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At the Risk of Being Repetitive-ROYAL FLUSH Coming!
Beats 3 Aces and one up the sleeve ... mark my words. lol
Yes this is an investment ...
in a potentially world class mining property in it’s earliest stages of development!
It is true that over 1 Billion shares were represented by proxy and in person by the 400 in attendance at the recent shareholders meeting. This represents only 1/5 to one 1/3 of all shareholders. How can this be possible when only 711 million shares have been issued in MDMN? We all know naked shorting does not exist. Right? Therefore, this in itself should not be reason to buy or sell shares in this company, nor should the announcement of a pending 1:10 share dividend.
Just do your own DD on the available thousands of meters of geologic drilling reports. Estimates currently exceed $2 Billion of valuation. The valuation has nowhere to go but up from here as drilling progresses!
Medinah Minerals stock is not subject to asking tea leaves whether it warrants your investment dollars and consideration. No crystal ball here. I’d liken the current trading and pps movements more like mimicking a high stakes card game that is NOT subject to fortune telling parlor trickery. MMs and brokerages know they've always held three aces and one up their sleeve. This is the normal hand the dealer holds on the pink sheet companies. What the dealer is about to realize is Medinah, having been at the table fourteen years is not leaving, and for good reason. The pot has grown very large and Medinah is about to lay down a Royal Flush!
ExB - Only 11.7 % last Week?!!!
How about the overall return over the last 3-4 years? lol
Looks to me like the chart is saying - the money will definitely be in, the partner will announce and be named; and the partner is a legitimate major. We already know it is publicly traded, and likely will have outstanding audited financials!
Thanks for the excellent chart and annotation of where this stock is trending.
Invested in the Mountain…
And that’s what counts!
Easy
Yes this is an investment ...
in a potentially world class mining property in it’s earliest stages of development!
It is true that over 1 Billion shares were represented by proxy and in person by the 400 in attendance at the recent shareholders meeting. This represents only 1/5 to one 1/3 of all shareholders. How can this be possible when only 711 million shares have been issued in MDMN? We all know naked shorting does not exist. Right? Therefore, this in itself should not be reason to buy or sell shares in this company, nor should the announcement of a pending 1:10 share dividend.
Just do your own DD on the available thousands of meters of geologic drilling reports. Estimates currently exceed $2 Billion of valuation. The valuation has nowhere to go but up from here as drilling progresses!
Medinah Minerals stock is not subject to asking tea leaves whether it warrants your investment dollars and consideration. No crystal ball here. I’d liken the current trading and pps movements more like mimicking a high stakes card game that is NOT subject to fortune telling parlor trickery. MMs and brokerages know they've always held three aces and one up their sleeve. This is the normal hand the dealer holds on the pink sheet companies. What the dealer is about to realize is Medinah, having been at the table fourteen years is not leaving, and for good reason. The pot has grown very large and Medinah is about to lay down a Royal Flush!
Waiter, where are those lobsters I ordered? lol
If You're in ... You're In
Invested in the Mountain…
And that’s what counts!
Easy
Hey Mariner!-The Water Has Started a Rolling Boil!
Where's the waiter?
I put my order in ages ago!!!
Enough shenanigans ...
Do I need to reorder?
Isn't it time those lobsters got tossed into the pot?
lol
Invested in the Mountain…
And that’s what counts!
Easy
BillyJack-You Got That Right!
Longs are celebrating tonight, and will continue for many years to come!
PRs from the major will drive this home - count on it - and here is the kicker:
At the conclusion of the development program, the gross metal values will be recalculated and, if this value exceeds the present base calculations of Two (2) billion dollars, the purchase price will be increased to the benefit of Medinah Minerals (Chile) S.A. owners. The goal of the purchasers is to prove up substantial ore tonnages beyond base amounts derived in all previous explorations.
Copper occurs in many forms, and in a variety of geological settings. There are various factors to consider in determining the value of a copper deposit. Historically, the most profitable mines have been large scale porphyry deposits, with chalcopyrite mineralization extracted via open-pit mining.
One of the largest copper mines in the world is the Escondida mine in Chile. Escondida means “hidden” in Spanish, and the deposit was given the name because there are no outcrops; in fact the main orebody is hidden below hundreds of meters of overburden. Copper production figures change rapidly, but in 2007 Escondida was the highest producing copper mine in the world. In 2007, the mine produced 1.483 million tonnes of copper worth US$10.12 billion.
Mining Costs
The largest, most profitable copper mines have been open pit mines. Of particular importance, in an open pit mine is a resource that is relatively close to the surface.
