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I am just watching the play buy play they change very rapidly on the LII. and with large companies that trade huge amounts with large volume,it moves so fast you cant really read it. GSPG is the right speed to have some fun reading the LII. That MM pulled his block out and it takes a few mins for him to pop back in (if he keeps comes back at all). so now it can move up a bit. .05 may have been the bottom. Playing the dips are extremely risky but very fun.
I have some friends with there eye on it now too. they are going to buy in as well (just discussing where the bottom is). This will regain .06 and better for sure.IMO of course.
YAY!! PULLBACK!!!
He just moved his block to .051. .05 didnt break and he moved his block up to .052 . This guy is a booger head. After 2:00 est. we should get some volume back .. hopefully they are buys.
BOO!! MM's!!!
I am thinking .o44 possible. I pulled a 1/3 out at .055 on the second pullback today. Will try and get back in with that money at .046 to be safe. But probably wont go there till tommorrow. I been watching that MM stay just above the PPS all day with his sale block. Without wolume he will run it down a bit IMO. The 43-101 rumor is still in the air I dont beleive this pullback will last after tommorrow.
He moved his block to .053 ..... but he only has half his block left.
That ARCA# MM is still walking this down. he is sitting on .0540 now. I wonder how far till he lets go.
BOO!! MM's !!!
I noticed this MM trying to hold this at .061 or .06 last week. I thought it might be typo. but happened to many times for me to think coincidence.
Shaky start, But expected. We should be ok after the earlier .06 sales fill that didnt earlier.
YAY !! GOLD!!!
TY friend.
But no need to compliment me stating the obvious. I just hope the new investors coming in dont get scared off from people stating there strategies on how they view a penny company, without first knowing how this company has and plans to operate.The share structure has been validated through the denial of the R/S... think about it...
We are in for a fun ride IMO.
I smell BBQ for the springtime.
I'll bring the goldshlager!!
YAY!! GOLD!!!!
Also I have noticed a few people comparing our findings in the assay reports with other companies, and saying we have bad results.. What they fail to mention is that our results are in ounces and most other miners are in grams .. do the math then grab the wall as too not trip over your tongue once you realize the diffenrence. Our management team is smarter then most realize.
YAY!! GOLD!!
WE have 10 million in assests, actually. I dont have the link handy but you can recognize this through the last few 8-k's
YAY!! ASSESTS!!and GOLD!!!
I have been and I think I just found his comment on GSPG. IT is the common valuation of a first impression of a penny stock. I do value his opinion but I will say it is premature.Like most others that involve there monies with GSPG. they are hesitant at first then get sucked in by the constatnt support of this company. and start to dig deeper and realize what is actually happening here. Some call it gold fever some call it foolishness, I see it as a money... Give em a bit he will read the light.
YAY!! GOLD!!
RAins post. below .. I beleive this is the one refered too..
Forget about how amazing it is anyone buys FFGO look at GSPG. How can this one keep going up, unreal. Toxic financing, no revenue 3 billion shares O/S
OMG, whoever is making this stock go up is a miracle worker. I just read their 10q from Friday. What are they using some kind of mass hypnosis. The only thing I can figure is whoever has all these debentures that convert at 50% of current price is jacking this stock price up so they can sell to people at inflated prices.
The number of shares of Common Stock,registrant outstanding at August 5, 2008 was 3,221,255,369
Total cash assets-$534,668
Convertible debentures $8,597,966
Other notes, current portion of long-term debt $5,035,826
Operating revenues $0
Out of all these millions of dollars worth of stock they issued only $32k was for mineral claims, all the rest was for what?
Conversion of debt into company’s common shares $970,273
Issuance of company’s common stock for interest $700,066
Issuance of company’s common stock for liquidated damages $1,009,845
Issuance of company’s common stock for director fees $234,400
Issuance of company’s common stock for mineral claims $32,490
Issuance of company’s common stock for consulting $114,240
Note 7 —Convertible Debentures and Notes Payable
Convertible Debentures-Investors
We completed a private placement of securities transaction during March 2004 (the “March Offering”). In connection with the offering, we received gross proceeds of $10 million from a group of accredited institutional and individual investors.
The 8% convertible notes matured in November 2007. We must make monthly payments of 102% of 1/20 th of the initial principal amount, together with accrued interest. We have the option to repay such amounts in shares of our common stock at a conversion rate equal to 85% of the average of the five lowest closing bid prices of our common stock during the 20 trading days preceding each payment date. We may prepay the outstanding principal amount by paying the holders of the notes 115% of the then-outstanding principal amount. Each holder of notes could have elected to convert the notes into shares of common stock at an initial conversion price of $0.20 per share, which is subject to anti-dilution adjustments. During the first 20 days following the closing date, the conversion price may be reduced to a price equal to 70% of the average of the five lowest closing prices of our common stock during the 20 trading days preceding the closing date. None of the holders exercised their 20 day conversion right following the close date.
