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Today gold closed up .50 at $686.30 and silver closed down .03 at $13.96.
Today gold closed up $10.20 at $684.80 and silver closed up .22 at $14.01. For the week gold is up $11.20 and silver is up .36.
I believe that management feels that the will be a much better chance for stock appreciation at .045 than at $2.27. A ploy to suck in more investors.
That will send the GNNO OS into the billions.
Tsafi, so do I. I have been saying that they will take a significant drop next week. Gold and silver have gone up five weeks in a row so the paper players are due at any time. This has been happening for the past four years. The precious metal short positions are still against a rock and a hard place and must continue to attempt to get out of their short contracts.
This morning gold reached $683.30 and silver reached 14.17 shortly after the opening. The euro is currently trading at 1.3536 against the US dollar, up 1.07 for the week.
Today gold closed down $1.70 at $674.60 and silver closed down .02 at $13.79. So far this week gold is up $1.00 and silver is up .14. The gold/silver ratio is now 48.92.
Federal-Mogul is a billion dollar corporation that looks like they are emerging from bankruptcy in good fashion with a strong balance sheet. The company is still losing money but are cutting their losses. I especially like the relatively low amount of OS for a company this size.
Anyone that takes a look at the 10K would bail. BRVO owes approximately 5 times what the entire company is worth and it is all due in the current year. The company lost over 36 million last year and the outlook is for the same thing to take place in 2007. The company has over 200 million OS and continues to unload them at a horrendous rate and still cannot keep up with the bills.
Today gold closed up.60 at $676.30 and silver closed down .02 at $13.81. Earlier in the session gold reached $681.50 and silver reached $14.07.
That is a good company to do business with if you are a bird dog.
BANY has been making a living by selling shares to unsuspecting investors. The company owes more that the entire company is worth. Management continues to take care of themselves and no one else.
Today gold closed up $4.60 at $675.70 and silver closed up .08 at $13.83. Earlier in the session gold reached $682.30 and silver reached $14.07.
Langlui, I don't think that I have mentioned it here but David Morgan is known throughout the mining industry as the silver guru. I had the opportunity to attend the Vancouver World Gold and PGM conference in June of 2004 and sat in on a David Morgan presentation. I believe that he is probably the best that there is when it come to silver investment.
Their balance sheet was in such terrible shape that nearly anything would be an improvement. The degree of improvement is what I will be looking at.
I'm sure that he needs to be there to sign the 10K before it is submitted to the SEC. He didn't say but that would be my guess.
Steve, I'm not sure what you mean. There has been a slow steady climb lately and the 10K should be out very soon. Other than that production goes on but we are not sure to what extent.
Not as much as Tsafi says.lol. I have somewhere over 10,000 ounces.
Unico, Inc. Announces New Agreement for Additional Labor to Expedite Completion of Reconstruction at the Mill and Processing Facility at the Deer Trail Mine
Issued Tuesday April 10, 8:55 am ET
The entire article can be found on the Kitco home page.
Rob is in town but must leave for Sparks tomorrow because of what is taking place at GPXM. This is an important turning point for the company and he needs to be there. We will not be meeting as planned but hopefully will be able to in the near future when things calm down a little.
I do not subscribe to David Morgans newsletter although he is one of the very best when it comes to silver bullion.
Kevin, I forgot to thank you for the article. I was out of power for several hours today and did not see it.
Kevin, I never would feel good about someone that I do not know holding my bullion. This article does not surprise me in the least. We should ask ourselves where the silver came from that is suppose to be backing the EFT. At the time of it's creation I believe that the COMEX only had about 103,000,000 ounces and that would not be used for the fund. The 135,000,000 ounces of silver that was suppose to be needed to start the fund had to materialize out of thin air from what I could see. I have advised the holding of physical silver and will continue to do so.
Today gold closed down $2.50 at $671.10 and silver closed up .10 at $13.75.
I believe that Gemini is a very small exploration operation. I have a hard time figuring out how the can be spending 100's of thousands of dollars purchasing stock from their directors when they have no money. I must be missing something.
Langlui, The production information should be very good compared to the past exploration only situation with GPXM. I have met with Rob Martin and have been to the office in Sparks. Unless something unusual happens Golden Phoenix should continue the slow steady increase that has been happening for the past few days. The 10K should be out any time now and that should show some improvement with the 1st quarter 10Q looking even better.
