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Don't forget it is current management who not so long ago had decided at one point that only two extraction Reports per year were not only satisfactory but in the best interests of investors.
FR's are a near waste of time and simply promote in House emotion.
They do nothing to market and Promote the company in the Junior Mining Market.
eye
In 2008 we released frequent and improving extraction results with PR's.
Oh yeah, the stock was trading over .03 back then and rising.
FR's trip zeros and dilution, PR's pennies.
Kind of tells the tale doesn't it.
eye
What I have just posted isn't repeated, it is based on newly released info.
Financial Statements the company has released themselves and don't forget the actual filings such as the one Crusader and I have mentioned before.
Not only newbies but everyone buying this stock should consider.
At least I am not trying to suck in newbies just to drive the stock price up a few points as are some.
I just believed the company and found out how lame management really is.
They haven't changed and there will be lots more of the same yet to come.
Live in denial if you choose.
If anyone is lame it is management and they have proved it time an time again.
eye
Yes it is but it is on the brink of further drops and Dilution with the least Operating Capital it has ever published.
Operating costs will multiply with additional Equipment and salaries.
Historically it is a good time this time of year but make no mistake this stock can still drop in a heartbeat.
Keep in mind we also have the the highest historical share count with ongoing dilution.
We have the lowest Operating Capital ever published that I have seen.
We are likely to see the highest Expenses as well.
Historically the company issued monthly Extraction Reports in its best years and share prices.
How many newbies even know about the stock?
Longs are laying claims to the trades daily.
If I was going to buy I would wait because further extraction delays will send this stock lower.
eye
I am stuck and will likely never recover my investment.
Many longs have averaged down and thus pump the company enticing others to join in.
The company has serious concerns and I don't want others to be drawn into a risky investment.
There are considerable Pros and Cons to this stock that newbies should well consider.
It is pretty much a coin toss whether an investment at this time in this stock will be profitable.
Many averaged down Longs appear to simply be protecting or trying to build up their positions by pumping the stock.
I understand that position.
Without frequent and prompt extraction results the stock has no drivers now.
Substantial Operating Expenses with little Income is a significant problem and ongoing Dilution multiplies those woes.
It does continue to Dilute shares and based on posted Financial's has no choice to cover Operating Expenses.
This stock may still drop significantly in a short time if extraction Reports are poor or delayed.
I expect further drops until extractions are published and even then expect only short lived upswings unless the the Extraction Reports are frequent and most of all, improving.
eye
Newbies beware. This stock is dangerous.
We are either on the verge of a long and difficult recovery or on the edge of a significant drop into trip zeros.
The majority of shares purchased are by current longs, reducing their average.
They lay claim to those purchases daily.
This company does a poor job of Promoting itself and with predominant In House Reports the Junior Investing Market knows little about us and shows little interest.
This is historically however the best time of the season to buy or average down.
A drop in price awards a good buying opportunity but there is far more risks here than the happy crew would have all believe.
eye
From prior Reports Ending June 30 2010 there were
2 Bil shares Authorized and 1,647,918,102 Shares Outstanding
As of Sept 2010 there were 1,824,619,315 shares Outstanding.
That means 176,701,213 shares were issued after June 30 to Sept 30 / 2010.
We also know shares were placed in Dec 2010 based on filings already discussed and proven.
The Income Statement for the Period shows 75,000.00 raised in Equity sales and the Statements show 176,701,213 shares issued after June 30. That would convert to a price of .000424445 per each new share.
Keep in mind, some or even many of the shares placed after June 30 could have been used for services and possibly even to acquire equipment.
The end result is that 176 Mil shares plus were Diluted and we only raised 75,000 from Equity Sales.
That is from the company's own Financial's so there is no point denying it.
That's even worse than prior discussions concerning the raising of 1 Mil through Dilution.
It is very likely that with little Operating Capital, minimal Revenues as Production ramps up that an increase in A/S is a very strong possibility.
I can see why they stalled the release of the Income Statement.
eye
Amazing. Links are open and the Income Statement, ( Profit Loss ) from July to Sept is now available.
The Balance Sheet is available there too.
Here's a link if anyone is interested.
http://www.otcmarkets.com/stock/SGCP/financials
Highlights are 95,720 in Revenues and 204,320 in Expenses.
Only 20,720 of Revenues came from JV Mineral Sales.
