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Quite agree currently a speculation , and could be a fun trading vehicle the next few months.
Of course if someone could supply name of even 1 broker who allows shorting such stocks one could play going up and down.
As far increasing position imo a few simple basic questions should be answered by the company which would prompt more accumulation of shares. actually i would prefer if they cant answer they just say they are an exploration play that controls a mill. Nothing wrong with that.GO CGFI !
Thank you for the most interesting comments on a public company.
First, as I posted I see this stock as a speculative play, and possibly as a speculative investment.It as a speculative investment I am looking for basic answers to determine how much to invest.
Second, it is the company not I that brings up the NI43-101 report.For a company with under $5,000 in the bank I couldnt imagine why they would spend money on such a report,and in fact their coments about a report they have prepared internally according to NI43-101 guidelines makes sense. Of course one would expect as a public reporting company that is required to release material information that they of course do so. Read any NI43-101 report and compare to SEC Guide 7 and mining company 10k reports you will see quickly the NI43-101 contains information not found in US filings. As an example, NI43-101 reports can quote inferred resoruces, SEC filings do not include this. The NI43-101 requires information to be included and manner of preparing, the SEC except for general guidelines in SEC Guide 7 and past practice doesnt spell out requirements lile NI43-101.
Third, good point that what information is available is available in the sources you mention I just dont understand sorry why it is unreasonable that certain basic questions the company doesnt address especially since it is rather obvious a rising stock price will increase their chances of success. Of course if they dont know answers doesnt mean that it is not a good speculative play- I actually think it is, but could be a great one if management actually has apath to production that is credible. I am unaware that asking a company what capital do they forecast is required is an unreasonable question.
No I am not asking company to do more marketing and understandable that CFO doesnt manage the company by chat rooms.I do expect though that a publiccompany releasesmaterial information as they are required to do so. I dont care if they dont know, just that sharehodlers understand basic situation.
Hate to bother management about what should be obvious, but seems basic information hard for investors to arrive at. the idea that "Tons per day" doesnt mean that, but instead how many shifts per day is rather ; and lack of information for even preliminary calculations is a bit frustrating.It is management forecasting fall production, they must have some idea of how much capital they would need. Guess unless someone can point to where mroe information can be found I just have to wait until management decides it is appropriate to back up their fall 2013 production forecast.
There is no category "possible reserves", the classification is probable or proven reserves.
The NI43-101 report which is a Canadian requirement for public mining companies, does not mean there are reserves. A feasibility report where under US industry standards (SME) or a report using Canadian CIMM standards presented according to Ni43-101 rules I snecessary to establish reserves normally for a non-producing operation.Since this company probably wouldn't qualify for a Canadian listing it is unclear at least to me why they would prepare NI43-101 reports : especially as much that is required in a NI43-101 report not permitted in SEC filings.
However, if such reports are under way it is a good sign as they should answer the basic unanswered questions. After several days reading the posts and reviewing what material I could find, it remains a mystery to me what is capital required, what is basis for forecast revenue, processing and smelter costs, how mining costs forecast,and there general plan for financing. Since they are forecasting fall 2013 production they must have thought these things through and one can only assume this information will be presented to investors at some point. Will be good test of management ability to meet their own forecast.
You can quickly find SEC Guide 7 through Google, just a few pages long. Reserves can only be quoted if there has been sufficient information developed to show that the ore can be profitably extracted as you point out, and that it can be done legally such as permitting etc. Resources in USA cannot be quoted in SEC filings,but mineralized material - indicated and measured resources can,though not the ounces in this category. SEC frowns on companies promoting themselves with value of metals in the ground, and for that matter value of metals in the ground on nearby properties- for obvious reasons including calculations on cost to extract, capital required, and recovery of metals once extracted.
