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Yes, it is. I'm not worried about the Grand View note either. The last thing Grand View wants is a mine!
The truth is Grand View could have taken the mine long ago, but they decided to continue to lend SIRG money and roll the notes over.
99.9% of penny miners don't even have a mine, like SIRG.
NOT TRUE. The most difficult permit is the APP permit. I have been told by BLM many times that their permit process, while long and involved, is not the hardest, especially for a mine that was operating before.
To attack SIRG, when they have come so far is outrageous. Most penny miners are scams and never get anywhere close to where SIRG is at. They deserve a lot of credit for that.
"The permitting process has come to a halt..."
That is not a completely true statement. CDM Smith is working on the APP permit and that is moving forward. CDM was also recently retained to work on other permits for SIRG. The only permit process that has paused is BLM. And that process is almost complete anyway. So, once it is resumed, it won't be long until it is finished.
Not many penny miners get to this point, bumps in the road are expected.
http://www.prnewswire.com/news-releases/sierra-resource-group-engages-cdm-smith-to-assist-with-additional-mine-permits-210084321.html
LOL
That's not SIRG's CEO. But he's aware of what is being posted.
FYI - The whole market is down almost 350 points! Not just a SIRG thing...
I'm showing volume of only 100 shares, can anyone confirm this? Thanks!
Sadly, that was the most ridiculous PR Rod has ever put out. Advice like that in pennyland is a one-way street to scamville.
People need to do their own due diligence, including verifying what the company is actually doing.
LOL Now who was that? His name is on the tip of my tongue....:)
The reporter did not understand the filings. The majority of SIRG's "losses" are non-cash tax losses which will allow SIRG to save millions in taxes.
_________________________________________________________________
There was a lot of misinformation in that article.
The "deficit" the reporter cites is really a carryover loss that can be deducted from future revenue, saving SIRG millions in taxes. It is not a cash loss. It is from depreciation, etc., it is a "loss" for tax purposes.
And the "going concern" language that she cites is standard language for all start-ups with no revenue.
Those that buy in today can probably make a quick profit from these levels in two weeks.
There was a lot of misinformation in that article.
The "deficit" the reporter cites is really a carryover loss that can be deducted from future revenue, saving SIRG millions in taxes. It is not a cash loss. It is from depreciation, etc., it is a "loss" for tax purposes.
And the "going concern" language that she cites is standard language for all start-ups with no revenue.
Those that buy in today can probably make a quick profit from these levels in two weeks.
Yes, the area is well-known for mining. I'm curious too.
Keep your updates coming, I know many look forward to reading them.
I'm sure the article will be out soon. That newspaper has done several stories about SIRG.
IMO shareholders should be appreciative of the heads-up.
Saying he actually paid for them is merely speculation.
HUH???
It is an "Asset Purchase Agreement" and purchase means to "BUY".
It is not an "Asset Donation Agreement" nor an "Asset Gift Agreement"!
Ditto, glad to have you here!
There's NO INSIDE INFORMATION there!! Rod's stating EXACTLY what the SEC documentation, or lack thereof, shows!
Rod has made NO FILINGS, which would be required, that he sold shares because ROD HAS SOLD NO SHARES!!
Just as his email states!
That's the million dollar question - literally!
Then you are sitting pretty! LOL:)
I'm not worried either. Too much good ahead. How many penny miners have spent over a million dollars working with internationally known, well respected firms to secure real permits for production?
VERY FEW. But, SIRG has!
Hi Salty & ballstreet,
This is definitely a buying opportunity. Know what you own!
As we know, the permits are almost here.
GLTAllthelongs
Three cheers for ballstreet!!
Appreciate the update and thanks for taking the time to call BUZZ.
SIRG is one in a million penny miner.
GLTAllthelongs
Rod has not sold any shares and it is quite obvious given that no form 4 has been filed
Form 4 is a United States SEC filing that relates to insider trading. Every director, officer or owner of more than ten percent of a class of equity securities registered under Section 12 of the Securities Exchange Act of 1934 must file with the United States Securities and Exchange Commission a statement of ownership regarding such security.
A Form 4 must be filed before the end of the second business day following a change in ownership of securities or derivative securities (including the exercise or grant of stock options ) for individuals subject to Section 16 of the Securities Exchange Act of 1934. You can verify this in section 16 here http://www.sec.gov/rules/final/34-46421.htm or a condensed version is available here http://www.sec.gov/answers/form345.htm
Definition of 'Form 4'
A document that must be filed with the Securities and Exchange Commission (SEC) whenever there is a material change in the holdings of company insiders. Insiders required to submit a Form 4 include directors and officers of the company as well as any shareholders owning 10% or more of the company's outstanding stock.
