 1oz bars @ 31.4
1000 10oz bars @ 314.1
100 100oz bars @ 3,105.0
10 1000oz bars @ 30,800.0
etc. More than a million dollars worth offer of physical silver. Of course, it's possible that someone is using big silver inventory to put a pressure on a spot price, and all offers will disappear when the price starts moving higher. But right now it doesn't look too encouraging... BTW, I don't see anything like this in gold trading, which looks "normal" and, moreover, sellers are on strike by raising premiums.
Just an observation.
Yes, SIBN is notorious for its late filings. :) OTOH, your are definitely right about "something brewing behind the scenes". Here is a short list of recent significant changes:
1. Our "parent" First Iron (former RAM Resources) reverse merged into China Goldcorp Ltd and will be traded on TSXV now:
http://www.istockanalyst.com/business/news/5746929/china-goldcorp-ltd-enters-into-definitive-agreement-with-first-iron-group-plc-in-respect-of-a-proposed-qualifying-transaction
Actually, the initial plan was to be listed in LSE. So, I am not sure whether the plan changed or it's just a part of the global plan to go public "everywhere".
2. Effective March 20, 2012, Michael Hellenbrand resigned as the CEO of SIBN (I believe to take CEO position in First Iron again), and Eran Forman was appointed as SIBN CEO:
http://www.hotstocked.com/8-k/siberian-energy-group-inc-SIBN-1427952.html
http://www.macroaxis.com/invest/manager/SIBN.OB--Eran_Forman
3. We will celebrate a 1 year anniversary of SIBN-RMC restructuring, when current insiders got basically all outstanding shares of SIBN. It means, as I remember (maybe wrong), that some of those shares will go out of restriction next month.
What we currently have is illiquid, basically private, company with almost all the shares held by insiders. The company owns real valuable assets, although they are pretty far, at least couple of years, from production. They need to attract new capital to move faster to production stage. So, where can they go from here?
1. They can take it private. It’s a perfect time to do this if they want – just buy a few shares from members of this board. :) I doubt anybody on iHub holds sizeable post-split positions. So, buy the company and resell it later. There are many interested Russian investors, and I even heard about possible Chinese buyers.
2. They can keep it public. In this case they will need to attract new investors (listing in TSE; join venture; private placement; or something else). SIBN should deserve market recognition as growing exploration company, or acquire some producing (or close to production) assets to show revenue.
3. Some structural changes are possible (and very likely, IMO): official association with First Iron; JV with Chinese company, etc. I always knew that Chinese are very interested in this region and this kind of assets, but recent development shows that the company maybe moving in this direction already.
All above is just my speculation.
I left Scottrade several years ago, but at that time they performed all transactions with Canadian ADRs in Canada. What this means is: behind the screen they convert the currency (you pay premium for this) plus it's hard to get execution sitting on Canadian bid. To buy a stock "for sure" you need to bid a couple of cents above US ask - adjustment to currency conversion. Even tickers in my portfolio looked differently - some ST generated hybrids. Do they display your USA position as USSIF? Actually, there are some good things about this. For example, at Scottrade you can often buy Canadian stocks that are not registered with SEC, and it's hard to buy them anywhere else in USA.
FWIW.
Insiders buys reprted today.
The company bought 23,700 shares:
http://www.tmxmoney.com/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=usa&x=31&y=13
James Macintosh bought 6,000 shares:
http://canadianinsider.com/node/7?menu_tickersearch=usa
The company bought 17,900 shares today
http://www.tmxmoney.com/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=usa&x=0&y=0
Of course, it's not all the management's fault. You just need to compare two USSIF presentations (February and April) to see that fundamentals look less attractive now - more people have to process more ore to produce less silver. But the management IS bad. Without even mentioning their past mistakes (like hedging, for example)... if the AMEX listing is in question now and needs to be "deserved" again, then recent reverse split (and chosen 5:1 ratio) doesn't make any sense. Actually, current USSIF price behavior is typical for penny stocks after they complete "consolidation".
Still, the stock is cheap and getting cheaper every day. I have been adding small lots from time to time... maybe because I am as bad in investing as USSIF management in handling the company's business. Vote them out next June and reject new option plan!
I do feel we are close to the bottom. 1st qrt results in May; shareholders meeting in June... Hopefully they are not suicidal.
IMO.
"Nobody here seems interested in anything other than reaffirming the unfounded assertions of the CEO."
There are 110 bookmarks on this board and about 10 people who post regularly. So, "nobody interested" could be premature conclusion. Although I have a great respect to some posters who argue you, I think your lonely crusade on this board helps those 100+ lurkers to get more objective picture and, at least, start their own DD before jumping in. It may irritates some traders looking for a quick flip, but can't bother investors who believe in claimed fundamentals - fundamentals always win, as we know.