Pursuant to the terms of various financing instruments between Goldspring and some of its lenders have certain “favored nations” rights to either receive shares or have certain note conversion exercise prices reduced so that the overall equity issuance pricing is reduced to the same price as paid by any subsequent purchasers of equity and/or convertible note. On February 20, 2008, Goldspring sold 50,000,000 shares of its Common Stock at $0.01 per share purchase price. In lieu of triggering any and all “favored nations” rights, the lenders have agreed to accept $.01 per share as the new maximum conversion price all convertible notes owned by them.
Convertible Debentures-Mandatory Redemption Payment
The failure to deliver the shares by the Delivery Date resulted in liquidated damages of 1% of the note principal amount being converted per business day after the Delivery Date. We did not deliver the share certificates within the period required in the subscription agreement and as a result, in March of 2005, John V. Winfield, a major shareholder and note holder elected to demand payment of approximately $6.9 million pursuant to the mandatory redemption payment provisions of the subscription agreement and forfeit his right to receive the shares in favor of the payment.
On March 31, 2005, we entered into a Settlement Agreement (“Settlement”) with the Mr.
Winfield and agreed to convert the mandatory redemption payment into Nine Convertible Debentures (“the Debentures”). Accordingly, we accrued a liability for approximately $6.9 million and reduced our paid-in-capital account for approximately $3.5 million. The Debentures are subject to various covenants and conditions, including, but not limited to anti-dilution rights and protective rights.
Conversion Rights
The Debentures are convertible, in all or in part, into shares of our common stock (“Conversion Shares”) at any time. The conversion price shall is equal to the lesser of: (i) eighty-five percent (85%) of the average of the five (5) lowest closing bid prices of the common stock as reported by Bloomberg L.P. for the twenty (20) trading days preceding the date the Company was obligated to pay the mandatory redemption Payment; and (ii) eighty-five percent (85%) of the average of the five (5) lowest closing bid prices of the common stock as reported by Bloomberg L.P. for the twenty (20) trading days preceding the date of any such conversion; provided, however, until the effective date of the registration statement (see below), the conversion price shall be fifty-percent (50%) of the average of the five (5) lowest closing bid prices of the Common Stock as reported by Bloomberg L.P. for the twenty (20) trading days preceding the date of any such conversion. In no event shall the conversion price be higher than (i) $0.1131 and (ii) the conversion price of the convertible notes (See Note 6), as adjusted from time to time, whichever is lower.
11
Pursuant to the terms of various financing instruments between Goldspring and some of its lenders have certain “favored nations” rights to either receive shares or have certain note conversion exercise prices reduced so that the overall equity issuance pricing is reduced to the same price as paid by any subsequent purchasers of equity and/or convertible note. On February 20, 2008, Goldspring sold 50,000,000 shares of its Common Stock at $0.01 per share purchase price. In lieu of triggering any and all “favored nations” rights, the lenders have agreed to accept $.01 per share as the new maximum conversion price all convertible notes owned by them.
Security Agreement
Pursuant to the terms of the Settlement Agreement, the Debentures are granted a priority collateralized position, second only to our note payable to the Brockbank Trust (See Note 7) in substantially all of our assets.
$2,200,000 Principal Amount Convertible Debenture Financing
On August 23 and 24, 2007, the Company formally entered into an agreement with several investors to loan $1,900,000 to the Company. In March 2008, the Company amended the agreement increasing the loan amount to $2,200,000. The notes evidencing the loan bear interest at the rate of 12% per annum, payable monthly on the first of each month commencing October 1, 2007, along with 1/24 of the principal amount of such notes on each repayment date and were issued between May 18, 2007 - August 24, 2007, with the second quarter notes being treated as “bridge debt” until the loan agreement was formally signed.. The default interest is 18% per annum. The notes are also convertible into Common Stock at a 50% discount to market until a registration statement registering the Common Stock underlying the notes is effective and at a 15% discount to market thereafter. As additional consideration, the investors are to be issued a total of 20,000,000 warrants to purchase common stock at exercise prices based upon the same formulas as for conversion of the amounts due under the notes. The notes are secured by a lien on the assets of Goldspring, Inc. and a pledge of all of the interests in Plum Mine Special Purpose, LLC, which owns the Plum Mine operation. In connection with this loan, the lender has agreed to acquire the existing mortgage on the Plum Mine property from the Brockbank Trust. To date, $2,170,000 of the $2,200,000 has been funded by the investors. As of June 30, 2008, we had failed to make any monthly payments on the notes and are in default.