In order for a company to be quoted on the OTCBB they "must remain current in their filings with the SEC" and can be verified here http://www.otcbb.com/issuerinformation/issuerinfo.stm so there is no doubt that the company would have to file a form 4 had shares been sold.
There is a very simple explanation as to why there is a change in the number of shares shown, and in fact the number of shares that J Rod owns is somewhat misleading.
Rod actually owns 16,117,467 shares and did not "bank" a penny! PROOF - READ THE FILINGS.
Two images were posted in the sticky post above, the first one shows Rod as a DIRECTOR AND OFFICER and shows he owns 5,530,000 shares and the SECOND image shows additional BENEFICIAL OWNERS and shows J. Rod Martin-CEO and Director owns 10,587,467 shares.
The 10,587,467 shares are actually owned by 5277 Partners LLC and are therefore not technically owned by J Rod. The reason they were previously reported is simple.
Before the AS increase in Shares the 5277 shares were listed because they were over 5% of the A/S. After the AS increase it is no longer 5% or more and not required to be listed.
Because the A/S was increased, Rod's 5277 Partners LLC no longer owns 5% of the common stock therefore it is no longer included in the 10K.
Clouds Valley, Zocalo and Black Diamond are no longer shown either for the same reason as can be seen below.
Clouds Valley Overseas SA, Calle 48 Bella Vista, Edificio Sucre, Panama City, Panama 10,277,100 8.4%
Zocalo Bar SA, Avenida Juan Leon Mera y Calama N523, Quito, Ecuador 9,045,900 7.4%
5277 Partners LLC, 2001 Meridian Ave #314, Miami Beach, FL 33129 9,700,000 7.9%
Black Diamond Realty Mgmt LLC, 3025 Aberdeen Dr, Boyton Beach, FL 33472 7,858,886 6.4%
Exactly, ballstreet!
SIRG is within inches of permits and production.
It went to a little over 8 cents, then fell back some, then went to over 8 again, then tanked.
Hi Ballstreet,
Exciting times ahead!:)
HIGHLIGHTS FROM THE SIRG 10K
Sierra’s primary asset is 80% ownership of the Chloride Copper Mine, consisting of 39 unpatented lode mining claims and 12 mill site claims, located 24km northwest of Kingman, in the Wallapai District, Mohave County, Arizona and some 160 km (100 mi) southeast of Las Vegas, Nevada, or 275 km (172 mi) northwest of Phoenix, Arizona.
We had approximately 96 record holders of our Common Stock at December 31, 2012. We believe that there are in excess of approximately 500 additional beneficial holders of our Common Stock, based on information obtained from our transfer agent and from broker-dealers that hold shares on behalf of their clients.
The Company entered into a promissory note with Brian Hebb on August 16, 2010 in the amount of $34,527. The note has an interest rate of 8% with the maturity date of July 15, 2011. The Company is currently in default of the note. As of December 31, 2012 and 2011, the Company had a balance due including principal, interest and default penalties in the amount of $41,570 and 42,055, respectively. Although management questions whether this amount is a valid liability of the Company, Generally Accepted Accounting Principles (GAAP) requires it to be carried on the Company’s books. The Company will seek all remedies to have the debt removed at a later date.
The Company entered into a promissory note with Black Diamond Realty Management on August 6, 2010 in the amount of $25,000. The note does not have an interest rate on the principal balance and matured on August 16, 2011. The Company is currently in default of the note. As of December 31, 2012 and 2011, the Company had a balance due including, principal, default interest and penalties in the amount of $30,098 and 26,126, respectively. Although management questions whether this amount is a valid liability of the Company, Generally Accepted Accounting Principles (GAAP) requires it to be carried on the Company’s books. The Company will seek all remedies to have the debt removed at a later date.