By Polya Lesova, MarketWatch
Last Update: 9:34 AM ET Apr 9, 2007
NEW YORK (MarketWatch) -- Gold futures rose Monday, as traders shrugged off weakness in crude-oil prices and strength in the U.S. dollar.
ut, I find Yahoo to be unreliable and their information is rarely up to date where penny stocks are concerned.
Tsafi, I believe that you are right but for some unknown reason I believe that we may have one more week before the paper players construct another attack on the gold and silver price. But it could very well happen this week.
3-2-07---Gold $640.80...silver $12.82
3-9-07---Gold $650.20...silver $12.82
3-16-07--Gold $652.20...silver $13.10
3-23-07--Gold $656.20...silver $13.13
3-30-07--Gold $663.30...silver $13.32
4-5-07---Gold $673.60...silver $13.65
Tsafi, it looks like the company had a 1 for 100 reverse split then paid the stockholders off that had less than 100 shares then immediately had a 100 for 1 forward split. What a sleazy way to squeeze out the shareholders with less than 10,000 shares.
I agree Tsafi. The tape painting that took place will not help.
I just checked. The trade took place 20 seconds before the market closed.
Nice manipulation. A 1,000 share trade at .04.
Steve:
HISC has absolutely no money to reduce the number of outstanding common shares and in fact have a heavily negative current ratio. They cannot afford to pay the current years bills. I see no record what-so -ever of the company expending funds to purchase shares. What I believe that they have done is taken some of their own shares and converted them to preferred shares and thereby protecting themselves and leaving the common shareholders out on a limb.
They claim that they made their common shares more valuable but if you do the math you will find that at best the book value of HISC common stock is .0000195 per share. I have given the company the benefit of the doubt in coming up with a figure this high.
Today gold closed up$1.70 at $673.60 and silver closed up .12 at $13.65. For the week gold is up $10.30 and silver is up .33. The gold/silver ratio is now 49.35.
LDHI probably looks oversold Because of all of the investors that were destroyed with the 1 for 20,000 reverse split on 5-16-05. Since that time the company has been issuing shares with reckless abandon and have a history of name changes and reverse split. I look for the stock to return to the .0001 from whence it came and then for management to initiate another reverse split and ruin another batch of shareholders that have been supporting them.
It looks that way Steve. GPXM hit .383 but seems to have resistance between .38 and .40.
Charlotte Mathews
Johannesburg
INDEPENDENT researchers GFMS expect the upward trend in the gold price evident since last year to continue into next year, says the GFMS Gold Survey 2007, released yesterday.
The survey was released as spot gold hit a five-week peak in Europe of $675,80/oz, partly reflecting a weaker dollar and partly technical factors.
GFMS chairman Philip Klapwijk said in the report the impetus for the price this year would come mainly from investment, as opposed to jewellery or electronic demand.
GFMS CEO Paul Walker said in a presentation in Johannesburg that the most disappointing aspect of the upturn was that small retail investors in coins had not appeared in the same way they did when gold peaked in the 1970s and 1980s. As long as retail investors stayed away, gold's upside would be capped, but if they began buying the potential was $100-$200/oz higher.
Walker said GFMS expected to see the gold price exceed $700/oz in the next couple of months and a severe correction in the US economy could drive the price to $850/oz or higher.
Invenstor, I don't consider this to be an argument. We were discussing two different points of view and I sincerely hope that you are right.
Generally accepted accounting practices in the US do not allow estimated underground reserves to be included in the balance sheet as an asset. It is very misleading. Reserves of a billion dollars may take two billion to get to market. There is a tremendous difference between hard rock mining and open pit mining. There is no way to accurately estimate the value of underground reserves. This looks almost identical to the one that I posted about earlier. I really wish you well but don't be taken in by unscrupulous CEO's. Time will tell but it looks very familiar. If I held this stock I would call the transfer agent and see how many OS now exist.
Also take a good look at the entry statements and also at the bottom of the balance sheet for the outstanding shares. This company had a 1 for 1,000 reverse split and in three month were back up to 110,000,000 OS. This was in January of 2006. It will be interesting to see how many are outstanding after another 15 months. I believe that there will be another reverse split before the company gets on any exchange.