The notes issued as of June 30, 2008 are as follows:
Issued date
Face amount
Winfield Debenture Payable
5/15/2007
$
300,000
Winfield Debenture Payable
6/21/2007
300,000
Winfield Debenture Payable
8/23/2007
300,000
Longview Debenture Payable
8/24/2007
300,000
Winfield Debenture Payable
12/12/2007
100,000
Winfield/Longview Debenture Payable
First Quarter 2008
331,120
Winfield/Longview Debenture Payable
Second Quarter 2008
538,880
Total
$
2,170,000
12
Accordingly, at June 30, 2008 and 2007, we classified the following convertible debentures as current liabilities as follows:
June 30,
2008
June 30,
2007
Convertible Debentures Payable-Investors
$
1,105,908
$
2,328,874
Convertible Debentures Payable- Mandatory Redemption payment
5,322,058
5,835,688
Convertible Debentures Payable- Failure to Deliver Shares
-
356,348
Convertible Notes Payable - 2007 & 2008
2,170,000
2,170,000
Total
$
8,597,966
$
10,690,910
Pursuant to the terms of various financing instruments between Goldspring and some of its lenders have certain “favored nations” rights to either receive shares or have certain note conversion exercise prices reduced so that the overall equity issuance pricing is reduced to the same price as paid by any subsequent purchasers of equity and/or convertible note. On February 20, 2008, Goldspring sold 50,000,000 shares of its Common Stock at $0.01 per share purchase price. In lieu of triggering any and all “favored nations” rights, the lenders have agreed to accept $.01 per share as the new maximum conversion price all convertible notes owned by them.
Note 8 —Promissory Notes Payable
Promissory Notes Payable—July 2005 Financing
In July of 2005, we borrowed $1.2 million from companies controlled by John V. Winfield, a major shareholder. Proceeds from the notes were reduced by a 33.3% original issue discount and other origination fees. Net proceeds received by the Company from the borrowing were $740,000. The notes accrue interest at 15% per annum and are payable in monthly installments of principal and interest over a 24 month period with the remaining entire balance of unpaid principal and interest due on July 15, 2008. The default interest rate is 17% per annum. The notes are collateralized by substantially all of the Company’s assets subject to the security interest of the Brockbank Trust (See Note 7). As of June 30, 2008 we had failed to make any monthly payments on the notes and are in default.
Accordingly, the entire principal balance and all accrued and unpaid interest thereon are considered accelerated and classified as current liabilities.
Promissory Notes Payable—September 2005 Financing
In September of 2005, we borrowed $300,000 from Longview Fund L.P., a major shareholder. Proceeds from the notes were reduced by a 33.3% original issue discount and other origination fees. Net proceeds received by the Company from the borrowing were $165,500.The notes accrue interest at 15% per annum and are payable in monthly installments of principal and interest over a 24 month period with the remaining entire balance of unpaid principal and interest due on July 15, 2008. The default interest rate is 17% per annum. The notes are collateralized by substantially all of the Company’s assets subject to the security interest of the Brockbank Trust (See Note 7) and the Winfield convertible debentures of March 2005.
The notes share a security interest with the Winfield notes issued in July 2004. As of June 30, 2008, we had failed to make any monthly payments on the notes and are in default.
On July 10, 2008, the Company amended this promissory note and related outstanding interest with Longview Fund, L.P. through the issuance of an Amended and Restated Promissory Note issued by the Company in favor of Longview Fund, L.P.
13
Promissory Notes Payable: December 2005 through March 2006 Financing
In December of 2005, we borrowed $375,000 from Longview Fund L.P., a major shareholder and $200,000 from MCF Corporation. The notes accrue interest at 16% per annum, are uncollateralized and are payable including accrued interest on or before March 15, 2006. The default interest is 22% per annum. As of June 30, 2008, we had failed to make any payment on the notes and are in default.
In February 2006, we completed a financing transaction, which provided us with $250,000 in funding. In consideration for the funding, we issued a promissory note with a term of ninety (90) days and an interest rate of sixteen percent (16%) per annum. The default interest rate on the note is twenty-two percent (22%). The funds were used for working capital and general corporate purposes.
In March 2006, we completed an additional financing transaction, which provided us with $150,000 in funding under the same terms and conditions as the February 2006 financing. The default interest is 22% per annum. As of June 30, 2008, we had failed to make any payment on the notes and are in default.
On July 10, 2008, the Company amended the promissory note and related outstanding interest with Longview Fund, L.P. through the issuance of an Amended and Restated Promissory Note issued by the Company in favor of Longview Fund, L.P.
Promissory Notes Payable: 2007 Financing
On July 13, 2007 we borrowed $300,000 from Longview Fund L.P., a major shareholder.
The note accrues interest at 16% per annum, is uncollateralized and is payable including accrued interest on or before November 10, 2007. The default interest is 18% per annum. As of June 30, 2008, we had failed to make any payment on the notes and are in default. On July 10, 2008, the Company amended this promissory note and related outstanding interest with Longview Fund, L.P. through the issuance of an Amended and Restated Promissory Note issued by the Company in favor of Longview Fund, L.P.