Effective January 10, 2013 the Company has entered into a Forbearance Agreement with Grand View (the “Agreement”). In consideration for entering into the Agreement, the Company has agreed that it shall perform (or agree to the terms of) the following material requirements: (a) the May Note shall bear an 18% interest rate from November 1, 2012 forward, (b) a deed of trust on the Company’s 80% interest in the Chloride Copper Mine shall be filed to secure the February and May Notes , (c) the exercise price associated with Warrants issued in connection with the February and May Notes shall be reset, and (d) the Company shall issue additional warrants to purchase 6,750,000 shares of the Common Stock with an exercise price of $0.008 provided that the Company may repurchase a certain percentage of such warrants at a purchase price of $0.001 per share if the February 2012 and May 2012 Notes are paid prior to July 15, 2013. In consideration for entering into the agreement, Grand View has agreed to the following material terms:; (i) Grand View waives any defaults and breaches of the Company or all dates prior to the date of the Forbearance Agreement, (ii) both the February 2012 and May 2012 Notes are amended to extend the maturity date of each to July 15, 2013, and (iii) revisions to the February 2012 and May 2012 Securities Purchase Agreements and February Warrant modify the calculation of anti-dilution shares.
On January 30, 2013, the Company and Fogo Inc (“Fogo”) entered into an amendment to the Promissory Note dated July 31, 2012 which changed the maturity date of the note to July 31, 2013. The note interest rate shall bear an interest rate of 13.5% annual rate beginning February 2013 and increasing 1.5% each month with an maximum of 20% in July 2013 provided the note is outstanding.
On February 5, 2013, the Company and Paul C. Rizzo Associates, Inc. entered into an agreement which provided for the execution of a Promissory Note, the granting of warrants to purchase 3,000,000 shares of the Common Stock at an exercise price of $0.0125 per share if the final Environmental Assessment is delivered to the Bureau of Land Management by April 1, 2013 with an additional 250,000 warrants to be issued upon the same terms for each full week that the final EA is delivered before April 1, 2013. The Promissory Note was executed on February 5, 2013 which the principal amount of $536,860.00 representing all outstanding invoices up to December 1, 2012. The Promissory Note shall bear interest at an annual rate of 15% with a maturity date of sixty (60) days after the date the United States Bureau of Reclamation issues a submittal of Environmental Assessment documentation seeking a Finding of No Significant Impact (“FONSI”) or August 1, 2013 whichever occurs first.
On March 6, 2013 the Company and Cella, Lange, Cella LLP (“Cella”) entered into an agreement whereby Cella was issued 6,000,000 shares of the Company’s Class A common stock in exchange for the payment of $42,000 of the balance due to Cella. In consideration for this agreement, the Company also granted Cella fully vested options to purchase up to 6,000,000 additional shares at an exercise price of $0.01 per share. Cella may in its sole discretion elect to apply the amount of the option exercise against outstanding amounts owed to Cella in lieu of receiving a cash payment from the Company. The outstanding balance owed to Cella as of December 31, 2012 shall bear an annual interest rate of 12% until paid.
On April 12, 2013, the Company executed a Second Amendment to the Asset Purchase Agreement (“Second Amendment”) between the Company and Medina Property Group, LLC dated April 23, 2010, amended by the First Amendment to the Asset Purchase Agreement dated June 10, 2010. This Second Amendment provides for the acquisition of Medina’s remaining twenty (20%) percent right, title, and interest in the asset known as the Chloride Copper Mine. The execution of this transaction would increase the Company’s interests in the Chloride Copper Mine to 100%. In consideration for the 20% interest, the Company entered into a 6-month promissory note for seven hundred fifty thousand ($750,000) dollars, forty million (40,000,000) shares of Class A common stock, a 5-year convertible promissory note for four million ($4,000,000) Dollars, and a 10-year warrant purchase agreement for Medina to purchase up to twenty million (20,000,000) shares of its Class A common stock at a share price of $0.27.
Accountant Fees
During the period covering the fiscal years ended December 31, 2012 and 2011, Marcum, LLP and Tarvaran, Askelson & Co. performed the following professional services:
2012 2011
Audit Fees (1)
$ 53,468 $ 33,342
Audit related fees (2)
$ 22,236 $ -0-
(1)
Audit fees consist of fees for professional services rendered for the audit of our financial statements, the audit of our internal control over financial reporting, review of financial statements included in our yearly reports on Form 10-Q, and review and assistance with other Securities and Exchange Commission filings.
(2)
Audit related fees consist of fees for research and consultations concerning financial accounting and reporting matters and related audit procedures for 2012 performed by D. Brooks and Associates CPA’s, P.A. and Tarvaran, Askelson & Co.
Thanks for the unwarranted concerns.
SIRG investors already know all the facts about SIRG - they are serious investors, not flippers. SIRG is an OTCQB Development Stage Company that is fully open and honest with its shareholders. Perhaps it is the failure of some to understand what a Development Stage company is. SIRG like hundreds/thousands of new companies is building a business and that required money that will be repaid with revenues when the Chloride Copper Mine returns to production.