75,000 in Revenues came from Equity Sales or " Dilution " for those in denial
Management Salaries for the 3 month period are 36,000.00.
Balance Sheet shows 46.04 in chq at the end of the Reporting Period.
This company is struggling to survive and additional dilution has already occurred and will continue.
The Filings were already posted and discussed.
The company will need to post frequent, recurring and improving Extraction Reports to avoid a stock price collapse IMHO.
Sporadic Reports will not be enough to stem a significant drop in share price IMHO.
eye
Thanks for sharing, you are living up to expectations.
eye
That is a very good point. Thanks for raising it.
It does generate a very good question.
eye
If you are talking about the article that was published you are making a good point.
But with that reasoning one would have to expect a statement shortly concerning that move.
Getting the dredges producing real gold is probably more important looking at the big picture.
eye
I can't disagree that they could finally be in position to start the long climb back to respectability.
The things I mentioned are all taking from the bottom line.
That means they have to produce far more to even break even.
If they don't issue prompt and frequent extraction numbers than this stock has no drivers.
They would likely have additional dilution and silent lapses on the other hand that have the opposite effect.
They need to PR Extraction results and build on them month to month like a real Junior Miner would.
That's what they did when they actually did trade in pennies.
If they do again I don't think pennies are out of reach.
I don't however think they will do any of that and expect only infrequent extraction reports probably in the form of FR's.
I think they may actually put out a PR some day and maybe even soon but experience here has shown me they won't build on it.
That being the case I think it will have minimal impact on share price.
If anyone wants to play the stock they would be wise to flip it on news and wait for it to drop again.
Longs that have averaged down and want more are likely the only ones buying the stock.
There could be the odd newbie but all their advertising so to speak is mostly in house.
I hope it goes up for you Banjo but in all honesty with nearly 2 Bil shares O/S and never profitable, it is probably priced a little higher than it is worth.
It could go up if the dredges come through but it has far more obstacles than it has Drivers at this time IMHO.
I don't think we will see a penny for a long time yet if ever again.
As far as the move goes it is a Material Event that should have been properly disclosed if indeed it happened.
It is way to early to tell if it is positive or negative move or if its even real.
One thing I will restate is that the company has racked up substantial losses available for carry forward even the three plus years I have followed it.
They had some serious write offs anyway.
That doesn't mean the move is good or bad but it does mean that it wasn't necessary to avoid paying taxes for a year or two anyway.
eye
Well did produce significant Recurring gold extractions at Pampana on a monthly basis with nothing but local labor and hand tools.
That was the cheapest Operating Costs the company likely ever had.
It was most definate the cheapest Production costs the company ever had.
At times a Banana Company may have been an improvement.
eye
Its amazing how many assume moving to a different state is just part of the Master Plan.
They don't consider that if it is true it is a Material Event and should be reported through a proper PR even though the company has refused to disclose Material Events in the past.
Finally they assume it is to avoid taxation.
This company has not been profitable since its inception. From an Accounting point of view it has to have gigantic loss carry forwards and wouldn't have to pay taxes where ever they base.
Moving to a different State could be simply to add to the share structure for all we know.
Many are salivating about expected extractions.
No one cares to consider that the company has significant Operating Expenses and have JV Partners.
They have JV Partners, Paramount Chiefs and Government Agencies on top of all that getting a serious piece of the proverbial pie.
That's not even considering General Operating and Administrative costs..
The last Balance Sheet confirmed less than 100.00 in the bank and nothing dictating any other Revenues were soon forthcoming.
The truth is the company is struggling to survive and proof of dilution has already been discussed and linked.
Just one PR isn't going to help. They are going to have to put out multiple PR's each showing significant positive feedback and improvements or even PR's will not help.
Growing monthly extractions and Production Output is essential.
Without it this stock may easily drop into the trip zeros again.
That could create a good opportunity to average down or it could be the beginning of the end.
This stock is a crap shoot and while it should point in the positive direction because of Operations, the longer it takes to Update extractions with that equipment the less positive that equipment becomes.
In short if they have equipment Oprating, they need to declare it clearly, disclose what it is producing monthly and show increasing extraction and Production rates as well.
If they don't, lone PR's or even worse periodic FR's will have little effect on share price as they have of late.
eye
Sorry to see you go Crusader but can well understand your viewpoint.