On October 9, 2007, we completed a financing transaction, which provided us with $137,500 in funding. In consideration for the financing, we issued promissory notes with a face value of $200,000, reflecting an original issue discount of thirty-one and a quarter (31.25%) percent. The term of the notes is one.
The note does not bear interest. The funds were used for working capital and general corporate purposes. On July 10, 2008, the Company amended this promissory note and related outstanding interest with Longview Fund, L.P. through the issuance of an Amended and Restated Promissory Note issued by the Company in favor of Longview Fund, L.P.
On December 11, 2007, we formally entered into an agreement with several investors to loan $1,000,000 to the Company. In consideration for the financing, we issued promissory notes with a face value of $1,200,000, reflecting an original discount of sixteen and seventeen hundreds (16.17%) percent. The notes evidencing the loan bear interest at the rate of 4.9% per annum, payable on or prior to the one year anniversary of the respective loan date As of June 30, 2008 the entire $1,000,000 has been funded by the investors.
Promissory Notes Payable: 2008 Financing
On January 31, 2008, we completed a financing transaction with several investors which provided us with $500,000 in funding. In consideration for the financing, we issued promissory notes with a face value of $600,000, reflecting an original discount of sixteen and seventeen hundreds (16.17%) percent. The notes evidencing the loan bear interest at the rate of 4.9% per annum, payable on or prior to the one year anniversary of the respective loan date.
14
On February 29, 2008, we received the $500,000 balance of the financing from the December 11, 2007 financing agreement. In consideration for the financing, we issued promissory notes with a face value of $600,000, reflecting an original discount of sixteen and seventeen hundreds (16.17%) percent. The notes evidencing the loan bear interest at the rate of 4.9% per annum, payable on or prior to the one year anniversary of the respective loan date. On July 10, 2008, the Company amended this promissory note and related outstanding interest with Longview Fund, L.P. through the issuance of an Amended and Restated Promissory Note issued by the Company in favor of Longview Fund, L.P.
The aggregate total of the first six months of 2008 financing transactions totaled $1,000,000.
Accordingly, at June 30, 2008 and 2007, we classified the following notes payable as current liabilities as follows:
June 30,
2008
June 30,
2007
Promissory Notes Payable-July 2005 Financing
$
1,200,000
$
1,200,000
Promissory Notes Payable-September 2005 Financing
300,000
300,000
Promissory Notes Payable-December 2005 Financing
575,000
575,000
Promissory Notes Payable-February 2006 Financing
250,000
250,000
Promissory Notes Payable-March 2006 Financing
150,000
150,000
Promissory Notes Payable-July 2007 Financing
300,000
-
Promissory Notes Payable-October 2007 Financing
200,000
-
Promissory Notes Payable-December 2007 Financing
600,000
-
Promissory Notes Payable-January 2008 Financing
600,000
-
Promissory Notes Payable-February 2008 Financing
600,000
-
Total
$
4,775,000
$
2,475,000
Note 9 —Other Long Term Debt
Notes Payable- Plum Mine
We have note payable to a shareholder related to our purchase of the Plum Mining property. This note bears interest at 5% annually. The note is payable in ten quarterly payments through September 2007. As of June 30, 2008, we are in default.
$2,500,000 Principal Amount Convertible Debenture Financing
As of June 27, 2008, the Company entered into a Loan Agreement with John Winfield and affiliates (“Winfield”) pursuant to which Winfield has agreed to loan the Company $2,500,000 no later than December 31, 2008 through issuance of a series of secured notes (“Notes”). The Notes bear interest at the rate of 11% per annum, and interest is payable quarterly in either cash or Company common stock, at 85% of market price, at the Company’s option. The term of the Notes is five years from the date of issuance, and the Notes are convertible into Company common stock, at a conversion price of $.015 per share. The Notes are secured by a lien on all of the Company’s assets. On each of June 27, 2008 and July 28, 2009, Winfield lent the Company $500,000 pursuant to the Loan Agreement.