In conclusion, a world class deposit is one in which the value of the copper reserve far exceeds the cost of mining and refining. To date, some of the biggest copper finds have been the Kennecott Copper Mine, a large scale porphyry deposit, Escondida, and the Chuquicamata copper porphyry complex.
Thanks ExB
You put into words and spelled out the intuitive points that this long left out. Truth is, most longs know this information and hardly even give it a second thought these days. Nicely put!
I can't take credit for it, but:
"The lobsters are already in the pot, and the fire has just been turned on and the cover slammed down. They're as good as cooked." LOL
If You're in ... You're In
Invested in the Mountain…
And that’s what counts!
Easy
Perhaps misinformation can be cleared up
by simply "googling" the definition of a short squeeze.
Selling or buying a "short squeeze" here in MDMN is a little ridiculous when one considers the inherent value contained in the ADL properties, so why try to defend what a short squeeze is or isn't, or whether one has ever occurred? NSS or "legal" short squeeze should only be considered a peripheral issue, and is in't a reason to invest or not invest here, IMO.
Dave Manuel puts it succinctly when he says,
"A "short squeeze" can be caused by any number of different reasons - generally speaking, the most common cause of a "short squeeze" is an unexpected piece of good news for a company. This results in people taking new positions in the company's stock, the price rising and short-sellers deciding that they want to get out of the stock. The short-covering only adds fuel to the fire, sending the shares even higher."
I expect some very good news!
What is being bought and sold is:
WHY LIPANGUE IS A DESIRABLE DEPOSIT TO JOINT VENTURE:
1) Approximately a 140 square Km (according to C. Sepulveda Perez) area of landholdings.
2) 18 holes drilled to date identifying an approximately $[2] billion "measured resource" at today's prices (July 2011). This "Gordon" breccia pipe is open in all directions, measures 80-meters in "True width" and dips to the south and east.
Despite such ridiculous advice found on this board
such as:
If you believe that Thievery is taking place on almost every NYSE, AMEX, NASDAQ AND OTC stock, I'd suggest a mattress or a bank.
"To be clear what we are seeing is Thievery!"
Since FTDs are so common, that must mean they are normal in a well functioning and transparent market.
Nothing to be concerned about.
Kinda like, since unemployment is high and seen most everywhere, it's normal.
Nothing to be concerned about. We must be in pretty good shape. lol
Nothing that "new math" and logic can't fix to make everything fit the model of OK.
... or maybe, "To be clear what we are seeing is Thievery!"
Easy
To be clear what we are seeing is Thievery!
Today's RegShow Daily Failure to Deliver report has 3,305,615 FTDs out of 6,719,204 shares traded.
Is a naked short is present in MDMN? What can be said with certainty is just the fact daily FTDs appear somewhat suspicious in that an inventory does not appear to be kept by the MMs engaged in making a market here. My understanding is that shorting used as a strategy to control price in a market is illegal, whereas with legitimate market making, the occasional occurance of an inadvertent short is permissible. Shares short (legitimately) are required to be covered within three days. Does anyone else have a different understanding?
In the daily Reg Sho FTD Reports, the FTDs regularly approach or exceed 50% of shares traded. The reports show a failure by MMs to locate shares, match trades, or have shares in inventory. Anyone watching this stock for any length of time will surely have seen a pattern here that is more than simple market making.
Any long shareholders with a large position here may be trading a few shares around a Large Core Position ... But I sincerely doubt those boasting here on how this can be traded regularly on every up and down move. Entirely in and out of the stock, as being represented by a few, simply is not likely. The boasts are disingenuous based on the clear uptrend that is occurring and the inability of MMs to have a transparent market. IMO
If You're in ... You're In
Invested in the Mountain…
And that’s what counts!
Easy
I see from today's posts ....
A few seem concerned they won't find a seat at the table!
Lobsters are in the pot
Lids been slammed down
and water is simmering nicely. lol
Won't be long before they are ready to serve and on the table.
I bought my tickets for the buffet a while ago, and can wait a little while longer to truly enjoy!
Easy
Getinin - I Agree
After the JV gets announced and we see what's there in the deal...
this stock will be rewarding long shareholders for years to come.
First, the deal itself will move pps upwards quickly, second ... the mineral wealth contained in the mountain will make this one of the best risk/reward plays based on ROI for many years into the future. The market will have no choice but to reward both daytraders and long investors regardless of any strategies or shenanigans employed by brokerages and MMs, or those who fail to read and digest what is already known about the rich deposits of molybdenum, copper, gold and silver in the Altos de Lipangue group of claims.
Invested in the Mountain…
And that’s what counts!
Easy
ExB - Great Posts & Information Today!
Thank You ...
As most shareholders already know:
Naked Short Selling VS FTDs
For those denying the daily FTDs reveal a possibility of a Naked Short in MDMN there are many lengthy exposes of the problem.