This company has and has had lots of problems.
The management style and decisions have cost a lot of investors a lot of money.
I totally agree about the Financial's as I find them grossly insufficient and clearly hiding pertinent info.
I have still not been able to find or open an Income Statement for the last Reporting period.
That should be a serious warning to all. If you can produce a Balance Sheet you should be able to produce an Income Statement.
If you can produce either or both you should be able to access that info easily from PinkSheets at least.
Anyone that can publish a Balance Sheet can furnish an Income Sheet at the touch of a button.
I understand the process very well and have done hundreds of them myself.
The company has fallen short on too many of its own targets and claims to put much faith in anything they have to say.
Some at this point need to pump simply to protect or enhance their positions, many are simply holding on for dear life and the odd newbie is trying to establish a position.
IMHO the company has withheld many Material Events and that's putting it mildly.
Without a constant and positive flow of positive PR's the Junior Mining Market will quickly forget about us altogether if they even know about us presently.
Share count is likely to increase and an increase in O/S shares is IMHO likely soon to come.
I hear the projections and have to chuckle, there is just so much they fail to take into account.
The next form of denial is for investors to blame posters for the drop in price which I think is well under way.
If significant dilution occured today or the O/S share count was increased there would be additional reason for a price collapse.
Good luck to you and your investments moving forward.
eye
I am sorry if I have offended you.
It is pointless to sink more into a losing proposition.
It is possible management could start a long climb up but they should show signs of understanding how to manage to do that.
I believe newbies could come out ahead but I also know that failures after failures, have taken a serious toll and could easily happen again.
There has been progress as well.
I know all to well the management style that got us here and can easily see why it can never return my investment.
Dilution has crippled us further but there is no doubt it has to happen to continue.
It all makes it a little harder to climb upward.
When people accuse me falsely to protect their own position I do get incensed but I have no problem backing up my claims.
This stock has a lot of problems all tied to its history and management style which is why the stock is so cheap.
IMHO this is a dangerous stock to average down in and those that have sunk substantial dollars initially into this stock could not possibly afford to average down to recover their losses.
It would take way too much additional investment.
Those with small investments or newbies could be in that position but I believe there is far more risk here than many would have us believe and thats based on past experience, years of making excuses for the company, and a whole lot more other depressing descriptors.
I think this stock could collapse again or it could recover slightly.
With minimal cash according to its latest Lone
Financial Statement which is a warning in itself and dilution both past and present I suggest investors weigh the risk carefully but by all means make your own decisions.
I can understand people being frustrated with me as I certainly am with this stock so I really don't blame them for attacking me but I will defend myself as I have to.
They just shouldn't say stupid or false things that escalate the conversation.
There's been lots of times I was just going to step back and wait until boneheads prodded me further.
If they continue they deserve what they get.
Anyway enough for now.
I hope you make yours back I know there's not much hope for me and others which is why I can continue to vent.
eye
Sounds to me like you never bought much at first but were able to after the stock collapse and you're happy with that,
Good for you.
I can see why you want to protect that position.
Everyone has their own story I guess and they are entitled to it.
Despite your rudeness I can accept that.
eye
I'm glad you think so cuz there's a whole lot more of them to share.
Wouldn't want to be accused of misinterpretation.
I'm glad its so helpful to you.
If you are desperate to protect your position you will have to do better than that.
eye
All you have to do is read the PR's yourself.
The truth can be right in front of people and completely contradict their own accusations yet they continue to claim I inaccurately interpret PR's.
I don't have to interpret PR's, they tell the tale by themselves all anyone has to do is read them.
The choices that cost me and many early investors huge losses are not immaterial.
The way in which they occurred should be criminal and investors should here the whole story.
They same mistakes and management style that cost so many of us never stopped why should I.
I have only touched on how monstrous and abominable managements practices were and how big a concern the Pampana Area truly was.
Accusing me of no substance or misinterpretation of PR's is really annoying and I may just have to post them all for all to interpret themselves.
Despite the baseless allegations I very well do know exactly what I am talking about and the company's own PR's confirm it all.
I find those saying otherwise lacking of substance themselves and just outright denying the truth or lying.
Either they really didn't know the truth or are out to mislead investors themselves or maybe they just forgot it all and never really had much invested in the beginning.
