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Anyone who took his advice and held GDSM since April 18th when it was over a penny, has lost over 50% of their investment!
Not sure if any GDSM investors live in AZ and the people who live here are too smart to buy desert dirt scams so none of us will bother.
The case number is on the complaint and you can find out. They charge $$ so I didn't care, the fact is that Paul was charged was enough for me.
And GEAR who owns 60% of WSRA the partner of GDSM, went down 20% today so the 3 ring circus companies all had big drops.
Something must be very wrong for all 3 companies to drop so much the same day.
Speaking with a CEO and corresponding through email are two entirely different events.
I am sure I caught him off-guard and he thought Arizona Gold Corp was buried down in Florida when it went inactive in 2009. Since Don Jenkins was also an officer of that Corp and had just recently resigned his CPG registration I could understand his being a bit touchy.
Arizona Gold was used for independent reports as Jenkins attempted to sell several mining claims and apparently some disgruntled buyers threatened to sue him after they could not reproduce the same assay results.
Maybe that has something to do with Mr. Chaffee's transferring the Gold Crown to himself after the first POO, with Jenkins' name on it along with WSRA's was denied.
Either Jenkins or WSRA appears to have a bad rap with the Arizona State Trust Dept. Maybe someone wants to call and inquire about the permit applications and ask for copies to be sent to them. Maybe they would reveal why that permit was denied.
It is a Notice of Violation and is issued/sent to companies that fail to follow all the rules on their claims.
For instance - the Gold Crown claim is non-motorized. Should Mr. Chaffee drive an ATV off the road and across the claim to haul out some of those 50 5 gal. buckets that would be a violation and if tire tracks were found on the claim or someone saw him driving on the claim he would receive an NOV.
If they were to do any mining without securing the required permits and got caught they would get a NOV.
Here is an example.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77348810
Hope that helps.
The Lovito brothers have controlled GDSM for years and Paul was charged with breach of fiduciary duty, breach of duty of loyalty, and fraud in 2004.
http://www.4dca.org/june2004/06-16-04/4d03-3190.pdf
http://caselaw.findlaw.com/fl-district-court-of-appeal/1081524.html
This Statement is being filed by the Messrs. Paul F. Lovito, Jr.,Matthew J. Lovito and Marc A. Lovito (collectively, the "Lovitos"). The filing of this Statement shall not be construed as an admission that for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the Lovitos are the beneficial owners of any securities covered by this Statement, or that this schedule is required to be filed by such entities or persons or that such entities or persons constitute a group within the meaning of Section 13(d)(3) of the Exchange Act.
The business address for each of the Lovitos is 2855 North University Drive, Suite 320, Coral Springs, FL 33065.
http://globaldocuments.morningstar.com/documentlibrary/document/6ca2df1325c6c0ae.msdoc/original
Marc A. Lovito serves as the President and Chief Executive Officer of Gold Coast Mining Corp. Mr. Lovito served as Vice President and Secretary of Gold Coast Mining Corp. since September 2001. He served as Vice President with LBI Group, Inc., since June 1994. Mr. Lovito served as President of LBI Properties, Inc., a position he has held since February 1998, and Vice President of LBI E Web Communities, Inc. Mr. Lovito is also a partner in LBI Asset Management LP
Can you believe Marc has been with this since 2001 and it is still trading sub-penny and Marc claims he will build shareholder value!
Been at it for over 10 yrs - what a track record!
Don't need a degree, just spend over 3 yrs of doing mines and mining company research and you learn a lot. I learned a ton just researching GDSM and even more researching the officers connected to GDSM.
Since APP has everyone stumped, let's try a NOV. And no that is not the month. It has to do with mining operations and permits.
The discussion is about terms in the mining industry, the industry that GDSM is trying to enter, and not phones.
Clue: An APP has to do with water on a mining claim.
Really, the Nov/Dec pump had GEAR shareholders claiming GEAR would be .50 by New Years!
GEAR is going to accumulate 30BILLION dollars worth of in ground assets. Don't know how they are going to pay for them. Maybe they are cheap on E-BAY.
GEAR down 20% today -------WSRA down 25% today and GDSM down 11%.
These companies are all involved in JVs with each other and something must have gone wrong big time.
Maybe it's because Mr. Chaffee, the CEO of WSRA, transferred the Gold Crown least from WSRA to his himself and got the exploration permit issued to him. Not sure that is legal to transfer a company asset that is named in a JV from the company to himself.
Yes I saw that. Layne is the CEO, Dale's son and loves sailing up in Canada. You can find him on FB. He does some website developing.
http://www.facebook.com/layne.geck
Hey I'll take a triple on a company like SIRG with real assets, an outstanding management team and moving forward to producing revenues in 2013.