Notes Payable / Lease Obligations - Equipment Financing
During 2004, we purchased certain equipment and financed our purchases through GMAC, Ford Motor and Caterpillar Company credit agencies. Aggregated principal and interest due pursuant to the financings is due monthly in equal installments of $3,952, at an averaged interest rate of 7.2%. The equipment purchased is pledged as collateral for the debt. At June 30, 2008 and 2007, we had the following amounts due under the financings as follows:
15
June 30,
2008
June 30,
2007
Long-term Debt-Current Plum Mine
$
10,826
$
10,102
Long-term Debt-Current Seller Note
250,000
397,200
Long-term Winfield Debenture Current
-
-
Other Long-term Debt-Current
25,646
30,496
Total
$
286,472
$
437,798
Notes Payable- Equipment Financing - Continued
June 30,
2008
June 30,
2007
Long-term Debt-non current Plum Mine
$
5,970
$
17,746
Long-term Debt-non current Seller Note
-
-
Long-term Winfield Debenture
320,000
-
Other Long-term Debt -Non-current
-
28,470
Total
$
325,970
$
46,216
Principal payments on other long-term debt related to equipment financing for the next four years are as follows:
2008 (July – Dec)
$
31,466
2009
$
10,976
2009
$
-
2011 and thereafter
$
-
Total
$
42,442
Convertible Notes Payable-Failure to Deliver Shares
In March of 2005, and pursuant to our settlement with investors for our failure to deliver shares of our common stock upon their conversion of debentures during 2004 (See above), we issued convertible notes payable that accrue interest at 8% and are payable in equal monthly installments including interest beginning April 1, 2007. In the event of our default on the notes the interest rate increased to 15%.
Conversion Rights
The notes are convertible, in all or in part, into shares of our common stock at any time at an initial conversion price of $0.20, subject to certain anti-dilution provisions that include the sale of assets, reclassifications of our equity, issuance of additional shares and stock splits and dividends.
Borrower’s Repayment Election .
The monthly amount due on a repayment date shall be paid by the Company at its election (i) in cash at the rate of 102% of such monthly amount otherwise due on such repayment date within three (3) business days of the applicable repayment date, or (ii) with registered, freely transferable common stock at an applied conversion rate equal to eighty-five percent (85%) of the average of the five (5) lowest closing bid prices of the common stock as reported by Bloomberg L.P.
for the twenty (20) trading days preceding such repayment date.
On April 1, 2005, we failed to make our first payment on the convertible debentures and were in default of the terms of the convertible notes.
16
Pursuant to the terms of various convertible financing instruments between Goldspring and some of its lenders have certain “favored nations” rights to either receive shares or have certain note conversion exercise prices reduced so that the overall equity issuance pricing is reduced to the same price as paid by any subsequent purchasers of equity and/or convertible note. On February 20, 2008, Goldspring sold 50,000,000 shares of its Common Stock at $0.01 per share purchase price. In lieu of triggering any and all “favored nations” rights, the lenders have agreed to accept $.01 per share as the new maximum conversion price all convertible notes owned by them.
At June 30, 2008 and 2007 we classified the following notes payable as current liabilities as follows:
June 30,
2008
June 30,
2007
Convertible Notes Payable
$
8,597,966
$
10,690,910
Promissory notes
4,775,000
2,475,000
Other notes, current portion long-term debt
286,472
437,798
Total
$
13,659,438
$
13,603,708
Note 10. Unregistered Sales of Securities
On February 20, 2008, Goldspring raised $500,000 through a private placement to accredited investors. In consideration we issued 50,000,000 shares of our unregistered Common Stock at $0.01 per share purchase price. The proceeds from this private placement were used to fund exploratory drilling and for general working capital.
In January 2008, our two outside directors were issued, in aggregate, twenty million shares of our unregistered common stock as director compensation.
The value of the common shares at the time of issuance was $234,400, averaging $0.012 per share.
Pursuant to the November 27, 2006 Executive Employment Agreement with Robert T. Faber, its CEO, Mr. Faber was issued 80,000,000 stock options at an exercise price of $.01119 on January 9, 2008. The stock options have an expiration date of January 8, 2013.
In March 2008, two consultants were issued a total of two million shares, valued at $25,760 or $0.013 per share, for services performed.
During the first and second quarter 2008, 2,200,000 unregistered common shares, valued at $32,490 or $0.015 per share, were issued for the acquisition of mining claims in the Comstock Lode District.
In May 2008, a vendor was issued 5.53 million shares valued at $88,480 or $0.016 per share, for services.
Note 11.
Subsequent Events
On July 10, 2008, the Company amended $2,175,000 principal amount of unsecured promissory notes issued to Longview Fund, L.P. through the issuance of an Amended and Restated Promissory Note issued by the Company in favor of Longview Fund, L.P. The amended terms are as follows:
Expiration Date:
July 10, 2011
Interest Rate:
11%, payable in arrears in cash or stock (at a 15% discount to market price, calculated as a 5 day trailing VWAP)
Conversion:
The principal amount of the Note and interest thereon is convertible into Goldspring Common Stock at a price of $.0175 per share.
2008-The Rainmakers Moneymakers. stock symbol RAIN
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can you copy his remarks plz. I am running through his board but cant seem to find any GSPG remarks... Was it just one remark? of 5 min DD?.. Or does he understand the fundamentals? I will still sift through the board meanwhile.
YAY!!! GOLD!!!!
howard can you make it a bit easier and post a link? I see rainmaker as a loyal Ihubian. And would love to see what his feelings about GSPG are but plz link the post or give a post # plz.
YAY!! GOLD!!!