The past has everything to do with where we are now and the nearly 2 bil O/S shares with the stock trading in the low .00's.
Silence has never served shareholders here well ever despite the wishes of management.
As far as bashing goes I am simply telling the truth as the PR's confirm.
The company has devastated many that can never hope to recover their losses let alone escape with anything left of value.
Why should I or any of them not call the company to task about it?
Theres a lot more old news newbies at the very least should be aware of cuz the pumpers are not going to tell them the dangers of past management practices you can be sure.
Certainly not the whole story.
eye
I have no trouble agreeing with any of that but accusing me of no substance when I clearly experienced the pain and cost is just going to prod me in showing exactly what did happen.
Even those claiming to be there obviously don't read or remember the PR's that enticed investors.
I have no trouble showing the substance of any of my posts.
You are totally correct however that there is a long climb ahead if the company is to succeed.
I am correct in showing that it is the decisions and management style of the past that makes that necessary.
Newbies and latecomers do have an advantage paid in full by the Investors that preceded them.
What has happened to us could still happen again and although their opportunity may be good there is close to 2 Bil additional shares since that time.
eye
I was told there were less than 150 mil shares O/S after the wash plants had already been aquired and supposed to be in transit.
Its true there were other JV's in Operation at the time.
TORONTO, March 27, 2008 (GLOBE NEWSWIRE) -- Sierra Gold Corp. (Pink Sheets:SGCP) today announced that the Company has concluded negotiations and executed licensing agreements with six villages in two different Chiefdoms in the Tonkalili district of Sierra Leone -- through which Sierra Gold Corp. and the local populations are jointly mining more than nine separate parcels of land that have exhibited evidence of high-grade gold deposits within Chiefdom borders.
Furthermore, the Company reported that all nine Joint Venture parcels have initiated alluvial gold extraction and production operations as of March 24th, 2008 while the longest-running Joint Venture parcel, one that Sierra Gold launched in December of 2007, has been producing approximately 1kg au per month since it came online. The Company anticipates that the new Joint Venture properties will yield an aggregate monthly production of 2 kg au (gold). Gross profits from successful Joint Venture parcel development, estimated by the company at more than $450 per ounce, will go to expanded operations in the region and increase production capacity.
Its not true that the wash plants were never slated for the Pampana River. Its their portability which made that possible.
It's just false to claim otherwise. The wash plants were clearly aquired to be placed at the Pampana Concession.
FREETOWN, Sierra Leone, April 16, 2008 (GLOBE NEWSWIRE) -- Sierra Gold Corp. (Pink Sheets:SGCP) today announced that the Company has received confirmation of the delivery schedule for two self-contained high tech gold processing plants previously ordered by the Company in November 2007. The plants will be ready for shipping to Sierra Leone no later than May 1, 2008. Assuming 8-10 weeks for delivery to Freetown and an additional 2-3 weeks for delivery to the Pampana Gold Concession property and recently announced Joint Venture properties, the new portable units should be in production no later than August, 2008.
The two gold processing plants will enable Sierra Gold to process up to 20 tons of earth per hour, 10 tons per unit per hour at its mining sites, speeding up the existing gold production process considerably. Additionally, the portability of the two units will enable the company to move the gold processing plants to whatever location they deem appropriate.
Ideally suited for alluvial/placer operations, hard rock mines or sand and gravel operations, the gravity separating technology allows for cost-effective gravity separation of materials of differing densities utilizing a revolutionary, patented transverse spiral belt separator which helps the system boast recovery rates of 95%-98%. Additionally, this technology offers an environmentally friendly process with no chemicals and reduced water use.
Doug Evans, CEO of Sierra Gold, commented, "After a lengthy back ordering wait, we are very excited at the prospect that our state-of-the-art processing units will be at our production sites and in production in a mere matter of weeks. Currently we are using rudimentary and inefficient manual separation processes that utilize local labor. As such we have only been able to extract 1 Kg per month on average from the Pampana Gold Concession." He continued, "With these two units in place, processing up to 20 tons of earth per hour, we should be able to speed up production and monthly yield by a factor of 10 times or more in the short term."
Everything I have ever stated is true and easily verified.
Maybe you should do some homework yourself and see what the company actually claimed themselves before your totally unsubstantiated No substance claims.
The news Releases are fairly explicit, its the company making their own claims I didn't write them.