(quoted from another board - links removed)
"It is not these temporary failures to deliver that cause the
concern; rather it is the prolonged failures to deliver caused by
manipulative naked short selling.
The prolonged failures to
deliver resulting from naked short selling can reach such high
levels that the total amount of failures to deliver in a stock may
be greater than its total available public float of the security. "
To be clear, I don't say a naked short is present in MDMN, although just the fact daily FTDs appear somewhat suspicious in that an inventory does not appear to be kept by the MMs engaged in making a market here. My understanding is that shorting used as a strategy to control price in a market is illegal, whereas with legitimate market making, the occasional occurance of an inadvertent short is permissible. Shares short (legitimately) are required to be covered within three days.
However, in the daily Reg Sho FTD reports, the FTDs frequently approach or exceed 50% of shares traded. The reports show a failure by MMs to locate shares, match trades, or have shares in inventory. Anyone watching this stock for any length of time will surely have seen a pattern here that is more than simple market making. Any chatter appearing on the boards "high fiving" this type of activity is reprehensible in that it may be construed as abetting an illegal activity. IMO
Easy
Mariner once said: Lobsters Are In The Pot
"Too late. The lobsters are already in the pot, and the fire has just been turned on and the cover slammed down. They're as good as cooked."
I keep laughing on that one ... and that's all she wrote!!! lol
In case anyone needs reminders:
Gordon Breccia drill holes mapping (50 meter spacing)
http://www.medinah-minerals.com/reports/Howe/gifs/01fig4-1.gif
ACA Howe's report after the first 7 holes were drilled in 1999.
http://www.medinah-minerals.com/reports/Howe/HoweMariasLipangueReport.html
ACA Howe's report after holes 8 - 12 were drilled in late 1999 and early 2000.
http://www.medinah-minerals.com/reports/Howe/howeJune19,2000report.html
ACA Howe's Report after holes 13 - 18 were drilled in late 2000.
http://www.medinah-minerals.com/reports/Howe/howeFeb12,2001report.html
Gordon House's P.Geo resource estimates (see page 38 Table A):
http://www.medinah-minerals.com/reports/docs/decosta%20-%20valuation%20of%20mdmn%2018feb08.doc
Also referred to in the 9/23/2009 company Q&A:
http://www.medinah-minerals.com/Q_A_092309.html
If You're in ... You're In
Invested in the Mountain…
And that’s what counts!
Easy
Nitwit - I'm Sure You Are Right! lol
OK - It's only a slap on the wrist - I'm not even sure FINRA has the authority to collect fines imposed - I wonder how much
UBS Securities netted ...
The system is not as transparent as some would like to believe.
Easy
*******
Regulation SHO Violations and Supervisory Failures
FINRA Fines UBS Securities $12 Million for Regulation SHO Violations and
Supervisory Failures
WASHINGTON--(BUSINESS WIRE)--October 25, 2011--
The Financial Industry Regulatory Authority (FINRA) announced today that it
has fined UBS Securities LLC $12 million for violating Regulation SHO (Reg SHO)
and failing to properly supervise short sales of securities. As a result of
these violations, millions of short sale orders were mismarked and/or placed to
the market without reasonable grounds to believe that the securities could be
borrowed and delivered.
In a short sale, the seller sells a security it does not own. When it is time
to deliver the security, the short seller either purchases or borrows the
security in order to make the delivery. Reg SHO requires a broker-dealer to
have reasonable grounds to believe that the security could be borrowed and
available for delivery before accepting or effecting a short sale order.
Requiring firms to obtain and document this "locate" information before the
short sale occurs reduces the number of potential failures to deliver in equity
securities. In addition, Reg SHO requires a broker-dealer to mark sales of
equity securities as long or short.
FINRA found that UBS' Reg SHO supervisory system regarding locates and the
marking of sale orders was significantly flawed and resulted in a systemic
supervisory failure that contributed to serious Reg SHO failures across its
equities trading business. First, FINRA found that UBS placed millions of short
sale orders to the market without locates, including in securities that were
known to be hard to borrow. These locate violations extended to numerous
trading systems, desks, accounts and strategies, and impacted UBS' technology,
operations, and supervisory systems and procedures. Second, FINRA found that
UBS mismarked millions of sale orders in its trading systems. Many of these
mismarked orders were short sales that were mismarked as "long," resulting in
additional significant violations of Reg SHO's locate requirement. Third, FINRA
found that UBS had significant deficiencies related to its aggregation units
that may have contributed to additional significant order-marking and locate
violations.
