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Agree, those invested since 2011 prior to the GDSM pump made a lot of money and most of them dumped the end of Feb or the start of March and moved on to the next hot stock.
I agree, and hope many people have learned their lesson to be extra careful when investing in a pink sheet company like GDSM. There is so little information available in their filings it just adds to the risk.
Looking at the GDSM chart and the fact that GDSM has dropped 29% over the past 7 days, any GDSM flipper has been left holding the shells, someone ate those peanuts and ran away.
Those PRs just are not coming despite the announcement by WSRA that GDSM would be given the sample results in the first two weeks of July.
Did WSRA drop the ball and fail to provide those results to GDSM or were they so poor that they have chosen to not reveal them?
Why was VERT active on GDSM yesterday? When perspicacious traders see VERT onboard they often run the other way.
Will VERT be back today? Always a red flag so watch for him.
Interesting change of tune on GDSM.
ttmasher
Monday, August 23, 2010 8:56:45 AM
Re: fAtnhapy post# 21767
Post # of 70527
Try calling Brass Bulls/Accountant Dennis Atkins, or anyone reference GDSM! The fact is that anyone associated with GDSM bailed! The 14 million shares GDSM has of MXMI is worth less then 14,000, if GDSM could even unload them! So what is left? I would welcome some type of news on GDSM, however none has been forth coming, and there is no one left to contact!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53604125
SIRG recently elected Mr. Barton Budman as CFO, replacing Brad Hacker. Smart move as Mr. Budman is more experienced as shown in his resume. With the DTCC giving SIRG the chill in Dec. I doubt that would have happened if Mr. Budman had been in control.
Mr. Budman is a Certified Public Accountant licensed in the state of Florida. Since 2007, Mr. Budman has served as the Chief Financial
& Operating Officer for a world renowned mega-yacht manufacturer, chartering company, and real estate investment & development
organization, Broward Yacht & Marine / LPI Holdings, LLC with total annual revenue in excess of $135 million. From 2002 to 2007, Mr. Budman held a Partner position at a regional accounting and consulting firm, Garcia, Espinosa, Miyares, & Co, where he was instrumental in co-building and managing the firm.
While with the accounting firm, Mr. Budman practiced in all areas of public accounting including tax, accounting and auditing, operational business consulting, mergers and acquisitions, litigation support, initial public offerings, SEC compliance, and financial and tax transactional due diligence serving public and privately held clients.
He also worked as a Senior Audit Manager and Consultant for the accounting firm from 1997 to 2000. From 2000-2002, Mr. Budman served in a variety of executive level financial positions at Tech Inspirations, a venture capital firm based in Miami, and as Chief Financial Officer for XBOX Technologies, a publicly held technology incubator eventually acquired by Microsoft Corporation.
Mr. Budman holds dual BBA degrees in accounting and finance as well as a Masters of Business Administration from the University of Miami.
Faith and hope are not a good basis for investing in GDSM. Shareholders have been hoping that one of the Lovitos would increase the shareholder value since 2009 and longer and I believe their patience is running out.
Good morning to you as well. Another day closer to production at the SIRG copper mine.
All that hard work yesterday to bring SIRG down and it closed up. Have to be proud of the SIRG perspicacious investors who know what they own and are not going to be swayed by fear and false postings to part with their shares.
I have been a SIEG shareholder for over a year in two accounts and that was NEVER sent out. Even if I would have been missed in one mailing the odds of them missing both accounts are impossible.
IT NEVER HAPPENED.
Why would someone who claimed he owned a couple of mil shares be so determined to bring down the share price?
Does not matter why or for what or to whom. The O/S increased.
Hi kit, SIRG had a nice day despite all the attempts to drop the price it closed up. Guess people just don't understand how strong our little gem is.
Again, those notes were issued and added to the SIRG float as we watched VERT on L2 every day until they were gone. But what a blessing as we were able to grab them at .002 or less!
Those shares are so beautiful now!
Hi thiz - been lonely here on the SIRG board tonight and nice to see you here.
Yes there have been many posts that are simply not true and they continue to distort the facts.
But the bottom line is that SIRG is doing fine, building a nice base at .009 and getting coiled pretty tight.
All the hard work to bring SIRG down and then it closed up 2.27%. Must feel like a wasted day but they didn't realize how strong SIRG is.
YA - I remember the same thing from his brother, Paul Lovito, back in 2009. Some have been waiting for 3 yrs for that shareholder value to appear.
Yes it is unfortunate that junior mining companies and many other companies, over 800 of them in fact, are left with Asher as the only option to fund their start up operations.
I suggest you put SIRG on your watch list, BLM final approvals will bring out the funding details and SIRG continues to move forward to returning the mine to production in Jan/Feb.