The company did use them to pump the crap out of the area and hard rock mining claims to draw investors to develop those properties.
Simply abandoning them without a word is sub standard even for pinkies.
Do I really have to show you the other PR's stating the wash plants were going to the Pampana?
I think you best get your home work and substance in order.
Here's a freebie
TORONTO, Jan. 22, 2008 (GLOBE NEWSWIRE) -- Sierra Gold Corporation (Pink Sheets:SGCP) will commence testing operations in new areas of interest in Sierra Leone in February 2008 on a JV basis with the local landowners. Concurrently, it is preparing a portion of its 40.12 sq/km property on the Pampana River for mining operations when the equipment ordered in November 2007 arrives.
Sierra Gold Corporation is a mineral exploration and development company with the goal of adding shareholder value through the acquisition and development of properties of merit
Now what equipment was ordered Nov 2007 must I prove it was the wash plants or do you simply concede the point.
Those wash plants were acquired with every intention of sending them to the Pampana. That region was the sole purpose for doing business in the country in the first place.
Any claims otherwise are false. The intent in the PR's is undeniable no matter how you want to interpret them.
Around the time of the first ever extractions at Pampana I was told there were approx 145 mil shares O/S.
It is truly easy to verify anything I have claimed, you simply have to read the PR's.
Its the other inferences that have no substance.
eye
Think I'll stay right here.
Management doesn't change they will continue to make the same mistakes for a long time yet to come.
As to the Pampana you all just best get used to it because it was the sub standard way they handled that Project that we find ourselves here today and everything that has happened since has been tainted because of those decisions.
Posters continue to make excuses for substandard management practices that decimated their shareholders investments.
Newbies and latecomers need to see what this company has done to investors in the past.
They have done it more than once.
eye
That's not true. They not only produced meaningful amounts at Pampana, they were recurring and increasing.
They had all the necessary means to expand and Operate that site.
They were using local labour and hand tools by their own admission.
Within 3 months they had doubled production and the wash plants were capable of multiplying those results 10 fold according to company claims.
They projected extractions of up to 20 kilo's monthly using the wash plants at Pampana alone.
If they had done that the stock could have hit dollars not triple zeros.
We were at less than 150 Mil O/S at that point.
The wash plants that were to multiply those results were already supposed to be in transit.
Abandoning the project they developed, explored, pumped excessively, tested, and funding the reports that verified those findings is what caused the stock to crumble.
The Pampana Project was the entire reason SGCP was in Sierra Leone in the first place.
The Hard Rock sites further fueled that hype.
It took years of testing, development, reports, exploration, lab analyzing, labour and Promotion to get to where we were producing growing Recurring Extractions up to 2 kg per month.
Operating costs were minimal.
After building that site up for years they just left without a word of explanation after only just announcing a ramp up and multiplication of extractions in that area.
They left without a word after they had already used their investors investments to pay for the Reports, exploration, testing etc.
They didn't even have the decency to say why.
The stock crashed as a result and the company walked away from its only gold producing venture.
Leaving the Pampana Area was a Material Event and especially so after all the hype and Promotion spent to develop it.
They just quit talking about it and never mentioned it again after Recurring Revenues were multiplying there and massive projected extractions had been announced.
With no Income to fund Operations, dilution truly began but the stock price was so cheap it took far more shares to raise targeted capital.
With the exception of the carbon enterprise in the fall of 2009 until Christmas of that year the stock continued to drop.
All dilution required since leaving the Pampana Area was multiplied because the stock was devastated and worth much less because of that decision and way in which they chose to do it.
Therefore more stock was required to sell to raise finances.
We are at close to 2 Bil O/S as a direct result of those decisions.
The problem isn't solved, the price is into the double zero's at least but that still takes a lot of shares to raise Capital.
The company has a dismal track record in doing what they say they are or will do which is why the stock has continued to be battered over the years.
Fortunately they have at least been partially successful in those claims.
If they are wildly successful this year they should begin the long and lengthy journey to recapture lost ground.
If they don't there will be plenty of time to pick up cheap shares.
The thing is we will be sitting at about 2 Bil shares O/S which certainly contributed to current stock price.
eye
If they do have good extraction results it should minimize dilution short term at the very least.
If they don't further short term dilution is imminent IMHO.