If you listen to the last CC I believe it was the CC .Was where Mr Faber reflected upon the fact that people are offering GSPG large sums of money if needed. Outside of the majority investor's. They where declined because he assured that our investor's that our majority's will give us what we need to keep moving . Sure the interest rate is bad, but these debts can be paid back nearly instantly. once full cycle of production is complete. The 200/1 was thrown out the window for now, With comments of maybe doing a 10/1 . I believe this is garbage too, And once production starts and if we are not bought out by this point. Then we will start buying back shares. Squeeze you holding s tightly. But play these last chances to increase your holdings wisely.
The management team has said on many PR's that they are working for a 25 year plan. This hasn't seemed to be offtrack at all IMO. Step by Step.. they seem to be taking/turning hurdles into mere lumps in the road.
YAY!! GOLD!!!
If anyone is playing the sell the news route. this is not the news to sell. the excitement has only begun. I feel there may be a small pullback monday to .055 if any I'm usually wrong about this.But my amazement of the charting skills of not only one person. I have been told by many respectable chartits IMO. With no real resistance untill .10 or .11 cents (It is difficult to chart a penny stock dont forget). I tend to feel the PPS going to these ranges before the 43-101. People who are holding for longer term are not scared of any pullbacks. these actually strengthen our holdings and have been doing so very well these last few months.
Lets not forget that Mr. Golden said We can start production tommorrow if We wanted to. But we want to make sure we optomize are milling capacity and drill in the best locations. So we are dotting the eyes and crossing the T's. Untill we feel it is time to resume. This leaves the start date up in the air a bit longer for them to feel not so pressured from the shareholders.The addition of new drilling equipment says 2 things to me.. 1: they want to complete the drill testing program before the winter and start production .. And/or 2: they could care less about production and just want to find all the gold they can before an offer is made on the company and the majority holders say take it... Either way great for us..
We have a management team that will be paid enormus amounts of money to succeed here with this company (IMO a huge driving force for our team to succeed). If you feel the tree shaking and your about to fall out I believe it will be from your own trembling legs. If you are savy enuff to play the dips feel free to ask on this board about any possible plays. There are many honest and unexcitable people here. Just trying to make a buck. Emotions are for the week.
Questions will get answered about concerns more respectably if you ask them one at a time. Asking more then one at a time is in some way upsetting for some who have the answers, And have spent weeks finding them But if you want them all in one question. That's when the emotions come in and the board loses credability. Let's not go there (the 10-Q is news we have been hearing for a long time now and will not affect any of the long term holders, The new investor's I feel will take some of there gains from the last few very successful days and get back on the side line, only to watch the real support show and jump back in)Keep your eye on the ball not where it bounces.
I apologize I will not be able to help the POG this weekend from drinking Goldschlager till I pour a dore.Because I am staying home monday and must get the work done sat & sun.
YAY!! GOLD!!!
The closing L2.
YAY GOLD!!
closing .061 on a friday.. with no sell off. Lots will be talking over the weekend .
beutifal. looks like the MM arca wont let this pass .061 for now.Cant wait for monday .. grats all.
YAY!! GOLD!!!
Lunch time is over soon.
I'm hopin for a close at .061.
YAY!! GOLD!!!
Came home for lucnh.. and I'm stayin home.lol. Grats too all!
Norel, It does seem reality is setting in. This is why PPs is climbing. 1/2 billion resource found in fist few months of this year alone. There is your money. and GSPG is not a pink it is traded on the OTC. We have the major investor's to keep us runnin until production starts. I will agree though the spike is too fast and will consolodate a bit like it always does. A spike like this was due to the itchy trigger fingers of the momentum traders. Who are expecting to flip on the 43-101. A few more days of anticipation and we will see .10 before the release. IMO of course. GLTA
YAY!! GOLD!!!
I propose a shareholder's meeting for the outfitting of all employee's to be required to where flea collars.And the banning of any and all amplification spectatles.
There are many eyes on this and they have been waiting for the reserve report, for quite some time. I would assume consolodation the way the charts are showing. But do not expect much of this. Until after the filings. Daytraders may have to conform to weekly traders on this one.
YAY!! GSPG!!!
is that 2 days in a row?
YAY GSPG!!
10 mins left. I am still hoping .054 but .06 would be better.And still looks easy to reach on the L2.
YAY!! GSPG!!!!
Small sell off at .0510 .. then scoot to .06, With volume of course. So sayith the L2. LOOKIN GOOD. If we close at .06 I will do my part and drag myself to the club and drink more Goldshalager in support of the POG.
YAY!! GSPG!!!
Zen classic thread on the yahoo board. very funny to those who have been monitoring that board as well and know the people.GJ.
The nickle wall has fallen on L2 . and we are filling the .05's nicely. run baby run. but not too fast...
YAY GOLD!!