Brad Bennett, FINRA Executive Vice President and Chief of Enforcement, said,
"Firms must ensure their trading and supervisory systems are designed to
prevent the release of short sale orders without valid locates, and properly
mark sale orders, in order to prevent potentially abusive naked short selling.
The duration, scope and volume of UBS' locate and order-marking violations
created a potential for harm to the integrity of the market."
As a result of its supervisory failures, many of UBS' violations were not
detected or corrected until after FINRA's investigation caused UBS to conduct a
substantive review of its systems and monitoring procedures for Reg SHO
compliance. FINRA found that UBS' supervisory framework over its equities
trading business was not reasonably designed to achieve compliance with the
requirements of Reg SHO and other securities laws, rules and regulations until
at least 2009.
In concluding this settlement, UBS neither admitted nor denied the charges,
but consented to the entry of FINRA's findings.
FINRA's investigation was conducted by Jeanne R. Elmadany and Conway Lee
under the supervision of Richard R. Best, Enforcement Chief Counsel.
Investors can obtain more information about, and the disciplinary record of,
any FINRA-registered broker or brokerage firm by using FINRA's BrokerCheck.
FINRA makes BrokerCheck available at no charge. In 2010, members of the public
used this service to conduct 17.2 million reviews of broker or firm records.
Investors can access BrokerCheck at www.finra.org/brokercheck or by calling
(800) 289-9999. Investors may find copies of this disciplinary action as well
as other disciplinary documents in FINRA's Disciplinary Actions Online
database.
FINRA, the Financial Industry Regulatory Authority, is the largest
independent regulator for all securities firms doing business in the United
States. FINRA is dedicated to investor protection and market integrity through
effective and efficient regulation and complementary compliance and
technology-based services. FINRA touches virtually every aspect of the
securities business - from registering and educating all industry participants
to examining securities firms, writing rules, enforcing those rules and the
federal securities laws, informing and educating the investing public,
providing trade reporting and other industry utilities, and administering the
largest dispute resolution forum for investors and firms. For more information,
please visit www.finra.org.
CONTACT: Financial Industry Regulatory Authority (FINRA)
Nancy Condon, 202-728-8379
(END) Dow Jones Newswires
10-25-11 0948ET
09:48 102511
AGM - Time/Place - Shareholders of Record
... a Shareholders Meeting will be held on Sunday, February 12, 2012.
Formal Notices to the Shareholder body will be as follows:
The record date for Shareholder voting entitlement shall be January 23, 2012. Formal notices of the Shareholder Meeting agenda, including time and venue, will be mailed or noticed to all Medinah Minerals, Inc. Shareholder Meeting agenda during the week of January 23, 2012.
Only Registered Shareholders or Proxy holders of record will be allowed to attend and entitled to vote at the meeting sessions.
HA - see if I could determine a pattern
You'd need more than a few days to show a pattern, IMO.
Looks like higher volume days you listed (not really much volume) might represent wash trades between the MMs to "balance their books" on trades. The FTDs on these days seem higher than "normal", whatever "normal" is supposed to be. lol
Just a possibility, and not having level II, have any MMs dropped out or been added to the trading? Just wondering if that one Canadian company had broken the 13 day rule, or something. The "misinformation" of a trading halt seemed phoney to me.
Easy
SEC / FINRA et al, don't enforce reg sho laws
Skim through this explanation if you care to see what a few others think has been going on for years.
http://www.counterfeitingstock.com/CS2.0/CounterfeitingStock20Full.pdf
Better not to even think about it!
Good management from companies that have the HARD ASSets overcome obstacles of common market making practices. Sarissa is overcoming the obstacles that many pinksheet companies face in the article sited above.
Easy
Thank You Downsideup
SRSR is not going to be made victim of it, as SRSR is not one of those companies that sits by and allows shorts to succeed.
WHEN we see SRSR spin out Shining Tree and Niostar... BOTH those new companies will rapidly establish entirely new "chart dynamics" that are not going to be constrained by SRSR's chart... rather than by the "initial conditions" established for them in new trading vehicles.
AlanC - Spot On!
Your article concludes with:
“That means-margin account holders could lose their right to vote and it doesn't seem right to some issuers that investors should get penalized for buying shares on margin.”
must get trading advice from a fortune cookie.
"you will make very poor investment decision today"
Very funny, Webpence. lol Helps lessen the pain of the patient longs.