Past Revenues have not been sufficient to meet Operational Expenses but they do help.
Unfortunately additional dilution is likely to occur even with extractions because they have not been enough yet to meet Operational Requirements.
One day they will and dilution may finally come to an end.
Unless of course dilution is used to acquire additional equipment.
If that day comes those self same Revenues may be able to cover equipment acquisition without further dilution.
At this point that is a hopeful outcome but far from certain.
We could be years away from that point or it could be just around the corner.
We shall see in any case.
The last dredge acquired through the JV is a different way to add equipment.
We hold the rights to Operate and the JV Partner provides the equipment.
More equipment with no dilution but it costs a piece of the pie.
If all the equipment produces as Projected than we don't need more equipment but getting it for free doesn't hurt.
We need to market and Promote the company to the Junior Mining Market.
The equipment we have should be sufficient to get the job done.
There is nothing in the latest Update that confirms that four dredges have been Operating the past two weeks.
It does indicate they intend to shortly.
I wouldn't be surprised if no PR is issued but would be glad to see one for a change in any case.
eye
Talking about other stocks is apparently off topic but they really are not hard to find. There's tons of them.
What are you implying about stocks changing business nature?
The stock didn't drop to triple zeros because it was a start up Pinky, it dropped there due to bad management practices and decisions.
The closest it has ever been to Profitable is when it was extracting 1 kg of gold out of the Pampana monthly using only local labour and hand tools.
They had actually built up to 2 kilos in one month before the rug was pulled out and the site abandoned.
Dilution was minimal then because Revenues were meeting operating costs.
Revenues were actually increasing and were supposed to multiply by utilizing equipment in transit.
If the company had did what they claimed they would the stock would never have dropped below a penny period.
That's right it never would have hit trip zeros.
Big cap stocks use IPO's to raise capital and some stocks uplist on higher exchanges but that really has nothing to do with this stock.
He diluted over a billion shares in relatively short order because the share price had been already decimated due to sub standard management practice.
The price became so low huge dilution was required to raise Operating Capital.
Some was used for equipment as we all know.
No one ever claimed Doug was living a lavish life style.
Are you suggesting that?
I have witnessed dilution here way before late 2009 as has already been discussed.
When your shares drop from pennies to triple zeros or even double zeros, you have to issue a lot more of them to raise Capital.
That's exactly what happened.
History, a good chart and living through it tend to make one painfully aware of what happened long before late 2009.
Seems to me they have been excited before and we are still waiting.
It's been a long long time coming.
This isn't the first year that was supposed to be the massive break out year we had been waiting for.
I do know this that if this isn't the year as is suspected that year may never come.
eye
If they raised money it was likely for something.
We do need petrol for the dredges and wash plants.
Hopefully they prioritize at least and pay the bills that keep us in business.
If they don't start showing sizable and Recurring Revenues quickly they will no doubt be forced to dilute shares again.
I can see the company putting off important fees I just can't see them refusing to pay eventually.
I really don't think Doug is that shortsighted but I could see him waiting for a second or third notice until we could actually be making money from Operations.
Before that gets twisted into something it's not I will rephrase and say I expect Doug either already has or will pay fees crucial to our existence.
He will do what he has to to stay in business eventually IMHO.
They will do what they have to do to stay in business because the only alternative is to go private, which would be rather unlikely.
Anything is possible so we might as well believe they are paying their bills.
eye
Is that the one from the new JV or a different one? If it is we never had to pay for that one.
Who says all their current dredges are paid for.
They have claimed owning dredges in the past that they never did.
The PR's themselves are proof of that.
With this management team anything is possible.
Didn't they only have $ 46.04 in their chequing account on the last Balance Sheet ending Sept 30, 2010?
We know they were dredging in the last rainy season but have received absolutely no disclosure or announcement of Revenues for that period.
There is therefore no reasonable expectation of Income since the Sept 30/2010 Balance Sheet.
How does someone prepare a Balance Sheet and not an Income Statement in the first place?
They are kinda like Jack and Jill or peanut butter and jam.
I understand accounting clearly and it just doesn't compute.
The only reason to not put them out together is to try to hide info such as poor results and or dilution.
This company has hidden key info for years so the same substandard management practices are really nothing new.
Any general accounting program will print out a Balance Sheet, Income Sheet and a whole number of other Financial Statements at the click of a button.