You will also see in SEC Guide 7 recommendation on how properties to be presented and what information to be included.This is normally the informatin to be included in a 10k. Companies of course dont always follow, but when SEC reviews 10k's etc, they can request amendments to meet requirements of SEC Guide 7 for mining and exploration companies.Many old geologists worked under old standards ( for example term "possible" reserves is no longer used for some years).
There is nothing precluding CGFI producing before establishing reserves, Endeavor began this way in Mexico several years back and did o.k., but generally considered more risky. Banks typically do not lend to mining companies without a bankable feasibility study showing proven and probable reserves and a reasonable Net Present value and Internal Rate of Return. In this case company has $2 million plus negative working capital, though a portion is in convertible debt and derivative liability thatwont be satisfied in cash.
Permitting delays are normal in this industry and any person with experience will know this.People who act surprized at this often didnt do their homework in the first place or use people familiar with current regulatory environment. Costs to construct new mill make an old mill that can be made operational a valuable asset, though one doesnt just flick on a light switch.
This is an interesting speculation the more I look at,but management hasnt provided basic simple information to evaluate whether it has a chance of producing in the latter part of the year as they forecast.
CFO needs to pay himself and for company to survive they need ongoing trading volume. This is biggest reason to speculate and trade this stock at this point, unless company can answer the most basic simple questions.Could be possible for explosive returns if they can start production in August then finance themselves through cash flow.
Thanks for help on due diligence, easier for me to ask questons if someone has already looked at !
As far as experienced miners it is an issue of timing and cost- for example one company I invested in missed their projections signficiantly becasue they couldnt ramp up production due to lack of skilled hard-rock miners. Since comodity prices so low in 90's alot of people who otherwise may have gone into industry didnt.Second, working in these old mines for efficiency and saftey reasons better done by experienced people. The issue though- as it is solvable- is timing and working capital needed to meet fall producton date.
I thought you mentioned reserves. basically some companies do go into producton with no formal reserves, but I dont notice even measured or indicated resources unless I missed it.
Thanskfor the help,I just dont know why basic information seems to be lacking for an investor to base a decision on. How complicated can it be to make a rough estimate of minimum capital required if they are producing in another 6 months ? Have they already started ordering suppleis and equipment ?
Someone wrote mill would operate 350 days a year, is that a reasonable estimate considering downtime for repairs and maintenance ?
Some simple answers would do wonders for this stock, and set it apart from others in this sector.Why be afraid of letting stockholders know the basics ? Everyone knows that a stock that just did a 5000 to 1 reverse, relying on convertible financing,etc etc is speculative and has to pull off quite a financing to achieve its goals- so why not bite the bullet and let the market know ? As I wrote I would buy much more stock if management would just let us know the basic information- whether they need to raise $2 milion or $8 million,a simple scoping study on potential economics well presented by the company even if delas production forecast into 2014 could actually result in a much higher stock price.
Starting production without establishing reserves carries a higher risk, but sometimes ( like Endeavor in its early days) it can pay off.
And all these orders they have indicated they have in hand- are those customers ready to ship ? Do they have permits,working capital and personnel ?
Any advice on these matters well appreciated.Maybe I am off base but I just have no grasp from their public filings of how much money they need to produce by fall and how they project receiving,nor whether their projections are up to date.
Thanks for your comments which one hand shed a bit more light on situation, but on other hand lead to mroe questions. I think part of issue is how this company presents matters.
As far as the "chill" effect the simple question would be if an investor buys into a private placement, can they place stock in brokerage account in 6 months- if they can't , would they invest ?
The HR issue for experienced personnel in a mining operation is not simply a factor of high unemployment in an historic mining area, doesn't work that way. Underground narrow-vein mining and operating a mill takes experience to do efficiently- you don't just hire any young person and expect them in a month or two to know how to mine ! If you do there will be safety and efficiency concerns. I am not saying they cant staff the mine but it is not an overnight thing especially if one values efficiency and safety.Thus my question more in relation to the projected August start date.