Not so funny, though, if someone was forced to sell due to a margin call in yesterday's choppy market. Yesterday's FINRA daily FTD log only showed about 11% Failure to Delivers out of 1,408,194 shares traded, so they were real shares in someone's account. The day before with 343,479 the FINRA report showed 2/3rds were FTDs, so some MM was allowed to cover the prior day's short with someone's margin call misfortune, IMO. I only use CASH accounts, which is especially important for anyone with penny stocks, as supposedly, MMs can legally "borrow" shares, creating "airshares" when needed when pennystocks are part of an inventory in margin accounts. Margin accounts allow MMs to "fudge" their trading practices on a day to day basis, IMO
Those that have been here the past 3-4 years know we have a CEO and management team that is doing everything possible to turn valuable in the ground mineral assets into hard cash for all shareholders invested in the company, IMO. Patience will be rewarded.
Easy
downsideup-there will be little communicating
I think you are right in saying no one is going into "silent mode".
My educated guess is there will be NDAs in place until all contracts are inked, signed and money lands in accounts. Until then, only general information should be available without any specifics being given, IMO. All shareholders will be fine and profitable with the spinout and IPO that are in the works. Sending out proxies was not an inexpensive endeavor. With all propositions passed, there would have been no proxy outlay of company $$$ without a very high probability that the end result will be profitable for all involved. Kudos to Scott, and all involved for lining things up so that revenues are available to get things moving toward successful mining ventures. Things are moving forward in a very positive fashion for those with patience, IMO.
Easy
K_S Glad to Hear All Resolutions Passed-Thanks! eom
What brought this company down to current levels?
It was the cease to trade orders issued by Canadian Securities Administration:
http://cto-iov.csa-acvm.ca/SearchArticles.asp?Instance=101&Form=1&Names1=Sarissa+Resources%2c+Inc.%0d%0a&XSL=SearchArticlesCompany
That is about to change after today's vote for a spinout and IPO, both of which will bring in cash to develop our properties and become NI 43-101 compliant. We will be trading in markets without restrictions, fully compliant, IMO. This was the best way Scott could find to circumvent the restrictions imposed upon the SRSR without a large outlay of cash, diluting and selling shares much too cheap to finance operations, IMO.
Easy
qtipjoe - Is this the one ??
This stock has had a lot going for it ever since Scott Keevil came on board.
Although SP does not currently show what's behind the curtain, Superior Management Skills, Professional Advice, Contacts, and Hard Assets in the ground will take it to one level after another in coming years. It's a long-term hold for long-term gains IMO.
Easy
HA - Which Broker Do You Use?
I use Fidelity and TDA, but it was the same brokerage that had answered my question concerning the proxy vote I posted in #107809.
I am happy to assist you. In order to discuss how to receive a copy of a document distributed by a security traded OTC such as SRSR I would suggest contacting the investor relations for the company. Contact information is not provided for SRSR on the TD Ameritrade Web site however an Internet search may be helpful.
Also, when an account holds listed securities, you should receive corporate communications such as proxies at the address on file or electronically.
I hope this information is helpful. If you have any further concerns, please feel free to respond to this e-mail and we will gladly assist you.
Thank you for choosing TD Ameritrade!
qtipjoe-"I know it's being shorted"
Where's the post that has so many shareholders upset?
The stock appears to have been shorted for a long time, as are many if not most pink sheet stocks, if you look at daily FTD and bimonthly FINRA short reports, IMO.
Where's the controversy in that?
Speak your mind freely here, JMO
Easy
d0lphint0m-"I had an interesting situation arise Friday"
Really? I had an interesting call (at my work number, no less) from my "Investment Advisor" on Tuesday of last week. He said he had just been assigned to my accounts! Investment Advisor assigned to my accounts??? Talked around a bit about services and then asked specifically about having so many Sarissa Resources shares in my accounts and if there was something he should know about Sarissa. I just said it was a purely speculative investment. I added that I had a great deal of confidence in the CEO because he had experience and contacts as part of a 3rd generation mining family. Hope I didn't say too much, but curious that he asked specifically about Sarissa, as I have several other large speculative equities in the accounts as well. Not at all like your experience with Schwab, but interesting and curious...
Easy
mtcotc-Adding This Addendum to my Previous Reply
it's the ST (dividend-in kind) shares that will force the shorts to cover. Those with borrowed shares will not receive the dividend and be forced to cover.
Sarissa expects that it will accomplish this spin-out by declaring a dividend-in-kind of all the shares of Shining Tree to the shareholders of Sarissa. The spin-out is being implemented as a first step in the Company's continued efforts to enhance shareholder value, which Sarissa is confident can be best accomplished by creating a separate Ontario focused exploration company. Management of Sarissa hopes that Shining Tree would become a Canadian reporting issuer at the time of, or as soon as possible following, the spin-out. The Shining Tree Property consists of 7 contiguous claim groups, approximately 1200 acres, in the Shining Tree gold area of Northern Ontario. In connection with the spin-out a NI 43-101 independent report is currently being prepared on the Shining Tree Property.
