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You're correct to be cautious. I've been waiting for this stock to produce for years, I don't buy and sell, I've only accumulated. I've paid under 2 cents a share and I've paid over 70 cents a share. I wish I bought it all under 2 cents but that was back in 2009, and you can see how long it's been to get to this point and viable revenues. Way too long. I am a believer in this mine, perhaps not so much in the management as they've taken too long in my estimation, but I'm not in this penny stock to flip it and make a 5 or 10 bagger.
Had I known how long it was going to take I would have sold when this hit $1.58 ( I remember it well) and waited for it to finally drop back under 10 cents. But no one can win on hindsight, you have to guess correctly before hand.
Ista has been trolling this company on boards for years. Under yahoo's old format he had over 10,000 posts just bashing them. It's a penny stock, you are right to be careful, but that guy has mental issues (if you knew his name and history you'd understand, and no I'm not posting it here) with those he's perceived as getting the better of him.
This latest PR is only the first of at least 3 or 4 that could be announced before the end of the year. And the reason it's significant is because these companies have spent the last 6 months doing extensive due diligence on the ore. The PMs are there, they know it, and now they are willing to deal.
To say there are no PMs assumes these large miners (a couple of which I've heard are top 10) don't know how to test ore. Does it make sense any of them would contract without knowing exactly what they are buying?
Newmont tested the ore back in the early 2,000s, and even were going to build a small pilot plant onsite. But the technology back then was such they couldn't get the pms out. They, and everyone else, we using fire assay to prove the gold, couldn't get the gold out that way. They use a gravity separation process now using proprietary equipment (which Newmont recently purchased themselves) that works. When gold prices took off, there were richer fields to go after, so they thought.
I don't know all the details, i just know everyone says it now works, a lot of miners have been testing the ore, and no one has walked away yet. Still a lot of companies interested.
There is a contract signed, a big one, but they need to release the details. Not just that one line throw away in the last pr. Give us the name of the buyer and the terms, so we can judge if this is the real deal. Until we get that no one is going to go all in on this penny stock.
So what can this be worth? I'm not going to pump here, it's a real risk. If they CAN'T get some issues resolved with the Forest Service permitting and get this contract signed, this stock will be back in the single digit pennies by year end. If they can deliver and make a deal to sell this mine, it's going to go for much more than $5 a share. Much more. The resources are massive. And the mine is only 240 acres, but they hold claims to an additional 2,700 acres their geologist told them to file on, and has claimed is as rich as the first 240 acres if not more. The resources on just the 240 acres is said to be 141,000,000 tons at .4 opt or better. That's a lot of gold, platinum, and silver.
The upside is great, but when you've been in it a decade like me waiting, it gets to be a bit of ho hum.
Let me fill you all in.
I've been in this near a decade. The reason the stock price hasn't taken off is no one believes management when they say something. This company has existed for over 25 years, in one form or another. Newmont was testing our ore back in the early 2000s. No one could ever figure out out to separate the iron (this is primarily an iron mine discovered in the 1940s with massive amounts of magnetite and hematite in the ore) from the precious metals. They now have a process. Actually a couple of them.
But announcements of deals and contracts is old news. This is a big contract, but even the smaller ones they've never been able to deliver on. Two years ago they announced a deal with Chinese buyer to ship ore to China in exchange for about $24 million. Then there was a port strike in Los Angeles, then the Chinese wanted us to pay the duties and tariffs. Then after over a year the deal, never completed, fell through.
So what makes this deal different besides the scale? For one thing, and this is very important, our ore has been tested for months by many of the largest miners, this company is confident in their due diligence that the precious metals are there and in the quantities advertised. But the shareholder base wants to know can management deliver this time.
That person is undoubtedly "Ista". He's an ex-employee fired years ago and has bashed the stock for over 7 years now that I have known of. Very few read yahoo anymore because of him.