-Perhaps simply : if there is an August start date (a) how many hires do they expect for the mill and when (b) how many miners will they need to hire ?
Furthermore are they stating that the material to be mined is ready to be mined ? What underground services ( air,water , etc) have been established in advanc of mining ?
The mill capacity I find interesting. They keep using word expandable to 750 tpd, which I foudn confusing until your post. So if I understand it you are saying mill can operate at 750 tpd, but that it would reach this capacity in stages.
I am confused about your comment about reserves, where does it state anywhere that they do have any ore reserves and what is that calculation based on ? As far as I can see company doesnt in SEC filings even quote mineralized material let alone reserves.
I geuss my questions simple (a)does management still forecast August start date (b) what is estimated capital and working capital management believes is necessary and that they have based their calculations on) (c) is there a breakdown of operating costs forecast (d) where wil they sell and how will they be paid.
I do not mean to be critical, but the nebulous information available doesnt breed confidence and I have impression CFO has no operating mining experience(is this wrong,, has he any experience in an operating mining environment ?). In my case I would buy 5 times the amount of stock if these basic questions could be answered by at least some order of magnitude.
This could be excellent speculation, a better one if a few simple questions management could answer.
If they have estimated an August start date, they must have estiated CAPEX and working capital. For example if they have estimated operating costs per ton, then they have estimated labor costs and supplies necessary. One doesn't just flick on a switch- laborneeds to be hired, the mill turned over to work out any problems from being idle for a period of time.Since they have no "official" reserves, there must be estimates of where where material wil lcome from- and what equipment necessary for even low producton levels. What drilling equipment do they need , blasting supplies,hauling equipment etc etc.
It doesnt matter so much the amount of CAPEX but that it can be estimated along with a timetable- otheriwse forecasting gross profit is a bit meaningless if company unable to estimate cash flow.
Thanks for the background. The various issues making more difficult for OTC companies may restrict activities of some scam artists, but in general making it more and more difficuly for all small companies. And it is not just unregistered stock, even registered stock some brokerage firms will not accept in their accounts when low priced ?
My question is whether this chill on CGFI stock will reduce their ability to use equity financing in the future ?
Thanks for your helpful information. Which report was it derived from by the way ? So you are indicating that the estimated tonnage per day is not based on mill capacity but number of hours worked, and they expect 350 days per year i.e. thus including weekends ? Did they release estimates of downtime for mill repairs during a typical year ? Would addining second shifts and working weekends increase their operating costs per ton ?
Do they indicate how they will be paid for product ?
As far as not knowing or wanting to release the CAPEX estimates from a PR standpoint I would think that if they are marketing this as a pre-production play, estimating the CAPEX and forecast internal rates of return say in a preliminary assessment or scoping study or even pre-feasibility study would help attract more investors. Is it unreasonable for investors to have a rough idea of capital required to go into production ? Or if management still believes production can start in August 2013 ?
Looking at the 10k seems still a few steps left in the permitting process.
A corporate update giving rough capital costs, revised production commencment date, and announcing a scoping study on forecast capex and operating costs would go a long way to building investor confidence. It would not be surprizing if production doesnt start in 2013 - on other hand, if management still holds to that date, and considering their cash needs- why not build investor support now to help finance the company ?
Thanks for your helpful information. Which report was it derived from by the way ? So you are indicating that the estimated tonnage per day is not based on mill capacity but number of hours worked, and they expect 350 days per year i.e. thus including weekends ? Did they release estimates of downtime for mill repairs during a typical year ? Would addining second shifts and working weekends increase their operating costs per ton ?
Do they indicate how they will be paid for product ?
As far as not knowing or wanting to release the CAPEX estimates from a PR standpoint I would think that if they are marketing this as a pre-production play, estimating the CAPEX and forecast internal rates of return say in a preliminary assessment or scoping study or even pre-feasibility study would help attract more investors. Is it unreasonable for investors to have a rough idea of capital required to go into production ? Or if management still believes production can start in August 2013 ?
