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Probably, but so is a prediction of a PR date. People dont post here because they heard something. They post here because they WANT something. If you genuinely know something is coming, you buy or sell based on that.
If someone knows there is no news coming, they post saying it is coming, drive the price up as they sell, then buy back from the suckers next week.
We need less speculation right now and more dd! Cut through that silence from the company and get to the other side so we all can profit. I post here because I want dd and discussion.
Lol! I say if the RUMOR is big news, get out while you can! .003 tomorrow on no news at all, or more delays.
Call me what you want but i'm a 'show me' man on this stock.
PR or 10k filing and how do you know if you dont mind me asking?
LOUD NOISES!
For those who dont get the above reference, watch Anchorman.
I think goldy is referring to the financial filings, ce removal, production info, and uplist they have been teasing us with for a year now.
If even half of it comes true we will be in multi pennies, if we get more delays, this will be looking for bottom IMO.
Supposedly we have production supporting the co, lots of equipment on site other than just dredges, financial filings just around the corner, followed by an uplist, and operations update.
Risky play right now imo, but could be high reward. Recommend anyone inerested visit the company website and do your own dd.
1.5 mil at .007 before it drops to .0065, then .004 if it keeps going.
1.5 mil at .007 before it drops to .0065, then .004 if it keeps going.
I haven't seen anything from the co about titanium except when they released the lab results on the contents of the ree concentrates. Several of us on the board speculated they might be trying to process that as it was one if the highest value components.
The problem is that processing ore into titanium sponge requires nasty chemicals and an expensive process. They may be considering selling the raw ore to a processor after they extract the gold.
God, I hope not. Talk about a let down.
Of all the things to mine in africa, that would probably have the lowest value/ton. Diamonds, copper, platinum, chromium, would all be better. I suppose iron would be better than coal though.
God, I hope not. Talk about a let down.
Of all the things to mine in africa, that would probably have the lowest value/ton. Diamonds, copper, platinum, chromium, would all be better. I suppose iron would be better than coal though.
I'm not supporting or discrediting SP's comments. Just stating that it is his job to maintain your interest in SNEY.
Keep in mind, SP is a sales man. His job is to sell you the company and get you to hold it. So, treat him like you might a used car salesman.
Trust, but verify. This entire run has been on anticipation. If nothing happens or we see another delay, this will be back in the .003s. If the fins come out and have great info on them, this will be trading in the multi pennies again.
These paint jobs are starting to get ridiculous. Everyone needs to put their money where their mouth is. If you are down on the company, sell. If you think it's going to run, put a couple mil on the bid at .0085 before it does.
Everybody take a chill pill. This will run long and hard when it does, but I don't want to see it run on anticipation alone and wind up with more people who feel like bag holders here.
Know what you own, do your own dd.
Consolidation is good. Gaps get filled and I think that is all thats going on here. We just went up 80% in a week.
Let me be clear, I still hold shares here. I think this WILL run faster and harder than most. Valuation could easily hit $1 pps. The 10k COULD be out tomorrow! BUT, given mgt history, it won't. So, I will hold some cash until I see a filing and contribute to the run after it comes out.
If the filings come out tomorrow or next week, consolidation now will only make it run faster and higher.
SNEY is a REAL company with REAL gold in the ground. Gold is going up fast and will keep going up through 2012 making this a great investment. Labor is cheap in africa and we are in rge game early. This could be a real winner if they get their ducks in a row. By all accounts, we have the right people, the right equipment, and the right location at the right time. All we need is the paper to prove it.
Don't get me wrong, i'm still holding some of my shares, but I don't want to get caught with my pants down when they pr another delay.
I don't think someone is trying to keep this down, I think people who bought at .004 and.005 are taking profits.
Also starting to wonder when we are actually going to see these filings.
I'm loving the price action... but this is looking top heavy for no news.
Everything rides on the 10k coming through. If it hits today, we could see .012
If they PR another delay... we will be down to the .004s again.
Like I said, loving the move north, but I think we need a reality check. I'll believe the 10k when I see it.
Someone poke it with a stick.... See if it moves.
There was supposedly institutional buying on the last run and I would not be surprised to see wall street hedge fund interest here when we uplist.
Very true, and I expect the actual valuation once we get all the info to be higher than my estimate. The biggest variable I see is the g/ton of gold we can recover. If we get 4 g/ton, that pits our value around .50pps. Heck, if we get 10g/ton we could see $2 per share.
Time for some math...
I remember a post last year where someone calculated out the potential for gold recovery and I found it very useful, so here is my calculation of SNEY possible valuation based on previous PRs and updated figures. I have based as many of these numbers as possible on past PRs, and what I didn't know for sure I tried to use a conservative guess. The actual numbers will be different due to variations in overburden, throughput, rainy seasons, finding better g/ton ore, no dilution, etc.