A buyout is eventually what I see will happen for GSPG. But It wont happen for a while possibly a year or so. Our management team is not foolish. they have much more to lose then we if they sold prematurely. Although I beleive it was Mr Faber who said we may look for JV in the near future.If we cant process fast enuff. This may flush the buyout option out the window. I am not sure about buyout %'s. There are too many factor's involved for me to comment confidently.
Let's not forget that this area did not get mined out in the past. The mine actually beat the people mining it. Through greed and death. The land was so diversely owned at one point that some had claims 5feet wide by 15feet long ( where to put the leach pad?mill? and drills? diggers? oh wait I just have a pick and shovel...). For every 1 claim there where 2 lawyers defending it. Abraham lincoln knew this as well and wanted to move the capitol there if we lost the civil war to secure new monies for the future.The amount of silver they found crashed Germanys monetary system (that's what they get for naked shorting).Many great things have come from this little comstock load. And we have 80% it.
YAY GREED and DEATH!!! and GOLD!!!!
There are actually a lot of ways to value the company. Here are a few to wet your whistle.
Resource report,
http://www.sec.gov/Archives/edgar/data/1120970/000114420408034539/v117030_ex99-1.htm
Nice documentary of the comstock load. which we now have 80%.
I'm dancin!
Nice to come home and have made more money through some fun money. Then a hard days work.
I wonder if we get another assay result before the 43-101. Or would they not waste the cyberspace, save a tree.. and just add them in the 43-101. We have posted in the 8-k that environment safety and stability is one of our main priorities and requirements.
I beleive buying the rumor and selling the news is going to take place ( momentum, scalp, day, traders W/E). We should break .05 in the am tommorrow and I am guessing hit .054 before any consolodation,, if any. Selling will be minimal until 43-101. I now am hoping they hold off a bit on the 43-101. so we can gain more support above .05 and maybe hit ten. before this release..
Probably wont happen before though although I believe the ten target will happen soon after the 43-101. Since we were evaluated From Mr. Golden at about 10 or 11 cents before the reserve . and we were actually valued around .06. I take this as he was refering to the actual value at that point from there recent findings. once the reserve report is filed and proven/probable I am guessing after some consolodation we spike to the .10 or .11 . soon after. Patience is key with this one.
I tend to hold tightly what shares I still have and add a bit more . Gains are the most fun.
YAY!! GOLD!!!
Just getting in today, And I'm dancin. Nice late day run.
I still believe GSPG to be an exploration company untill production starts. I am not surprised at all. that we are gaining in PPS as other gold miners fall against the POG. The charrting seems to reflect the potential of the company not the income at this point... Especialy since we have none yet.. Or is this 43-101 momentum rally..? ( most are holding strong for the report and we should see minimal sales till then .. IMO of course.
Either way we are looking great!.. barchart just popped back to 96% buy instead of 76% buy last week or so.
http://quote.barchart.com/texpert.asp?sym=GSPG
YAY!! GOLD!!!
I am guessing wednesday for next PPS run. Holding my breathe till then.
I saw news alert on Bloomberg today when Gold broke the 200 day MA. Big deal ? short term maybe. But I dont think long term.
Gold shall once again own the world as currency , IMO. It's a cycle ramping up for the new age. 'The age of aquarius'... maybe ..
YAY!! GOLD!!!
Wow the website does have some nice prices, I can remember paying over $150.00 a few years back for these. At a GNc store.
MET-RX ORIGINAL MEAL REPLACEMENT The “Original” protein meal replacement powder
Was: $59.99
Now: $26.99 Details
Descent size trade A/H, didnt affect ths PPS. I cant tell if it was buy or sale.. No biggie, Just like to check the A/H trades to try and predict the opening for the next day.
After Hours: $ 0.0411 0.00 (0.00%) Volume: 500.0 k 4:06 PM EDT Aug 1, 2008
I plan to drink a lot of Goldshlager this weekend to help increase the POG.
GLTA!
YAY!! GOLD!!
Yes the 200/1 R/S expired yesterday after I believe a 3 year period of when it could have been implicated at any time. We are now free of the monkey on our back. And should reflect in PPS IMO within few days. Also dont forget the 43-101 coming soon will help. GLTA!
YAY!! GOLD!!
Was trying to grab more shares at .0006 for the longest time. Recognizing my own greed, I am just gonna grab the .0007 they are still a steal at this point in the game. And the .0006 are starting to look like it wont execute, for me anyway. GLTA!
YAY!! NUTRITION!!
Was hoping for a bit more action today, Oh well. It seems there is room to keep going sideways a few more days before bouncing of the mid bollinger band again and/or break the rising support line. My chart reading skills are bad at best but Thx to friendly posters I think I may have gained a few pointers.
YAY!! GOLD!!
Touche on the leases darby . these will undoubtably make a huge diference on any attempt of a buyout of our company for us shareholders. I may have to rethink my buyout predictions.