Shining Tree Will be a Bright Shining Star
Moneynews
Brodsky: Gold Standard Will Send Precious Metal to $10,000
Friday, October 14, 2011 09:06 AM
By: Forrest Jones
Gold prices would hit $10,000 an ounce or even more, five times than where they are now, should current calls for a return to the gold standard become reality, says Paul Brodsky, co-managing member of QB Asset Management.
Loose monetary policies are fueling worries that too many dollars in circulation may fuel inflationary pressures down the road, and many want a return to the gold standard, which ties the value of dollar to gold.
Proponents, including Steve Forbes and Ron Paul, argue a gold standard would prevent what they see as irresponsible money printing and force the U.S. to live within its means by limiting the amount of money monetary authorities can print.
__________________________________________________________
Advertisement Removed
__________________________________________________________
"Policy makers are holding a burning match," Brodsky says, according to CNBC.
(Getty Images photo - removed) "Baseless currencies follow the tyranny of short-term politics and so shall this."
The country’s monetary base (currency in circulation plus bank reserves held at the Fed) has tripled to $2.68 trillion following the completion of the Federal Reserve's recent quantitative easing programs.
Under quantitative easing, the Federal Reserve buys assets from banks with the aim of pumping those banks full of money so they'll invest and fuel more hiring, with side effects including inflationary pressures.
Even if the U.S. doesn't scrap its current monetary policy and adopt a gold standard, the yellow metal next year will remain in demand, as it historically does amid market volatility typical of today.
"With macro headlines threatening demand across the complex, we have become more selective about commodity exposure," Morgan Stanley analyst Hussein Allidina writes, according to Bloomberg.
"Gold and silver are our top commodity picks heading into 2012."
© Moneynews. All rights reserved.
dmbao-"Shares Have To Be In The Account
prior to them trading"
At this point, any shares in a margin account are more like electronic IOUs.
That's where the problem will start, and "borrowed" shorts will need to be reconciled. The bigger problem (not for us lol) is if some hedge funds wrongly thought that this was just "another pinkie" that they would drive out of business by starving it's revenue source (shares) to such a low level they would never have to account for any "hidden" shares. The upcoming days of "reconciliation" for the "true" share count should be quite interesting as it unwinds month after month. I trust in what Scott and his advisors are doing. GLTA
Easy
downsideup-"If you're lucky, in doing that,
and there is a large short position out there, the benefit for shareholders will be in large multiples... "
I don't disagree with what you say. I'm all for large multiples, and creating shareholder value, but I don't think a theoretical NSS that may or may not exist is going to be adding much value to the company immediately. We need to prove up what we have in the ground. What the company needs to succeed long-term is to have some very large valuations confirmed in a National Instrument 43-101 compliant mineral resource. Funding is the name of making that happen at this stage. When the approved 43-101 happens, multiple forces will be in play , including burning any shorts for all they're worth.
Easy
mtcotc-"Those with borrowed shares"
You say:
it's the ST (dividend-in kind) shares that will force the shorts to cover. Those with borrowed shares will not receive the dividend and be forced to cover.
After you bought the shares you got a monthly brokerage statement that “implied” that your clearing firm was “holding long” your shares. You probably assumed they were in some type of vault at the DTC depository. Two corrupt clearing firms can easily “pair up” outside of the NSCC (ex-clearing) and offer each other and each other’s clients the use of their “sponsor table” rooms. This amounts to allowing a bunch of crooks to sell a given clearing firm’s clients fake shares and never deliver them if and only if the other clearing firm extends the same courtesy. The NSCC management mandated to regulate the “business conduct” of its “participating clearing firms” that co-own the NSCC holds that what their bosses do outside of the NSCC proper is none of their business.
Approved National Instrument 43-101 Compliant Mineral Resource Needed
Sarissa will make it, and make it in a very rewarding way to shareholders, when Scott, by proving up the goods on our claims files an approved National Instrument 43-101 compliant mineral resource, IMO.
It is quite disheartening regarding the possibility of any legal action or enforcement of NSS by any regulatory action according to Brecciaboy's post shown below, also IMO:
From a different board easily found by googling Brecciaboy on NSS:
by Brecciaboy :
Posted: Sun Oct 09, 2011 10:00 am
Let’s start with the NSCC’s SBP or stock borrow program. Addendum C to the rules and regs of the NSCC allowed the establishing of an SBP. The intention was honorable. How was it enacted? The “participants” of the NSCC are allowed to donate into the SBP on a daily basis any unencumbered shares they have IN MARGIN ACCOUNTS ONLY.