SIRG doubled in June when this report was released on their newly launched website.
The just released Rizzo Report increased the reserves and they are higher than previously estimated. The existing ore below
the current bench levels from 3695 to 3420 values known between 3420 and 3310 could add another 13 Mlbs. Many holes were abandoned with higher than cut-off grade Cu values in and around the existing pit. Their continuation at depth could prove additional resources. Based on the forgoing, it is safe to assume that the current known resources would provide a minimum of 50 Mlbs of ore; at 5Mlbs/annum, that would support a 10 year mine life.
Hi dude, Welcome to I-HUB and the SIRG board. Being new it is amazing that you just stumbled across this little gem. Clearly you haven't taken the time to read even the I-BOX much less check out the company website.
SIRG owns 80% of the Chloride Copper mine in NW Arizona.
Here is J. Rod Martin, SIRG, CEO addressing the locals, officials and BLM agents on June 6th in the town of Chloride at a town hall meeting hosted by SIRG.
Production at the mine is planned for Jan/Feb.
Travis Snider was hired in Jan as VP of Operations at the mine.
The just released Rizzo Report increased the reserves and they are higher than previously estimated. The existing ore below
the current bench levels from 3695 to 3420 values known between 3420 and 3310 could add another 13 Mlbs. Many holes were
abandoned with higher than cut-off grade Cu values in and around the existing pit. Their continuation at depth could
prove additional resources. Based on the forgoing, it is safe to assume that the current known resources would
provide a minimum of 50 Mlbs of ore; at 5Mlbs/annum, that would support a 10 year mine life.
Why don't you review the old SIRG posts. Several people have posted those numbers several times since Sat.
My notes show
Authorized shares 440,000,000
Total issued and outstanding: 335,620,287
Total restricted: 51,485,000
There are 70,000 shares held by insiders and long term investors.
Why don't you ask Redshirt1. He is in constant touch with Mikki.
Oh it is clear.
capital structure of Gold Coast Mining is 579,887,086 shares issued and outstanding with 380,018,336 shares held in CEDE & Co (the tradable float).
Share Structure
Market Value $2,456,560 a/o Jul 19, 2012
Shares Outstanding 629,887,086 a/o Mar 31, 2012
Float 599,887,086 a/o Mar 31, 2012
Authorized Shares 750,000,000
http://www.otcmarkets.com/stock/GDSM/company-info
So how did the O/S get to 629,887,086 from 579,887,086?
FACT: 50,000,000 shares were dumped into the float in Jan/Feb/Mar of 2012. DILUTION!
Thank you for clearing that up.
On February 25, 2012, the Company entered into an agreement with Gold Coast Mining to develop the Gold Crown and GS-1 to GS-4 placer claims in Skull Valley, Arizona.
So the Gold Crown lease was included in the JV with WSRA. There is noting to indicate that Mr. Chaffee personally was included in the JV.
Arizona State Trust Land must have a copy of the transfer of the lease or change of ownership document. Not sure it is worth the work to get a copy as we already know what happened.
The GDSM JV was first announced on 19 Jan 2012 and that POO is dated April/May.
That report was done in 2005 and the Stoddard report was done in 2009.
Strange the GDSM and WSRA used a report that was old and not the newer report.
Thursday, 19 Jan 2012 11:50am EST
Gold Coast Mining Corp. announced that the Company has agreed to pursue a joint venture with Western Sierra Mining (WSRA) on the Gold Star Mine.
The Gold Star Mine, owned by WSRA, consists of up to 5 unpatented claims on over 300 acres near Prescott, Arizona. The claims show Ore Reserves of 6.75 million cubic yards of ore. The average ore tenor is 0.025 oz/yd. or 168,750 total ounces of gold. An unusual and attribute of the Gold Star property is that the mineralized black sands, appear to contain substantial gold values. Limited testing has shown these values to be fairly uniform across the claims. Gold Coast Mining and Western Sierra Mining have executed a Memorandum of Understanding ("MOU") in which the parties have agreed to finalize the terms and execute the final joint venture agreement within the next 10 days. In the meantime, the companies are working together to secure the necessary funding, as part of the final joint venture, to move the Gold Star Mine to the production phase.
Interesting that the Gold Crown is not mentioned so it may not even be in the JV.
Sadly the MOU is not available to review.
The PR announcing the JV stated the Gold Crown and Gold Star claims. Jenkins traded them to WSRA in exchange for 50,000,000 shares of WSRA. Didn't find them but need more time to search.
