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I'm going off the pr from 8/24 with this quote:
Mr. Peterson also stated, "Cross representative samples have been crushed and shipped to the Penoles smelter outside of Durango, Mexico for additional testing and evaluation for the best possible recovery. From all indications, we have tapped into a substantial deposit. Our smelter results should be available within 30 to 45 days.
Until the engineering reports are produced by the smelter, I am taking a cautious view of our recovery capability."
Whole text:
August 24, 2011 - Las Vegas, Nevada - Marketwire -- CROWNE VENTURES, INC (Stock Symbol: CRWV) is pleased to announce the appointment of
Mr. Dane Peterson as President and CEO of the Company effective immediately.
"Securing the Gallo de Oro Property and its 9.5 million tons of recoverable ore coupled with my experience with this property makes this a perfect fit for both parties," said Mr. Peterson.
Mr. Peterson's first act as President was the execution of a 5-year mining lease between Crowne Ventures and World Investment of Mexico (WIM) for the
Gallo de Oro Property located in the Tecuala Mining District, in the State of Nayarit, Mexico.
Crowne Ventures management is also pleased to announce positive results in their continued surface sampling and initial trench testing of the Gallo de Oro claim.
Independent U.S. laboratory test results of grab samples taken from the ore that was trenched and put in a stockpile, resulted in values up to 8.3 oz. of gold/ton.
New CEO of Crowne Ventures, Dane Peterson, said,
"These results are very exciting, given the fact that we produced this tonnage in an open pit configuration with massive excavation equipment."
To further explore these values, 100 tons of ore from the Gallo de Oro Property in the Tecuala Mining District has been excavated and stockpiled for further testing.
This stockpiled ore will be shipped to a smelter facility, which is located close to Durango, Mexico.
Mr. Peterson also stated, "Cross representative samples have been crushed and shipped to the Penoles smelter outside of Durango, Mexico for additional testing and evaluation for the best possible recovery. From all indications, we have tapped into a substantial deposit. Our smelter results should be available within 30 to 45 days.
Until the engineering reports are produced by the smelter, I am taking a cautious view of our recovery capability."
by my count tomorrow is day 45
From a capital structure standpoint, there is good news in that, of the 50,000,000 shares of preferred stock authorized, zero have been issued. These preferred shares carry a conversion ratio of 50 shares of common for one share of preferred . Provided these shares are not utilized for toxic financing, the stock should rebound nicely once the campaign is concluded.
anyone with knowledge on the subject care to comment on this? is 50:1 normal? i mean, am i reading that correctly that there's another 2.5 billion shares potentially hiding out there that could be dumped on the market? can an 'opinion letter' free up preferreds? does the company have to announce issuance of preferred shares before they hit the market?
Thanks imcat for the summary and Janice for the link..
I thought it was proven to be a mail drop, no?
even if they had made an announcement about hiring a third party, it would still be automatically considered a lie in the court of your and many others' opinion... so why not wait to announce third party involvement until the results are in?
i've been pretty good... but im still hedging my investment on christmas eve with milk and CRWVookies
Bro! I want Christmas $$ too. That's why I'm sending hand written letters about CRWV to the North Pole.
go crwv... all i want for Christmas is $.50 pps... c'mon Santa I still believe in you lol
if no news by end of october - i'll look to add shares at lower pps end of first week of november as peeps really give it up for dead. in that scenario I see bottom in .004's
The problem I see with your math is how many shares are you basing it on?
I was pretty clearly basing it on 550 million free trading shares.
Does anyone know how many shares are O/S or in the float??
It doesn't matter since I assumed for the purpose of the calculation that all authorized shares were free trading.
Do you know the cost per gram to produce that gold?
No I don't. For the purposes of the calculation I figured 'cost effective' to mean a 33% production cost.
What does anyone really KNOW?
It was a hypothetical answer to a hypothetical question.
you could easily be right
assuming a 550 million share float, if the company proves up to have $2.0 billion in cost effectively recoverable gold that could end up being roughly $1.3 billion in net income over let's say 20 years so that's $65 million earnings per year over that time period which would be $0.118 EPS each year. At a 25x p/e ratio that would be $2.95 per share. ...but i am no expert so someone here will probably find something wrong with my math...and/or my knowledge of the concepts involved...
10,000,000$ x 0.1 pps = 1,000,000$ cost basis. The $25 million cash that serves as margin is not at risk. A 2% return on $26 million in a matter of hours is PHENOMENAL
What a lively discussion! Good work team. I for one am in this baby to the finish. Call me CRWVazy (a la EAGLE) but I will not realize a loss on this stock until .0001 and I won't realize a gain until we hit 0.25. a wiser man than myself said "don't invest money you can't afford to lose" ... Myself, being perhaps less wise, I just adjust my definition of the term "afford".