Production:
1 dredge = 40-50 tons/hr (from PR)
we have 3 dredges operating currently and plans to get 12 dredges on site. We may even have more than 3 operating now.
12 dredges x 45 tons = 540 tons/hr
540 x 8 hours = 4320 tons / day
I'm guesstimating 2g/ton gold recoverable @ 80% for a total of 1.6g/ton based on previous PRs and board posts.
1.6g/ton x 4320ton/day = 6912 g/day
6912grams/31.103grams/oz = 222.23 oz/day
assuming they only operate 8 hours a day, 5 days a week (no double shifts), I get the following:
5days/week x 52weeks/year = 260 days/year
260days/year x 222.23oz/day = 57,779 oz/yr
Now, assuming we sell at current market price($1,650/oz), that comes out to $95,336,398/yr
Market cap is typically around 2x annual revenue, so approx $400M market cap can be expected from dredging operations alone. At the current fully diluted float of around 2B shares, that equates to $0.10 pps.
Now we have a value for the company based on some conservative estimates, for dredging gold recovery ONLY.
If you consider that the titanium and other REEs in the black sands are worth OVER DOUBLE the gold value per ton of concentrate, this would boost the pps expectation to $0.20.
If you then add the unknown value of diamonds or some other "discreet element" they have hinted at in previous PRs, this may easily be WORTH $0.30 a share. On top of which, SNEY has been buying gold from the local artisan miners at an unknown quantity and price.
Management has already stated they are acquisition oriented and I would expect they are still shopping for more claims in the area. Add to this already high valuation the possibility of additional claims, more equipment, positive hard-rock drill results in Ghana and you start to get a picture of exactly how huge this company could become.
I say could because we still have some major hurdles to cross. Before we will see anywhere near $0.30 we need to get current in filings, and uplist off of pink. This should be done by eoy at the latest. We also need to purchase and deploy additional dredges (which may have been done already).
We will eventually need drill core results from Ghana as it appears we could literally be sitting on the mother lode (pun definitely intended)! All of this hinges on management, timing, capital for equipment, revenue generation, and a bit of luck. From what I can tell, we're in the money and I agree with mylife that I'm either in this stock until it turns into a 100 bagger, or goes to .0001.
I expect the 10k filing to have more information on some or all of the above.
This is all IMHO, but I felt it would be beneficial to some of the new faces I see to put things in perspective.
If anyone has better information than the numbers I have used, please post your own valuation.
Level 2 was looking crowded today in the 6s, low 7s started thinning out by eod. Would not be surprised to see another close in mid 7s out low 8s tomorrow even without news.
.0071 almost gone. Get em while you can!
Anyone have a timeframe for the 10k this week?
NITE keeps walking the bid up. Think he wants all those shares he sold in the .005 range back before news hits.
10k is so close I can taste it.
Lol! I know. Was just joking.
I hold risk as one of the few on this board I trust to be straight up. He keeps this board rolling.
Also, I like your monkey! He has excellent taste in stocks. I hope he changes his 'watch' recommendation to a BUY! :D
Lol! I know. Was just joking.
I hold risk as one of the few on this board I trust to be straight up. He keeps this board rolling.
Also, I like your monkey! He has excellent taste in stocks. I hope he changes his 'watch' recommendation to a BUY! :D
That dirty dog!
Actually, imo a double bottom here would only make the chart stronger before the run.
I basically did the same as silver. Saw the shares, pointed it out, and decided to let someone else make the first move. Sadly, they bought all of them. I'm happy though because the rest of my holding had a great run today.
All technicals pointing to a trend reversal now 100% imo.
My funds finally cleared today and I passed on the .0058s this morning. Something tells me that will be the .0068s soon.
Lol! Nite is cr@pping his pants right now. Bid up to 68. Don't let him buy back for under a dollar.
Nite moving their bid up again. Looking desperate to get those shares back they been dumping.
Is my L2 broken? I see NITE bid at .0063, ETMM at $100.00
800k on the ask from our favorite mm at .0058, sounds like cheapies to me!
Frustrating to be sitting on so much potential and all that is holding us back is a couple pieces of paper.
Just for more info, Scottrade will let you trade penny stocks on unsettled funds with a cash account(e.g. you sell stock A and use the money to buy stock B before the money actually arrives in your account). Trading this way is OK though, because the money from your sale will arrive before it has to leave again for the stock you purchased.
Unfortunately, they changed their rates recently and it now costs the usual $7 plus 0.5% of the principal on stocks under $1. So for a $1000 trade this would be $7+$5 = $12. Doesn't seem like much but if you're talking $24 round trip commission on $1000 instead of $14, it adds up fast.
Personally, I put a 2-3 week timeframe guess from the last pr, which equates to oct 18-25th. Still sticking by that estimate.
Expect the worst and hope for the best, you'll never be disappointed. On the other hand, you'll always walk around expecting a punch in the face.