Any Accounting Program able to print a Balance Sheet can print an Income Statement as well.
Any Accounting Firm would print a Balance Sheet and Income Statement as a bare minimum for this type of business.
Chances are they would do the whole set.
I expect the Income Statement of Sept 30 might show at least some Income from the summer dredging activities but would also show additional capital raised through the sale of stock.
They have on the prior Quarterly Reports.
Those prior reports show our take of the proceeds which is no where near the total value of the gold and diamonds extracted.
We don't get to keep it all.
I hope the chatter of the 2000.00 fees is moot but reality is the company could have easily overlooked or put off these fees because they simply didn't have the funds to deal with them.
Chances are they are either already paid or more dilution will be required to meet mandatory Operating costs.
eye
... gonna get a lot more chances probably much cheaper.
There is nothing secret just well documented account of sub standard management practices which decimated the stock so badly you were able to not only buy at .0019 but probably much cheaper.
Now if you really want to hear the details don't whine when you get them.
Since you are pushing perhaps I'll even let you take the credit for all the sharing.
The same sub standard practices that got us here continue so there will be lots of time to chat.
eye
Truth is I hope everyone wins.
It took a lot of years to get me to the dark side lol.
That's a lot of years I supported, made excuses and promoted this stock on other forums because I knew the company was dismal in Promoting itself.
I would love to see actual changes such as monthly extraction Reports, Equipment Placement and Schedules, actual PR's Promoting the company in the Junior Mining Market, current Financials including Income Statements and even a move to greater transparency that would remove the yield on Pink Sheets.
Unfortunately these are the very things the company seems to avoid year after year for a long time.
When we were actually doing these things the stock price reflected it and we truly were trading in the pennies.
Moving back to the Pampana Area would be a big plus based on all the sampling, reports, promotion, exploration and production many of us helped to pay for.
The results there really were staggering and 20 kilos of gold per month with just the wash plants and local labour can not be easily dismissed.
Even though that is only what they claimed they could produce there it is important to note they built up from 1 kg monthly extractions to two kilos per month with no equipment whatsoever.
That certainly adds credence to their claim of what the wash plants could produce there.
The carbon market is dismal but the company is not to blame for that.
I do give management credit for recognizing what GG did to us and severing ties with them.
The agri Projects seem kind of moot as well. No matter how much Revenue is ever projected for them it never seem to be realized.
Hopefully it will some day.
We do know however at the very least it is being utilized to help feed our workers which is a good thing at least.
I hope the stock does go up for you but it will take a minimum of monthly increasing extractions and other positive developments.
In order to go up the stock needs constant and recurring positive drivers.
Of course I believe PR'ing that info will have more effect and will draw more investors which could also increase share price.
I think FR's might get some current shareholders excited and buying more but they will do little to capture market share in the Junior Mining Spectrum.
I do believe the company is making progress in some areas and going nowhere in other key areas.
Which has frustrated me for a long long time.
I will continue to post my thoughts but will ease up at times to give you all a break.
Whether the company sinks or floats ultimately depends on the company and its management practices.
eye
eye
To tell the truth I believe with Proper Promotion this stock could be much higher now.
I would also be happy with four dredges announced and producing as well as the mobile wash plants, I for one waited along time for.
As far as trying to obtain more equipment they would be far better off to actually Release PR's and promote the company properly in the Junior Mining Community.
In house declarations alone will never prompt this stock to soar.
Past Practices are likely to repeat themselves and if they do they will likely stall any spurious rise in share price.
Dilution and poor performance could drive the stock down quicker than In House FR's can drive the stock up.
That doesn't mean the stock can't rise or even spurt it just means it can drop significantly much easier.
For a stock to rise it needs a driver for it to drop any number of things could prompt the drop.
That is why Shorting has been so effective.
It is far easier for a stock to drop than rise and any one who has studied Pinks and OTC BB stocks would know that.
With only In house declarations even positive drivers are minimized and that is clear to see by the ones issued in the past and the effect they have had on share price.
Proper communication and Promotion through PR's would go a long way in preventing significant drops and would pave the way for the spurious growth you are after.
IMHO they are more important than a fifth or sixth dredge when we don't even know if the first four are actually working currently.
The only way for this stock to soar is with wishful thinking or finding either a humongous diamond or solid gold vein.