As for the repeatedly stated argument about how NOBODY shorts these penny stocks because of the $2.50 per share margin reqs... Here's my 2€:
It makes sense to me that if I were clever enough to be holding $26 million cash and I could find a way to short 10 million shares of Crwv at $0.10 pps and then get out at $0.05 for a 50% gain on my $1 million initial investment - I'd be happy with my shiny new half mill.
Is that an impossible scenario?
This one's gonna make moves. When it does, the only way to catch a .015 re-entry is if you are sitting there watching the b/a live.. Hence if you are watching... Then you still believe.. At least a little
think we'll get another orchestrated dump right before the smelting results get announced? i wouldn't be very surprised to see a nasty 20% - 40% drop in pps followed by PR and a multi-day rally
yes but could Penson have been the clearing firm for the dumped stock?
...'consultants' float the promotion idea to Peterson who wants to get the word out and needs capital to expand operations. the promoter(s) work with Penson (who has a history of shadiness ( http://www.finra.org/Newsroom/NewsReleases/2010/P120859 ) and they know in advance about the upcoming change in illiquid security trading guidelines mentioned in IMCAT's post ( http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67590235 ) and they don't give a hoot about the potential mineral claims - all they care about is gettin the Pump rolling ASAP so they can get to Dumpin' prior to 10/01. crwv's 'consultants' rush the prep in order to get everything set for the Pump.. plagiarism occurs in the process. promoters Dump hard but the whole thing makes Peterson pretty upset so he stops authorizing PR's because he himself feels conned. all the chat boards call it a scam. Peterson fires so-called 'consultants' and hires someone with real experience to clean up the filings. Smelter results get released in conjunction with the announcement of the 'consultants' departure.
...in my dreams anyway :)
Since this is such an obvious scam in some posters' eyes then why isn't the stock dropping precipitously (i.e. 50% per day) to the triple 0's? ...looks to me like the jury is still out - there are a lot of shares out there that aren't running for the exit...
im curoius how this Prior guy got connected with Peterson..
The broader markets have no real influence on Pinks
...thank goodness. if derivative products could get their hands on crwv then this stock would be way too risky for me lol
nooooo! what am I going to do with those 270m shares I bought???
bounced off a 52-week low again today... if you are a buy and hold kind of investor this one's a no-brainer imo
imo ooil will get an immediate buyout offer from a big fish in the energy industry if (BIG if) a carbon credit trading scheme ever becomes reality in the US - these patents will start to look very tasty
go ahead, sell tomorrow morning - i'll gladly take someone's shares in the 009's and add them to my pile
if the smelting results aren't cooked up and this company is for real then i hope there are specific arrangements made to get a third party in there to do independently verifiable testing asap... that is the kind of news that could catch crwv on fire imo
my question is why would you pick a pre-determined exit that is well below the previous pump's high of 0.13 without full knowledge of what may be in store? would you get back into crwv at a higher level than .05 if it looks like it is going strong, or will you just walk away after .05 and never look back?
In reality and overwhelmingly the "pumping for selling" tactics are more prevalent
absolutely true - i completely agree. but nonetheless, penny stocks that go from $.01 to $0.50 in a hurry are not unheard of - whether a result of "pumping for selling" or not... and i'm just saying that i would be pretty upset if i missed that kind of an opportunity by pulling out at $.025... who wouldn't be?
imo there are a lot of folks on here bashing this stock right now who actually plan to get back in for a bounce on any substantive news. these same folks will probably be planning to sell almost immediately at a small profit. i'm not saying that's a bad strategy for penny stocks... but it is the kind of strategy that will guarantee you to miss out if on the outside chance a company like CRWV ends up being for real. there must be examples of stocks like this that look, act, and smell like a scam but end up doing something amazing... i'm guessing that just about every single one that has ended up being real looked dubious at the outset. for my money, since we are gambling here, i'd rather have a shot at something special than frantically try to claw a few bucks out of CRWV in the .02's or .03's... just my opinion...
stranger things have happened
Thank you
Is there a US equivalent of the NI 43-101... and also, isn't CRWV technically not a US company (I thought it was a Mexico company?)..
janice shell
what would you need to see from this company before you would invest your money in it?
if an MM is short CRWV then does it show up as 'short interest' or no?
i could use some guidance, im pretty new to trading in general. isn't 246,000 short interest a tiny number, or am i missing something?