The CEO owns over 15 MILLION shares, 9,700,000 of which he purchased using his own funds at a time when he was not an officer nor a member of the SIRG BOD.
There are not very many OTC companies where the CEO has a personal investment of over $1,000,000 in his company.
SIRG HAD A BUSY YEAR in 2012
January 25, 2012, representatives of Rizzo Associates completed a site visit of the Chloride Copper Mine. The Rizzo Associates team consisted of Dr. Ananda (Andy) Chakrabarti, Senior Consultant, and K. Michael Cline, Principal Geologist. The purpose of the site visit was to provide an independent assessment of the plant, mill tailings, and general site conditions for supporting the Company in bringing the existing SX/EW Plant at the Mine back into full operation. The Plant has been idle since 1996.
On February 21, 2012, Rizzo Associates issued a “Trip Letter Report to Assess Status of the Chloride Copper Mine” to the Company. According to the “Trip Letter Report: “The SX/EW Plant is in good condition; however, in need of minor refurbishment and the replacement of some supporting equipment, but most of the equipment can be used and the Plant can be brought back into working c ondition within a reasonable time frame and limited expense. ” The Company has not currently defined “reasonable timeframe” or “limited expense.”
“We are extremely pleased to have the Rizzo team working to bring the mine back into production and beginning work to improve the accuracy of our reserve estimate,” says J. Rod Martin Chief Executive Officer of the Company.
On May 2, 2012, the Board of Directors of Sierra Resource Group Inc. by unanimous written consent appointed Barton R. Budman and Carlos F. Cardon to its Board of Directors.
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. Mr. Budman holds dual BBA degrees in accounting and finance as well as a Masters of Business Administration from the University of Miami.
Mr. Cordon is the Commercial liaison, since 2011, for the development of telecommunications, mining and energy projects between the Chinese Government Foreign Development Agency and the Central American Business Community. Founder and Director of Tacontento International Corp, a chain of Mexican restaurants with more than 20 locations in five countries. Founder and Director, Los Ranchos, Guatemala, 1994-2011, a steak house chain, with more than a dozen location in 4 countries, including several locations in south Florida. Founder and Director, Yogen Fruz, Central America, Central American Franchisee, 1992-2011, Yogen Fruz is a publicly traded Canadian company and one of the largest frozen yogurt franchising companies in the world. Founder and Director, Mayan Republic Brand, Guatemala, 1985-1995, a merchandiser of hand loomed textile clothing exported to the US and Europe.
June 1, 2012 Sierra Resource Group, Inc. ( OTCQB : SIRG) announced today that it plans to launch its new website in June. Sierra engaged Miami based IT firm, Ingenium Solutions, LLC, to design and build the Company's new website, which will feature easy access to the latest Company news, descriptions of the Sierra's mining properties, resource reports and operations, and a separate section for investor information, including direct links to SEC filings and corporate governance policies. Ingenium is a well respected, total service IT firm that will be handling all IT work for Sierra in the future.
Mr. Martin added: "Sierra intends to use its website http://www.sierragroupinc.com as a means of disclosing material information and for complying with its disclosure obligations under SEC Regulation FD. Such disclosures will be included on the Company's website under the headings 'Latest News'. Accordingly, investors should monitor such portions of the Company's website, in addition to following the Company's press releases, SEC filings and public conference calls and webcasts."
June 6, 2012 - SIRG hosted a Town Hall meeting in Chloride for the locals, BLM agents and government officials.
June 6, 2012, the Company signed a Letter of Intent (“LOI”) with Upward Investments, LLC (“UI”) for the purchase of UI’s 90 acres of land adjacent to the Company’s existing claims. The Company would like to acquire UI’s property for the Company’s mining operations. Further representations and warranties shall be included in the to be drafted Definitive Agreement.
July 25, 2012 Sierra Resource Group, Inc. engaged Marcum, LLC as its new independent registered public accountants, effective July 25, 2012. The decision to change accountants was recommended and approved by the Company’s board of directors. This action effectively releases Tarvaran, Askelson & Company, LLP as the Company’s independent auditor.
8/15/2012 SIRG announced today that its Mine Plan of Operation has been reviewed and accepted by The Bureau of Land Management. This formal acceptance has allowed Sierra to submit its draft Environmental Assessment in order to comply with the National Environmental Protection Agency."We're working closely with The Bureau of Land Management and the interactive process is positive," said J. Rod Martin, CEO of Sierra.