And the frosting on the cake is this Rizzo Report.
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.
And if future drill testing identifies more ore reserves SIRG's price will reflect the amount of additional minerals that are proven.
Sorry, no an APP has to do with the mining industry. Anyone who is involved in the mining industry would instantly know what an APP is.
Unless someone has a degree in a mining related industry or has done a lot of research on mines and mining companies, the average GDSM investor did not know what a POO is.
OK how about an APP? Let's see who knows what that is??
GDSM needs a GOOD update and if those test samples are bad GDSM is toast. HIGH RISK!
I didn't see your post but tried to help GDSM holders what a POO is because some of them seem confused.
The further drop by GDSM today results in an accumulated loss of 29.09% over the last 7 days of trading. So GDSM holders have lost over 1/4 of the value of their holdings and GDSM dropped to the .003s. Not pretty.
Today a Black Candlestick was formed. This represents normal selling pressure.
The POO is the Plan of Operation. After they complete other requirements, like the bugs bunny study and report and others they will then file a MOP - Mining Plan of Operations. That should take another couple of months, depending how many revisions BLM asks for.
Too funny - SIRG shareholders are not going to fall for a trip to the grey's! Get Real!
Good evening chris, always good to be on the BUZZ cloud when SIRG has a green day.
Really? I pay $2.50 per trade and I have been buying SIRG for over a year. Still $2.50! Don't need to watch any video, I know what I own and I know my broker, been with them for over 3 yrs.
SIRG's filings are long because they are a fully reporting OTC company. That is why it costs so much for a company to uplist.
Gee I don't understand all those amendments, can you explain them for us?
The SIRG forward split was in June of 2010 so that is history and not relevant to the company SIRG is today.
Got anything more current that is relevant?
For all the newbie SIRG investors, you cannot buy through TDA or ZECCO or SOGO. If that is your only broker, find another stock.
I did not misunderstand the volume and SIRG was not down 10% today. That is what I look at.
Again - there is no problem with the DTCC issues. They have been corrected and SIRG has risen since Jan.
YEP throw that old R/S back on the SIRG board again. Do you know that the last split SIRG did was a FORWARD split?
That's the difference between flippers/traders and you commented about SIRG "investors" and those are people who INVEST and hold their shares. Some of us have flipped to add more shares and done great.
You can't be serious! Yesterday SIRG traded 44,750 shares and you are commenting about low volume today when it traded 433,700 shares?? Lots of buys today and SIRG finished up 2.27%.
Yesterday was low volume, today was average!
On June 28th SIRG only traded 10,000 shares but on July 11 it traded 1,036,968 shares.
Trading volume on SIRG is so irratic that nobody can predict a move other than SIRG is now building a nice base at .009 and it is getting coiled pretty tight!
Really, you could have bought SIRG shares like others did at .0015 and you would be banking a triple today.
Yes, and there are several companies now filing a class action lawsuit against DTCC for their failure to remove companies from the chill after they have corrected or clarified all items. There are over a hundred companies that have been waiting for months to have the chill lifted and DTCC does not comply. Sorry your only account is TDA - check out Just2Trade - $2.50 a trade and works great for me!
No problem, SIRG investors are used to the silence. Rod released a PR last Oct and then nothing until Feb - almost 5 months without a PR and we just had one in June.
And most of those shares were already dumped. Please get up to speed on SIRG. Go check the O/S in the filings and you will find the figures and can add them up!
We have hiked through terrain like the GDSM claims and you really need one hand with a glove on it to push the thorny branches out of your way. Maybe they only carry one bucket at a time but that puts you off balance and makes it easier to trip or fall. Dangerous work for sure.
Attack him - I simply asked Mr. Chaffee very nicely.
"I see you were an officer of the Arizona Gold Corp. and I am wondering why it was registered in Florida"?
He told me it was none of my business and I told him it is public record and he is the CEO Of a public traded company. That's when he slammed down the phone!
I understand that.
I asked Mr. Chaffee tough questions that he clearly would rather not have people know the answers or be revealed. There was a reason why a company was registered in Florida and NOT ARIZONA despite the fact that all the residents were in Arizona. Just trying to figure out that reason!
Not only that but the address for Arizona Gold Company is a UPS store in the Safeway Center in Prescott. (It's a drop box.)
Sorry but the GDSM claims are in Arizona and the strict immigration laws here have sent most of the Mexicans packing to other states. Hard to find one to even pull weeds much less carry 5 gal. buckets of gravel.