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What I see is token bid slapping, possibly by someone who has a lot of shares, and is trying to prove something.
I'll give the chances of your prediction....45%. Am I doing this right?
I think you missed my point. Wooooossssshhh.
May I remind you...
#5235
I'm never afraid to admit it when I'm wrong about something... I am now adjusting that price target to two weeks and .0175. As factors change or additional information is released I will make the appropriate adjustments.
With the huge bid ask spreads and low volume as we have had here lately, we have to broaden our perspective on price action. It's too easy to paint the tape either direction for pennies, like today. Accordingly you have to abandon specific predictions...
As the volume has tanked and the spread opened up it [making specific predictions] becomes meaningless...
"With regards to our regulatory filings we’ve managed through the unforeseen issues and delays, and currently trying to plan our trip to Peru in the month of April. The Peru audits will also be performed by LL Bradford. So we are right now coordinating with that we are going to have one of our team members who’s also on our steering committee Sebastian Wahl, he’ll be back in Peru in about another week or week and a half, and we will be coordinating our audit trip at that time with the auditor and Sebastian. Right now, so that everybody knows, this is my sole focus over the next 30 days, and there is very little else that my focus will be on other than getting the audits done in filing our comprehensive 10K. At this point that is really the last major milestone that we need to accomplish in the first phase of implementing our turnaround strategy. We have a number of things plans beyond the filings, once we get those current, there’s quite a bit planned with the steering committee members that is dependent on us being current in our filings. So please understand that this, over the next 30 days will be my sole focus. And we will accomplish this objective, I am a bit disappointed in myself that we haven’t accomplished this in the last 180 days, however there were certain aspects of what we were contending with that were out of my hands, and a bit out of our control. It’s just something that we have to roll with the punches, do the best we can, but- this will get done."
Good point! And I don't think it's far fetched to say that these pros on the strategic committee wouldn't come on board, if audits and financials weren't close at hand.
I admire Corey's honesty. He had a target, and didn't quite hit in time. But he'll openly admit it...not make excuses.
NEXT CONFERENCE CALL: MARCH 28TH, 2014!
For those dialing in, call toll-free # below and enter meeting ID
Time: 2:00 pm EST
Dial-In: (855) 212-0212
Call ID: 579-718-211
For those participating online please go to www.startmeeting.com ... Click "Join" and enter Meeting ID 579718211.
2:00pm EST
And if Corey ever needs help with heavy equipment operation, I need to tell him that he can draft me...just need to brush up on my Spanish
Would like to hear the answer. With 333 tons being processed, it's hard to imagine they only have a wheelbarrow
I expect some interesting updates on the audit and filings
And for any new eyes that may be looking around, CEO Corey Sandberg conducts monthly conference calls to offer updates on progress and to answer any questions. The next CC is Friday, 03/28 @ 2:00pm EST.
Questions can be emailed to afygconferencecall@affinitygold.com
I wonder if it's because investors found out they actually use generic pictures on their website, or because their mine has pyrite in it, or maybe because their wheelbarrow only allows them to move 333 tons of ore?
Good question! I would also like to hear the status of Machacala. I know he indicated that production was estimated to begin end of Q1 or early Q2. Is that still on track?
Glad we're able to get these tough questions out of the way
And here's the source for you: http://www.affinitygold.com/#!cambalache-pictures/c1b1u
It's the Cambalache mine. The picture in question is #5, if you weren't able to find it yet
If these are the tough type of questions Corey was referring to...he has it pretty easy LOL
http://www.affinitygold.com/#!cambalache-pictures/c1b1u
Cambalache Mine. Check out all the other pictures of it while you're there!
I certainly don't think its gold. I believe it is normal crystallization and pyrite that you see in every mine.
I think it's time to do some DD on mines in general. Here's a good place to get started for you: https://www.google.com/
Did they ever say that was gold laying on the ground? The photo is real. It's not BS. The BS being conjured up is a personal misconception.
They're showing people the inside of the mine that they own, and are mining from. I think they want to show people that this is real.
As for thinking these are actually bricks of gold every where, I think they assume that people scouring their website and buying sizable positions in their company know at least something about mines... Just my silly opinion, of course.
The committed date on there was referring to the audit being completed. Not the financials being filed. So I'm not sure what the confusion is here.
That picture is theirs, from their mine. If you honestly think those are bricks of gold laying on the ground...well, I don't think you've ever been in a mine before.
While you were looking over the website, I hope you caught this bit of info!
http://www.affinitygold.com/#!financial-reports/cot8
Financial Reports
Affinity Gold Corp. is committed to providing timely and accurate financial reports. The Company will be releasing official comprehensive updates soon and completing a full independent audit by the end of Q1/2014.
But kudos to scouring their website to find something small and irrelevant to keep promoting the conversation here! I feel like you and I have something special
Just realized we're #5 on the breakout board list. How about that
Strong bid. 185k block on .07
Is this the first time we agree on something?? What a special moment
Coinciding auditing and updated financials with new production and another upcoming mine...would like to see how that reflects on the books coming up
And IIRC from one of the previous conference calls, Machacala is planned to start production around end of Q1 or early Q2
It seems like if someone who had a big position really believed that, and assuming that someone actually had a position, you would think that they'd take a standing offer for .10 a share, as opposed to riding it to the bottom.
So it seems to me, either that sort of person doesn't actually believe this Munger Muddle gibberish, or they don't actually have a sizable position.
What do you think?
Regardless of how you consider your position, calling it a "zero cost basis" is still misleading and blatantly incorrect.
Also, it's absolutely impossible to have a sizable position and have nothing at risk. Using your example, you buy 100 shares at .05 for $5, and sell 50 at .10. You now have a gain of $5! But wait! The stock goes under, and your remaining 50 shares are worth $0.
Since you sold half of the position at a 100% gain, but the other half is now worth nothing, you just lost all of your potential gain! You're now back to square one, or "dead even."
That is something many people refer to as a risk.
Also, "average cost basis" would still be .05. Not 0. Think of a cost basis as the base at which something cost you to buy.
I'm not sure you entirely understand the definition of cost basis. Your cost basis is still .05 for the remaining 50 shares, because...well...that's what it cost you to buy it. Just as when you complete your taxes. You can't claim the cost basis of your position as 0. The cost basis will remain at .05 (plus fees, etc).
There's your junior vocabulary lesson for the day.
I'm not sure we want to know the specific answer to that...
It's too easy to paint the tape either direction for pennies, like today. Accordingly you have to abandon specific predictions...
There's a 12% chance that's correct. But if Dennis Rodman goes to visit North Korea again soon, that chance will increase to 62%.