Along comes a delivery failure associated with a crook selling nonexistent shares while trying to MANIPULATE share prices downwards in order to steal the money of the investor. The NSCC dips its hand into the SBP and pulls out the # of shares that failed to be delivered. These shares are appropriately debited from the NSCC “shares” a/c of the donor clearing firm and electronically credited to the NSCC “shares” a/c of the buyer of the undelivered shares. The actual purchaser of the shares that were loaned out is impossible to identify so he retains the right to sell those loaned out shares that he is no longer the “legal owner” of.
As the new “legal owner” of the borrowed shares the buying clearing firm has all of the right in the world to re-donate them into the very same lending pool AS IF THEY NEVER LEFT IN THE FIRST PLACE. It’s basically a Ponzi scheme that facilitates counterfeiting. The shares in the SBP lending pool are kept in an anonymously pooled format so that a specific investor can’t see that his particular parcel of shares is now being “co-owned” by perhaps a dozen different investors. The same impossible to identify parcel of shares can INVISIBLY “cure” hundreds of delivery failures.
When pinned down on this reality the NSCC division of the DTCC said three things. First, the SEC approved of Addendum C so go fork yourself. Second, if the SBP was basically a Ponzi/counterfeiting facilitator as you assert then the SEC would make us ban it. Third, the SEC hasn’t said jack so we’ll continue on with it.
In Nanopierce v. DTCC the SEC filed an amicus curiae brief and stated: Judge, we find no problem with the SBP and we did indeed approve of it. Please throw this case out and he did. Recall audit No. 450 of the Office of the Inspector General (OIG) of the SEC. It revealed that of the over 5,000 formal complaints against NSS abuses by Wall Street ZERO resulted in “enforcement actions”. Of the 900 cases sent by FINRA to the SEC recommending “enforcement actions” ZERO had to do with abusive NSS crimes. The Inspector General, David Kotz, said that something spooky is going on with how FINRA and the SEC treat abusive NSS cases as they certainly don’t treat other securities violations the same way.
While drafting Reg SHO we learned that “pump and dump” cases are prosecuted 100-times more frequently than NSS cases by the SROs and regulators. “Pump and dumps” involve Main Street people misbehaving while NSS is Wall Streeters misbehaving. It’s called “regulatory capture”. Due to conflicts of interest beyond description the regulators become “captured” by the financial interests of those they’re supposed to be regulating. Why? It’s because of the “revolving door” from the SEC to jobs on Wall Street paying 50-times more money which is available only to those regulators that REFUSED TO MESS WITH THE CORRUPT STATUS QUO.
From another Board regarding NSS
you can Google if you want to find it:
by BRECCIABOY
Here's what I'm getting on the status of things these days with regard to naked short selling:
(1) Problem Number 1 is the fact that deliveries are not being made in accordance with the alleged "intent" of the Stock Borrow Program instituted by the NSCC (a subsidiary of DTC).
(2) New Rule 204T under Reulation SHO is not effective enough to deter abusive naked short sellers from doing their deed - the only penalty is that they are precluded from engaging in any further naked short selling in THAT security (no penalties, no civil cause of action for an aggrieved party, etc.).
(3) The anti-fraud provision of Rule 10b-21 is nice in theory, but because the DTCC (and its subsidiaries, DTC and NSCC) are owned by the "big boys" on Wall Street and regulated by the SEC, I can see lots of problems with proving up a case.
In addition, my review of the case law in this area indicates that the SEC has a total LOCK on enforcement. For example, in Whistler Investments v. DTCC, 539 F.3d 1159 (2008), the Ninth Circuit took the same approach that other federal courts have been taking in this area - and that is that federal securities law PREEMPTS state law claims (involving fraud, etc.), and so any suit brought under state law to enforce such rights will be dismissed. The SEC is the regulator in this area, and you can't get around that by asserting state law claims (grounded in fraud, etc.) in federal (or any other) court.
So, where does that leave us? It leaves us with the fox (the SEC) guarding the henhouse. It leaves us with a federal government that COULD fix the situation but has not and refuses to do so (c.f. Christopher Dodd's "admonition" to the SEC representative at the committee hearing that the SEC should have caught this and that he "expects" the SEC to look into this, and Timothy Geithner's apparent participation in setting up the "bear raid" on Bear Stearn starting on March 11, 2008). Sure, with the advent of New Rule 204T under Regulation SHO, I have read that delivery failures have been reduced - but not enough. Still, you have to ask yourself WHY the politicians refuse to put a fire under the rear-ends of the SEC to get them to enforce its own rules. I think we all know the answer to that - politicians receive political contributions from Wall Street.
Let me know what you think of my conclusions.
Posted: Sat Oct 08, 2011 3:51 pm
unbeREEvable "cover BEFORE the distribution of new shares"?