August 5, 2012, Sierra engaged as a Senior Level Consultant, Mr. Joseph Sawyer P.E. a Nevada registered professional mining engineer and former mining engineer for SGV Resources. (SGV owned the mine before Copper Mesa, when it was the Emerald Isle Mine.
Sierra Resource Group awards contract for its Aquifer Protection Permit Transfer and Modification
Aug 14, 2012 - On or about January 2012, the Depository Trust & Clearing Corporation (“DTC”) suspended post-trade settlement services (known as “Global Lock” or “Chill”) for our securities. Upon our inquiry, the compliance department at the DTC advised us that the Global Lock had been instituted due to their uncertainty about the valid issuance of shares of our company held in street name under their nominee Cede & Co. Our management subsequently provided documentation necessary to lift the Global Lock, and on August 14, 2012, the DTC advised us that they had resumed accepting deposits of the Company’s stock for depository and book-entry transfer services.
Aug. 21, 2012 -- Sierra Resource Group, Inc. announced today that on August 1, 2012 it awarded the transfer and modification of its existing Aquifer Protection Permit to CDM Smith (www.cdmsmith.com) a full service, consulting, engineering, construction, and operations company that guides clients across the project life cycle in water, environment, transportation, energy, and facilities.
"We looked at a host of well qualified companies to handle this very important permit process and feel confident in our selection of CDM Smith," said J. Rod Martin, Chief Executive Officer of Sierra.
CDM Smith will prepare all materials for permit transfer, will prepare the BADCT demonstrations for the new facilities as contemplated by Sierra for future operations, will prepare the Amendment (Modification) Application package and final application for submittal and will fully manage the project to completion including handling all meetings with ADEQ and Sierra.
"CDM Smith is well versed in this type of permitting and its inner team has a wealth of experience in dealing with ADEQ," said J. Rod Martin, Chief Executive Officer of Sierra.
September 19, 2012, Sierra engaged as a Senior Level Consultant, Mr. John Marsden P.E., Registered Member (QP), Society for Mining, Metallurgy & Exploration, Inc. and former President of Freeport-McMoRan.
September 28, 2012, CDM Smith formally submitted to ADEQ the revised and modified APP permit and comments were received on November 16, 2012.
November 19th and 20th, 2012, Paul C. Rizzo Associates Inc met with BLM Kingman to define the permitting schedule and go over the MPO comments.
December 1, 2012 a Revised Plan of Operation was Resubmitted to BLM.
SIRG continues to wait for the two permits to be approved and transferred so they can proceed with returning the mine to production.
Exactly.
Also, when people start attacking BLM because they gave an interview praising SIRG, explaining the timeline, and discussing the fact that SIRG's process for permits is no different than anyone else, it is ridiculous. So, BLM is now "bad" too because they have positive things to say about SIRG? Crazy.
SIRG is doing what 99% of penny miners never do. To continually attack them over nothing is crazy. Jealousy is the motivating factor. SIRG is breaking the penny miner mold. Some don't like that.
Glad to see you here, ballstreet!
That "small town newspaper" is in the town where the mine is located!! That's why the interview was done with their paper.
The whole article is an interview directly from Buzz Todd, who works at BLM and is responsible for SIRG's permitting process.
SIRG is the real deal and BLM was willing to go on-the-record about them.
Daily miner article:
12/13/2012 6:00:00 AM
Ahron Sherman
Miner Staff Reporter
The process to open the Chloride Copper Mine, formerly known as Emerald Isle, has been drawn out over the last year, but it's getting to the point where those involved can see a light at the end of the tunnel.
Sierra Resource Group, the Nevada-based mining company working to re-establish the mine, hired Paul C. Rizzo Associates, Inc. to deal with the Bureau of Land Management's permitting process, which starts with the Mine Plan of Operations.
Known as an MPO, the document outlines everything Sierra plans to do with the site, from mining and milling to reclamation. Once submitted, BLM reviews it and, if needed, requests revisions.
"There's been a lot of revisions made to the document over the last year," said Buzz Todd, lead geologist at the BLM Kingman office and the one in charge of Sierra's permitting process.
"But we're very, very close to having a technically complete document."
Todd took charge of the case in September. Sierra thought its MPO had been accepted by BLM that same month, but Todd, who has many years of experience, re-opened the case for additional review.
A better review lends itself to a better product and leads to fewer environmental impacts, he said.
The most recent MPO revision was submitted Dec. 8. Based on what he's seen, Todd expects for Sierra to have a completed MPO no later than mid-January.