Current outstanding shares according to our transfer agent is about 359,000,000 and authorized is at 400,000,000. So they have 41 million to work with. When they asked to increase from 300m to 400m in 2014, they stated that the increase was for shares to allow a JV to take place should that happen, but they've since used the shares as equity financing and awarding compensation to the board and contractors. Not many believe them this time. Fool me once.....
There are still things going on which could affect the stock price in a big way by the meeting.
Sorry, I didn't realize you sold 12 million shares yesterday.
I've only been watching this stock for 10 years now. I know the patterns.
Just the market makers taking their profits and buying back shares they sold at a higher price.
That boiler plate has been a part of their filings since the beginning in the early 2000s. Nothing new.
They have some majors looking them over pretty close. We'll see if any of it bears fruit, the annual meeting is on 9/29/16.
Th run up is definitely based on speculation and rumor that big things are cooking.
Up 37% in the first 2 hours of trading today. two weeks ago this stock was at 4 cents and now it's over 27 cents. Amazing it's flying under the radar, not even one post today other than mine.
There was a verbal offer two months ago, it was dismissed as inadequate. I'm not going to get into numbers, they varied depending on who you talked to on the various boards.
Just wait for the next PR, big revenues coming I feel. I've heard numbers on that as well, but they are still just rumor at this point and I'm not going to feed that.
This first deal will not be a JV, it's a straight ore for cash deal for purpose of testing our mine large scale. It could lead to more, but there are still others interested and testing the ore. Anyone or none, could step up over the next month and ask for a formal due diligence contract.
No buy out yet. That's a possibility in the future (i.e. 2-3 months). Driver now is the news out next week, possible revenues coming.
Hovering around 50% increase today. BTW, the PR today was NOT the one I referred to earlier, not sure when they release info on the contracts they are working on (speculation is the first is done, but maybe that isn't so), but that PR will really drive this thing higher.
This will be above 20 cents after the next PR. They are finally proving what they have, now they just need substantial revenues. I believe it's coming.
That's too bad, when a top 5 mining company like Rio Tinto says we want to be in Lithium, every property appreciates.
Does FLPC still have their Lithium leases?
http://www.miningweekly.com/article/rio-tinto-expects-lithium-to-be-in-high-demand-2016-06-02
Rio Tinto expects lithium to be in high demand
I'm surprised no one has commented on the the most recent filings from last week, showing the tens of millions of shares the three principals have awarded themselves. Buying that many shares on the open market and this stock would be back into the pennies. So why the freebie share awards? Are they getting ready for another pump?
The 1k buy was a partial fill for a 1.2 million buy order I had in. Part was filled yesterday, and the remainder this afternoon.
A lot of talk on this board, for a long time now. I just want to see some proof, one way or the other.
MB, you've mentioned legal actions and lawsuits against the company and its principals. Would you mind bringing us up to date on them? Would you know what jurisdictions they are being filed in so we can look them up?
You are either forgetting or you haven't discovered in your research that this stock not only reached 1 cent, but in the late fall of 2013 it reached 8 cents. That brought a lot of new investors in, most of which were the ones burned as it's now straight lined down to it's present state. But those who were in earlier and took profits did pretty good.
Read post #62457 and let me know if you still have trust in Jimmy. Be sure and read the IHub board on SWVI and see how they feel about the mgt (Jimmy included) of that company.
I'm not so sure everyone has done their DD.
I'm sure Jimmy wasn't innocent as well, he's been with Don for years. Here's another one of Jimmy's failures, he was a director and CFO at SWVI. Check out the IHub forum on that one, they are plenty PO'd. Seems the company entered an agreement to mine a property in South America, and defaulted on the agreement. Sounds familar. The 10Q Jimmy signed in November basically says they are finished unless they can sell enough new shares to buy another property.
http://swingplaneventuresinc.com/
http://www.sec.gov/Archives/edgar/data/1497046/000159406214000356/form10q.htm
You've know about these notes for months, and just today you proclaim the world is lost. And now we only have 3 weeks. So if the news you hope to hear comes in 3 weeks and 1 day things are still lost?