I wonder if they would PR it though.
eye
eye
Drop the ifs if you like :)
That would reveal a far more telling scenario of past practices.
It would go more like this.
They won't declare what equipment is in use ( they clearly haven't yet ), so what is the chances of an Extraction Report?
When Past Practices are recurring don't they just become Standard Operating Procedures?
We will likely not know what equipment is Operating or when it started for quite some time, if ever.
That's been their Standard Operating Procedure in the past.
What's changed?
Deny it if you like but that is exactly how they have operated in the recent past. Try last year for example.
We never did hear when or what was Operating the first four months of that dry season.
Anyone that missed the .0017's will likely get another chance.
There you go, maybe that's easier to read for you.
eye
LOL , you never know.
Without something driving the stock such as extractions or Production activities the stock is much more likely to drop than rise.
Having said that, we have been trading sidewise quite a while and could go up slightly or even back to .0025 with no change or Updates as well.
That means a swing of .0001 to .0004 isn't earth shattering whether it is up or down.
The important thing to notice is drops actually below .002.
This shows further drops could still be coming.
Unless extractions or Production activities are announced I fully expect more drops.
Dilution can send the stock down with little to no warning or explanation.
eye
That data was from BarChart.com and has today's opinion as a sell.
The price could go up quickly with a clear Extraction and Production Report but FR's will have little impact on stock price if history is considered.
Dilution on the other hand will dictate drops with little indication as to why.
I would be truly but pleasantly surprised to get an actual extraction report or any kind by the end of the month.
eye
So why is anyone selling now?
Date Open High Low Last Change % Change Volume
01/19/2011 0.0021 0.0021 0.0017 0.0020 -0.0001 -4.76% 18,658,713
01/18/2011 0.0024 0.0024 0.0020 0.0021 -0.0001 -4.55% 9,771,600
01/14/2011 0.0023 0.0023 0.0021 0.0022 -0.0001 -4.35% 2,703,400
01/13/2011 0.0024 0.0024 0.0021 0.0023 unch unch 9,346,700
01/12/2011 0.0025 0.0025 0.0022 0.0023 unch unch 1,837,50
Just starting dry season production and the price dropping with higher volume.
Prices are dropping with no sign of a Production Report detailing current equipment in use and in Production.
If they won't declare what equipment is in use, what is the chances of an Extraction Report?
If Past Practices are recurring doesn't that just become Standard Operating Procedures?
If so, we will likely not know what is Operating or when it started for quite some time, if ever.
That's how it went last year.
If anyone missed the .0017's they will likely get another chance.
eye
They did just issue filings in Dec announcing dilution and I know there were several.
They did also put out a Balance Sheet showing next to nothing in the bank account.
It is not a question of if the company is diluting it is a question of how much they are diluting.
Chump change and Filings concerning dilution and Revenues targeted isn't old stuff it's actually kind of new.
There are Recurring Patterns though.
eye
It has nothing to do with ego as you should know.
It has everything to do with what management has done to decimate their shareholders that paid for the sampling, Promotion, Reports, equipment, travel and agriculture Program.
If you all want to continue so be it.
There is lots of ego here but it isn't mine.
Don't say I didn't warn you all to back off.
There is nothing I have posted that isn't true. I have proved most of it and will do again if I continue to be attacked.
If you haven't liked what I've posted so far, you won't like everything else I could say.
eye
This stocks history is entirely worth reviewing.
It clearly raises the very reasons I have to be concerned.
I am not desperately trying to protect my position as are many, I see clearly the reasons why the stock has been hammered because of sub standard management practices.
I have seen history repeat itself with this stock many times by same or similar type practices.
How long before the company even declares how many dredges we have in place and are Operational.
In the past we would just be told third hand through investors that exceptionally long raining seasons prevented full Operations or we simply wouldn't be informed at all.
How come there has been little to no info on our Upgraded Wash Plants and how long before they become Operational?
Just where exactly are they supposed to be Operated in the first place?
If the company had done what they said they would in the past, We would still be trading in pennies with about one third the O/S Share count.
As far as Projections, plans and hype the only thing anyone should believe are these developments confirmed and declared.
Apparently wanting to do something and actually doing what they say are two different kettles of fish.
If you all continue to bait me you will not like what you here.
Fill your boots.
eye