After that's complete, the parties involved will turn their attention to the National Environmental Protection Act-required environmental assessment.
This part of the process should be easier than the MPO process because issues expected to come up in the environmental assessment were considered while going through the MPO process, Todd said.
"We've been trying to address environmental issues throughout," Todd said.
The environmental assessment allows Sierra to propose mitigation of significant environmental effects to less-than-significant levels. The proposal will be based on what's been outlined in the MPO.
Todd expects Sierra to have a complete environmental assessment to present to the community for comment no later than mid-February.
"They're doing real good," Todd said of Sierra and Paul C. Rizzo Associates' involvement in the process. "I've enjoyed working with them."
Todd explained that the process Sierra has gone through up to this point is no different than what other mining companies go through.
"The interactive process has been positive and continues according to the schedule laid out by BLM," said Rod Martin, Sierra's CEO. "It's been very smooth, primarily because of what Paul C. Rizzo Associates and the BLM both bring to the table."
The company expects to hire 20 people to work the mine once it begins operations. Some of those are high-level positions. Martin said those are being filled with a staffing service.
For truck drivers and all other labor-based positions at the mine, Martin said Sierra plans to start hiring in April.
Jobs will be advertised in local publications and the community will get a heads up once Sierra is ready to start filling the 18 labor-based positions, Martin said.
THE TRUTH ABOUT SIRG
- Total shares held by SIRG insiders is 37,316,000
It is very rare for insiders to hold that much stock, most of it purchased by them.
- SIRG shareholders were notified in Oct of 2012 that the A/S would be increased and it did in Jan of 2013.
No smoke and mirrors or hiding the increase for a year.
- SIRG's CEO, Rod Martin, owns over 15M shares.
9.7 million of those shares were purchased by Rod for over a $1 million BEFORE he was the CEO. Rod has been a longtime investor in SIRG.
WRONG
There is a difference between authorized and outstanding.
Total issued and outstanding: 352,520,585
WRONG AGAIN
"Especially since the company has hundreds of millions of shares to dump."
That is 100% WRONG.
Making things up doesn't make them true.
LOL
Grand View wanted to roll over the notes or they would not have done so.
Grand View knows that SIRG is almost done with BLM's whole production permitting process.
In fact, the EA (Environmental Assessment), which SIRG is working on now with BLM, is referred to in the documents with Grand View!!! Once the EA is done, the whole permitting process with BLM is complete!
SIRG is a start-up working on the final steps for production permits.
Amazing that some try to take SIRG to task when the majority of penny miners don't even own a mine!!!!
"Actually, SIRG was supposed to file a deed of trust against their 80% interest in the Chloride Copper Mine the first time to secure the two Grand View Ventures notes, but they failed to do so."
Guess who the quote is from?
The mortgage/deed of trust is nothing new.
Grand View simply rolled over their notes and gave SIRG more time. They didn't take the mine.
SIRG is a start-up, stitching together financing while waiting on the "event". This is common in many start-ups. It's like a biotech waiting on FDA approval.
Good luck with your investments SKA!:)
The mortgage/deed of trust was always a condition of the other loans from Grand View, according to some. So, if true, Grand View could have taken the mine before and did not.
They gave SIRG another loan instead!! Grand View knows that SIRG is close to production and obviously sees no problem in giving them more time.
SIRG is the real deal.
LOL
Grand View just rolled their notes over. They gave SIRG another loan a few weeks ago!! Very common in business, especially for a start-up.
SIRG is almost done with all their production permits from BLM, as outlined by BLM in their recent on-the-record interview about SIRG. The only interview BLM has ever done about a penny miner. SIRG is the real deal.
The "spin" won't work. SIRG is the best penny miner out there, with the most potential.
Sounds good to me, Salty!
Start-ups pay far more for financing than established companies. This is not uncommon. In fact, many start-ups have to give away controlling interest or close to 50% of their company for financing!!
It also depends on what the company does with the financing. SIRG is using their financing to make the company worth A LOT MORE than it would be without the financing. They are working closely with BLM and the state, along with their consultants, Rizzo and CDM Smith, to finish their production permits.
To keep screaming about "toxic financing" and "dilution" when, in fact, this money is making SIRG worth MORE because the company will actually be a producing mine, is ridiculous.
SIRG is breaking the penny stock mold and some don't like that.
No Bobcats in fake PR pictures here. SIRG will be a real, producing mine.
GO SIRG
It is a buying opportunity. SIRG will bounce around until permits are done and then we will be golden here.