No, not my take at all. If the new IPO has no value, what's it going to cost an MM to put shares into an existing shareholder's brokerage account? The new IPO, and shares distributed to existing SRSR shareholders has to be expensive enough for them to force a cover of not only of any existing SRSR naked short share positions, if one truly exists, but also cost the MMs to place shares of a newly created IPO into each shareholders account. IMO
Easy
OK-This is the Kind of Article I Like
to see ... So what that it's a month old already:
ERNST & YOUNG SURVEY: Mining deals in first half of 2011 double year earlier
By Canadian Mining Journal · September 1, 2011 · 1:47 am ·
According to information compiled by Ernst & Young, the value of mining and metals deals involving Canadian companies in the first half of 2011 was double what it was in 1H 2010. Canadians made more acquisitions (196) than Australians (83). Canada was also the leading target destination (129), and Australia was again second (72).
“So far, 2011 has brought fewer but larger deals to the global mining sector,” says Tom Whelan, leader of Ernst & Young’s national mining and metals practice. “Despite the drop from 573 deals in the first half of 2010 to 511 deals in the first part of this year, the total deal value of mining transactions from January to June more than doubled to US$96.3 billion from US$47.9 billion.”
Average mining company debt is at an all-time low while cash flow and profitability are at an all-time high. These factors, coupled with increased demand for natural resources in emerging markets, are contributing to an uptick in deal activity.
The number of mining and metals sector IPOs globally was up 30% to 73 in the first half of 2011 from 56 in the first half of 2010. Total IPO proceeds were up 107% to US$13 billion from US$6.3 billion, dominated by the US$10 billion Glencore listing. Strong cash flows and increased demand from shareholders for returns also drove more than US$17 billion in share buybacks.
Whelan adds that while deal activity is stronger than last year, transactions levels still fell short of industry expectations. Although the pace of deal making is set to increase in coming months, uncertainty still lingers around mergers and acquisitions.
dmbao-"those numbers very hard to believe"
They are even harder to believe if you average them out over a month or more.
The daily FTP site is here:
http://regsho.finra.org/FORFshvol20111014.txt
If you want the Daily FTD average for a month you need to compile it in a spreadsheet.
If all you are looking for is the monthly "short" report also put out by FINRA (it is actually bi-monthly) it can be found here:
http://www.otcbb.com/asp/otce_short_interest.asp
The monthly "short" reports do not even come close to what figures are represented by averaging the daily FTD numbers and percentages. Reconciling the two without transparency is impossible.
When and if Scott issues shares of a newly created company to current shareholders, all shareholders will receive these new distributions in their accounts from their brokerages. If the new shares have significant value, any sizeable existing short in SRSR should be revealed as it becomes too expensive for MMs to maintain short positions in SRSR, and have to buy into a market of shares in a newly created company, IMO.
From an earlier post, but germain to what you seem to be asking:
Something going on when MMs don't have shares in their inventory to cover sales, and yet don't even bother to locate shares. Not normal market making, or maybe it is. The percentage of FTDs seem unusually high, and yet, these all seem to melt away in monthly OTC short reports, which is why I suspect wash trades may be in use for sleight of hand manipulation to cover short positions amongst MMs on many penny stocks. This avoids the 13 day rule where an MM who fails to deliver within 13 days is barred from trading in that security. If MMs just swap shares every so often in wash trades they can short a stock indefinitely and it will not show up on the Monthly Short Sale Transaction Files, also provided by FINRA to the OTC. This seems prevalent even when the percentage of Daily Shorts (FTDs) is unusually high in a particular penny stock, such as SRSR. I believe MMs have been doing this for years and getting away with it, unless a company can "deliver the goods", which then may initiate a short squeeze, IMO. More properly a naked short squeeze (NSS) would result if they are forced to cover after shorting a stock far beyond the authorized number of outstanding shares.
ADF Regulation SHO
Pursuant to a Securities and Exchange Commission request, FINRA has agreed to make reported short sale trade data publicly available. FINRA will make two types of files available: (1) Daily Short Sale Volume Files and (2) Monthly Short Sale Transaction Files.
The Daily Short Sale Volume Files provide aggregated volume by security on all short sale trades executed and reported to a FINRA reporting facility during normal market hours. The Monthly Short Sale Transaction Files provide detailed trade activity of all short sale trades reported to a consolidated tape.
Properties Controlled by Medinah Minerals of Any Value?
and yet I hear such phrases as:
wildly incompetent
caught 'em red handed!
Way to catch these stinky rascals
horribly sloppy error, or a bald faced lie
willfully incompetent or out to deceive!
REWARD THE FAITHFUL SHAREHOLDERS JMHO
Longs here sure would like to see something along those lines!
Easy