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I don't give a rat's behind how many "lists" is on or how many "financial statements" BGL issues.......their darn stock does not trade.
No volume.
That has to be a little unsettling.
SRGE at least has trading activity. Not too great for longs right now...but at least SRGE trades.
EarnestDD, let me help you out here. Recent GAAP changes state that all assets must be reported at their Fair Market Value.
In this case, the auditors feel that BGL's investment in Cinco Minas does have Fair Market Value (contingent upon a favorable ruling in court).
I believe (I am a CPA) that this investment in Cinco Minas should be written off since I don't believe it has any value. How can it have value if they don't even own an interest in Cinco Minas? I think the auditors have improperly reported the investment as having a Fair Market value.
We've had this discussion before...you really need to read the footnotes of their financial statements....not just the Balance Sheets and Income Statements.
tob999, I'm glad you marked my post saying you could buy in next week...........hope some have kept their powder dry.
We will be trading in this range for the foreseeable future imo.
There was not one single revelation on that "update".
Not one.
We already knew they were going to appoint (their word) a geologist.
This was not news.
It has been 4 or 5 hours since the "comprehensive update"....I kept warning the board the last few days that we would not get anything substantive through this "update"....I really can not believe how right I was. The "update" was much weaker than I thought it would be.....it was superfluous gibberish imo.
One of the reasons I was initially interested in this stock was the fact that there was a relatively low number of issued shares. I understand converting the debt (notes payable) to shares; but I think you have to be careful here if you are accumluating a ton of shares...............something is wrong here. The NSSellers are not stupid people. Be careful with this one.
The market is speaking...it's saying that there was nothing new in today's "comprehensive update".
Guys, you have to read these words. They said it would be an "update". An update just means more current information on things we are already aware of.
And, as I said before, the only way this explodes is if we have a JV with a major firm or an outright buyout. Now....either one of these would be "NEWS"!
Just as I posted earlier this week...this is going to take some time. It is not going to "skyrocket" as some have claimed.
This works to the benefit of patient investors who can systematically pick up shares from those who are not so patient.
After 1:00pm Eastern today....could be next week...lol
Now filing update after 1:00 pm Eastern time....interesting. I wonder is Ted "Chatterbox" Blom had to use a full bottle of white-out or something.....lol
Board seems a little subdued this morning...I was expecting to sign on and find all sorts of posts about the update....I guess everyone is just waiting to see what's there.
Good Luck Boys & Girls!
OK, thanks....I guess I'll wait a few moments for it....I'm on West Coast time.
Ok, thank you. Hope I am wrong about the update; I'm hoping there is something of substance disclosed.
Pardon my ignorance, but is it really going to be released at 9:00 eastern time?
Wow!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! They hired a geologist?
Really?!??
That's nice..........considering they have already supposedly doled out $10 Million....
This GNCP stock is getting to be like FFGO...where the posters hold more shares than what is supposedly issued and outstanding. Today's volume was outrageous given the supposed float totals we have been given.
Something just hit me.....feel stupid I didn't pose this question before: If you were thinking about purchasing interest in a property for millions of dollars.....Wouldn't you hire a geologist BEFORE you acquired it??????????????????????????
I'm sure tomorrow's "comprehensive update" will explain why we are tanking. I am a little bit shocked. I expected to ride the shares I bot early today at $.0007 up to $.001.
Sounds like Teddy B. has some 'splainin' to do..lol
Just as I posted yesterday, anticipation of tomorrow's "comprehensive update" has everyone jacked up...........
My second prediction is that the "update" will have no substance and just be full of what the company plans to do...not what it has done.
This management likes to talk......It would be great if they had something worthwhile to say. Actually Hiring a Geologist would be relevant....A discussion of the Geologist's findings would be NEWS..stating that you plan to hire one is not newsworthy imo.
I feel it is highly unethical for a CEO to respond to individual shareholder's E-Mails. This is a public company.
All communication should be public.
Simply put, I feel management does way too much talking and not enough "doing". I want results not words.
As I have been posting for weeks....Intentions does not equal Results.
It's probably just a bunch of smart people like me (really, you don't have to be smart) that just ride this puppy up...sell...watch it go down....buy.
It has been way too easy.
This is not going to skyrocket as some have said...unless we get real news.......e.g. a buyout or a merger. Otherwise, these properties are going to take a good while to develop.
I would not worry about buying before the update on Dec 5th. I think the closing price at the end of this week (after the "comprehensive update") will not be over $.001
I disagree. I want a CEO that is totally focused on GNCP. This Blom guy has too much stuff going on to focus on this little company imo.
I agree. I think they have "plans". I think they "expect" and "believe" things will happen.
I think the "comprehensive update" on Dec 5th will show that they really have not done anything yet. Just what they "plan" and "expect" to do.
Not being "fearful" as someone alleged...but keeping it real here.
This is getting too easy. I can tell you what is going to happen before it happens.
We received an 'update' today.....telling us that there will be an "update" on Dec. 5th.
Not news. An "update".
Stockholders are already getting all excited for Thursday...just like last month when we were told we would get an update.
The pps will go up tomorrow....everyone getting all excited about the "NEWS" that is coming on Thursday. However, once the "update" hits and everyone sees it has no substance....the pps will fall. Fall fast.
Here are the terms that will be used in Thursday's "update": The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements. e.g. We are planning on hiring a geologist.....etc.
----------------------------------------------
My view: Be careful and don't get too jacked up for Thursday's update...you will likely be disappointed due to the lack of substance. Hope I am wrong.
Two things: 1. It has been more than 4 years since BGL threw their hissy fit and filed a lawsuit without merit; 2. Anyone who knows anything about Cinco Minas knows that it is the Silver....more than the Gold that is going to be the money maker.
EarnestDD, you have completely missed my point.
My point is simple.
Bandera has been around since at least 2005.
At some point, a "Developer" needs to develop.
They should have started producing revenues years ago.
I'm not trying to be funny here or start a whole new series of posts about Davies/Johnston....but I really would like to go down there myself and find out what the hell is going on.
Is there anyway to start up an e-mail contact with the local citizens in the Cinco Minas area?
$4.00 more than BGL's revenues.
lol...sorry, I could not resist. BGL has never had any revenues.
A "Development" company that never developed.
lol....it's that time of the year...Jack Frost is making appearances everywhere. As far as management causing this dip...that is nonsense. Look at all the time and effort they put into their filings and "news". Too much "news" if you ask me.
Management is legitimate imo......just money makers & day traders causing this fiasco imo.
I think it's time to get a spot of tea or head for the golf course........I'll assess the damage later this evening
Good Luck everybody.
Where is that dude that was crowing that he had 25 Million shares?
If he had held tight.....He might have 35-40 million....
I intend to make $50 million next year and I will start implementation of my plan to date Kate Upton!
.....(like I said....Intentions do not equal results)