6 items found, displaying all items.1
Description Summary
Add All to My Images
Notice Of Mining Location
4237980
Rec. Date: 05/27/2008 12:58:00 PM Book Page: B: 4598 P: 378 Related: Book Page:
Grantor: WESTERN SIERRA MINING CORP Section: 30 Township: 12.5 Range: 2W Remarks: PT
Grantee: TREASURE GULCH #2
Added
Notice Of Mining Location
4237981
Rec. Date: 05/27/2008 12:58:00 PM Book Page: B: 4598 P: 379 Related: Book Page:
Grantor: WESTERN SIERRA MINING CORP Section: 4 Township: 12N Range: 2W Remarks: PT
Grantee: EAGLE #1
Add to My Images
Notice Of Mining Location
4237982
Rec. Date: 05/27/2008 12:58:00 PM Book Page: B: 4598 P: 380 Related: Book Page:
Grantor: WESTERN SIERRA MINING CORP Section: 4 Township: 12N Range: 2W Remarks: PT
Grantee: EAGLE #2
Add to My Images
Miscellaneous
4240700
Rec. Date: 06/05/2008 04:11:00 PM Book Page: B: 4600 P: 838 Related: Book Page:
Grantor: JENKINS DON L IND FBO, GOLDRIVER EXPLORATION LLC Mine: BUENO #1 PT ETC, Mine: SUNGOLD #2 PT ETC, Mine: BC 1 PT ETC
Grantee: WESTERN SIERRA MINING CORP
Add to My Images
Notice Of Mining Location
2010-4375328
Rec. Date: 02/23/2010 12:05:53 PM Book Page: B: 4724 P: 835 Related: Book Page:
Grantor: WESTERN SIERRA MINING Section: 30 Township: 12.5N Range: 2W Remarks: PT, Section: 31 Township: 12.5N Range: 2W Remarks: PTTR
Grantee: TREASURE GULCH #1
Add to My Images
Notice Of Mining Location
2011-0031457
Rec. Date: 06/15/2011 11:20:43 AM Book Page: B: 4817 P: 478 Related: Book Page:
Grantor: JENKINS DON L, GOLDTECH INC, CHAFFEE MICHAEL, WESTERN SIERRA MINING CORP Section: 8 Township: 11N Range: 2W Remarks: PT
Grantee: TABLE MESA
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6 items found, displaying all items.1
Not yet. When and if they uplist then we will at least learn how many of those 185,000,000 GDSM shares were issued to him and Paul.
Considering the author of that Gold Star report resigned his CPG registration how much are you willing to risk on it. Show me the assay sheets and it gains some credibility.
All the scanned documents are here.
http://s1251.photobucket.com/albums/hh551/Warmy-Ihub/
The link is in the I-Box. You will not see WSRA on the documents, only Mr. Chaffee.
Yes mining companies I have followed take an average of 2-3 years to begin revenue producon.
But GDSM and WSRA were to be different with "small scale mining" to begin in Phase II.
GDSM investors have taken a beating since April and sadly ugly facts are now being exposed about Mr. Chaffee and the Gold Star Claim.
The research and DD on GDSM was poorly done and most investors have been blind to the facts.
The facts are that only 5 gal buckets can be used to haul gravel off the 300+ acre claims and only 50 of them. Imagine if you had some 300 acres and could only take 50 samples, where do you start? that means that over 200 acres remain unsampled and one of them could contain the "mother lode".
This testing program can best be described as a "Mickey Mouse" operation.
That complaint against the former CEO of GDSM was so funny. Imagine hiding from the process server for months. If he was innocent then why was he hiding?
I do believe that $3.5 MILLION is a bit high for a grazing land or gravel pit with no proven reserves, no assay sheets - nothing. And where would GDSM get that $3.5 MILLION? And remember you are not buying the land!
So far all we know is the the Gold Crown lease is now the personal property of Mr. Chaffee. The current status of the Gold Star remains unknown.
Exactly, the one who failed to get a permit under WSRA and then transferred the Gold Crown lease to himself and then got the permit under his name.
He claims that they are doing the sampling etc. But will he admit that the testing was done with picks and shovels and included hauling 50 5 gal. buckets of gravel across the claims?
Will be interesting to see what he reports or if he does report.
Chaffee and his actions of transferring a WSRA lease to himself should be a serious problem for GDSM investors.
If he had nothing to hide, why did he fail to inform the WSRA shareholders in the letter he released on June 30th?
Where is the transparency that these CEOs claim?
I don't tell anyone what to buy or sell. I just inform people of the results of my research.
GDSM is looking worse and worse the deeper we dig. And I don't know who Steve 12 is.
There are times when CEOs are blindsighted and I doubt Chaffee thought there would be a problem/denial.
He probably had no way to know that having Jenkins name on a document might cause a denial. Another CEO I know had a similar experience in the permitting process.
These agencies are very protective and the should be. That is their job to preserve these public lands.