This isn't my first rodeo, you people are all the same. End of the world doom. As I said, I don't know if they can get this done, but .0008 or .0011 really doesn't make much difference. What makes a difference is if they can make the next event before BK. If they do the comnpany survives, regardless of the pps. If they can't it's a loser, and always has been. Man up and move on. If you invested too much in a penny stock, perhaps it will be a lesson for the future. There are no sure things in the pennies. Especially mining.
Wanting news on YOUR timetable is not realistic. I've owned a number of mining pink and OTC companies, news is EVENT driven, not time driven. That's just the way it is.
As far as FLPC is concerned, I don't know if this one will make it or not. But I do know people can't be looking at artificial timetables, the stock will move upwards only if certain events have been achieved.
People who post that all is lost because nothing has happened by certain times are unrealistic. Remember, EVENT driven, not time driven. Are they moving forward on certain milestones? If so, forget about the time it takes. If you can't do this you should never have invested in a penny mining stock. You will always be disappointed.
I"ll say it again, if you can't do this you should never have invested in a penny mining stock. You will always be disappointed.
Remember, out of the approximately 3,000 junior miners, only about 10 will be successful. If you chosen the wrong one, you made the mistake. Really not your fault either, you rolled the dice, live with the results.
About the Liberty Processing Facility
http://www.coronetmetals.com/liberty-processing-facility-about.html
They are probably just on vacation somewhere for awhile.
Mr. Pit, any chance you would post your email concerns and Bob's response? Even an edited version would be enlightening. Thank you.
About one month away from shareholders meeting. Should be news before then as well. Much happening behind the scenes I think, only question now is the timing of when certain signposts are reached and they can go public with it. It'll run at that time but probably not before then, imo.
Just a Google search. Trying to find anything new on FLPC I haven't seen before, perhaps on Arabia.
Was this article posted here before, I may have missed it? If anyone hasn't seen it, the article on Fencemaker starts on page 19. I apologize if it's been posted before.
http://issuu.com/insidenorthernnevada/docs/mining_spring_2014
Big volume yesterday and today so far, nothing. Really strange.
Looks like they are trying to drive the PPS down so they can load up before the next jump. There is an 880k bid at .0155 waiting for it to go that low. $13 grand is a lot to risk on this one without an idea it's going higher in my opinion.
I use my brokers l2.
My l2 is showing asks as follows:
.0309 100k NITE
.0309 30k ATDF
.32 715k CDEL
.32 22.1K ETRF
Smart man. DEAC is traded on the OTC, SMAA is a pink. DEAC is in the middle of a reverse split and a name change, when that is finished we'll see what happens next. Shouldn't be too long to get an idea of what is really up.
Steven Frye, CEO of DEAC is the longtime IR person for SMAA.
Reverse split proceeding.
www.sec.gov/Archives/edgar/data/704366/000147793213005857/deac_def14c.htm
I don't know if they are filing with the SEC. The only information I could find was at the OTCMarkets.com
http://www.otcmarkets.com/stock/SMAA/company-info
It shows a 10Q filing just today but my browser can't access it.
http://www.otcmarkets.com/stock/SMAA/filings
New 4 year closing high reached today, $1.31. Expect better later this month when Assay results are released, perhaps even as early as next week. Last year on this date SP was only 13.5 cents.
It just means the SEC has approved the exercise of options for Whitebox Intermarket Partners noted in the 2/9/2011 filing.
Tommy, I'd put your sell order in to your broker at $1.15 right away, it shouldn't take very long to jump past that. ECPN just updated their website today to say the assay reports are due soon, lol.
http://www.elcapitanpmi.com/index.php?option=com_content&view=category&layout=blog&id=37&Itemid=200