I have been a bit busy lately but next chance I get. I will do new personal evalution of GSPG and its holdings. I have posted in past my reevalution of GSPG come August. I must say, I am more confident then before about my confidence in GSPG.
Can we actualy prove there is gold in the ground ?..I would say... yes we are finding very profitable amounts. Can we keep finding these amounts ? I would say yes again, they were finding huge numbers before the ford Model T, NOw we have Mclarens topping 250 miles an hour (small example of technology gained since the timed we mined prior). And our drivers say now that they feel we have only scrathed 10% of the surface. I feel comfortable leaving my dough with MR. Faber & Mr Golden. They have done what they had to in the past to keep us afloat. But this seems to be past. I think we have sincere management who knows they are going to make quiet a sum of money just doing there job, with honorable intents. A buyout will not be in our teams own financial gains interest at this point on this project. If they were to slow down the evolution of this money machine we are unearthing. the only other gains they can gain at this point is age. Slow and steady shall win this race IMO. The past of GOlden is to get the ball rolling, I feel he is doing this again with us and himself as well.
Skybott:
What type of effect would being bought by a major have on the shareholder?
2 ways to look at it I feel.
1: Being screwed of long term gains of a very profitable and succseful company.
2:Getting paid early and with profit, But not gaining the true value of your risk for finding a diamond in the ruff.
You think we would somehow get boned a bit on what shares would be worth?
I think no matter what we as minority shareholders will get boned (not without profits though), Even with great leadership we put our trust in.
Would this crush us like a reverse split? or would we all profit handsomely?
Actually I feel when the R/S does happen it will surprise most to the affect that it actually works (the R/S does actually serve an honorable purpose and can be used to advantage) . We are pulling money out of the ground. not dealing with people or promises,... We actually pull money out of the ground, And the more Resources we find, The less likely we result to any drastic measures to keep us going.
Tanks move slowly because they can.
YAY!!! GOLD!!!!
After 43-101 we become proven. Bankable. Should be an interesting next few months. I found this on other board. very nice read.
http://www.bloomberg.com/apps/news?pid=20601082&sid=aodBvprScZHA&refer=canada
This ^^^ is what I am hoping for Goldspring. ^^^
As we have proven history of the land. It shouldn't take too many drill results to show there is still high amounts of gold and silver still in the ground ( I believe the Geologists said they estimate 10% was pulled out back in 1850's).Before the majors' step in and try to snatch this little gem up cheap. Of course the more we prove in the ground, The better the offers' ...Is that 3rd driller fired up yet?
Position is key, (IMO of course), Lovin it!
YAY!! GOLD!!
I think we are safe from the dreaded R/S.
My tummy says "buy". But my eyes say "check out dat ask", My computer says " I feel laggy today, and want to take 20 mins for order to go through " My wallet says " I'm to cheap to make broker trade..I have feeling I will wind up chasing the dragon today. The last week has held strong and PPS is ready for a leg up with the comfort most will have knowing that the R/S is not going to happen. I doubt any bad news will come, As a matter of fact I have yet too see any bad news from this company since I got in early this year.
Nice spike in POG today,
Level II looks good for now lotsa support around .04, I think I might try to snatch some more there.
YAY!! GOLD!!
The best penny stock team around . I like most about our management team is that they want people to ask em questions. to prove the validity of the company and spread the word.
Great job stocktrader1.
YAY!! PHONE CALL!! and GOLD!!
Get back in the tree! J/k. Grats on your profit.
I find myself on edge a bit too as we get closer to the deadline of the R/S, Release of the 43-101. and the deadline of the R/S are too close to be coming out at the same time. Is this the great news that Mr. Faber said he would announce as they do the R/S ? I am going to say .. maybe. Without a fly on the wall no one knows for sure.
We have secured funds needed to remove foreclosure possibilities ( bad speller) and finish drilling program +. We are in great shape IMO even with an R/S. The R/S has a bad stigma attached with bad companies so they can have more room for dilution or save there listing on an exchange. We dont seem to have either of these hurdles to jump At this point in time. I also dont think the R/S will happen for quite some time yet . As it wont really do much good in todays current standing, other then to dilute some more... I am guessing production date or sometime shortly there after will be the R/S date.
I apologize for assuming that is your reason for hopping out now. I think I am more answering my own current concerns, and looking for verification. I plan to stick it out.
Nice close. .042
YAY CHARTERS!! AND GOLD!!
Bear Market Bounce.. ouch DOW almost down 300.
Doesnt apear to be affecting the POG too much.The POG seems to be keeping its head above the 920.
Dollar will take more damage after another bad day with the markets. and Gold should pop again. IMO. L2 looks good for closing to hold our
PPS.
YAY!! BEARS!!
3,000,000 shares I saw it!
YAY!! SHARES!!