Looking at the 10k seems still a few steps left in the permitting process.
A corporate update giving rough capital costs, revised production commencment date, and announcing a scoping study on forecast capex and operating costs would go a long way to building investor confidence. It would not be surprizing if production doesnt start in 2013 - on other hand, if management still holds to that date, and considering their cash needs- why not build investor support now to help finance the company ?
I defer to your greater experience with this stock, but "scam" is a strong term to use - I always wonder how people define. Looking at the balance sheet, and the apparent timetables for payments and permits, it would not surprize me in the least that(a) they are not in production this year (b) share count will hit at least 150 million this year. Yes the CFO needs volume to get shares sold and pay himself, but does all this mean they dont believe their own projections ? Or that there is a chance if they can pull this off and get into production that this could be very successful venture ?
I am new to this stock but several people have posted they have traditional financing in the works,though a bit curious the lack of detail on this.
CEO seems a technical guy, what did you find out about CFO ?
I dont follow Newmont but (a) are they referring to cash or total costs (b) doesn't Newmont mine at much lower grades ?
I cant seem to find the basis for the forecast grade, over what width and what is mining width at the mine
I agree projection given by this company appears prepared by people without mining experience, how can they not have forecast the CAPEX required ?
Just off the top of my head what I find interesting is two things is the stable mining cost forecast ton increasing tons per day mined as usually there is some economies of scale, second what are smelting terms or how they will they get paid and is this factored into cash flow projection ?
I am new to this baord, I do not know whether they are using track or not.
I would hazard a wild guess that at 200 tons per day $150 per ton would be difficult, but at 750 tons per day with this grade it is possible.
Recent 10q - quite interesting, what a high risk-high reward company if they can pull this off.
Looking at liquidity section appears they need almost $450k for the mill payment, another $340,000 payment, unknown for mill activation, corporate overhead. At $2 million at $.05 that would be 40 million additional shares excluding shares from convertibles, so I think my prior rough estimate of 100 million outstanding shares too low,probably will be at least 150 million.That doesnt even include the other property payments.
It would be quite interesting after reading the 10q report if management holding to an August start date. (Doesnt matter to me, I would prefer a better supported start date in 2014 but a realistic timetable and capital estimates.)
Mill is main selling point, so seems CFO will pull out all the stops to keep the mill, so should be an interesting 5 months !!
I agree those number sound very good whether they achieve this year, or show solidly they are on the path to achieve next year.
Where is the support for the 1/2 ounce grade ? I looked on 10k report and didnt see that figure quoted. have they a recent study showng reserves or mineralized material with that avergae grade ?
Are they still holding to a $150 mining cost for only 200 tons per day ? Are they still forecasting a 95% recovery rate ? What is capital required to start production ?
I am new to this board and I am fascinated with production in 6 1/2 months but no capital estimates available.Could be an explosive stock top be sure !!
Actually my thought was since january 6th the payment date, then by January 1th company would have reported if the key payments made as a material event even if they re-negotiated.
Interesting this issue of borrowed money- certainly a bank loan cheaper than the discounts to be paid on convertible debt. On the other hand usually mining companies only get bank loans with a bankable feasibility report, or on-going cash flow.
Why do you say management poor ? The president seems to have experience if nothing else. It seems CFO running company and he has been successful in keeping doors open, bring in over $400,000 in cash and get some permits handled, and extremely creative in marketing the company in a tough environment for junior mining companies. I admit I am new to this stock but it seems CFO met his own objectives, am I wrong ? Seems betting on the CFO getting himself paid, and rising gold price good reasons to speculate on this stock no ? I would assume the projecton was done by the CFO not the president unless someone knows differently.
To be sure lots of questions remain on terms of the orders, capital required for start up, andof course how they met January 6th payments according to purchase agreements.
I agree with you that since CFO seems to be driving business he needs to get paid which means volume in stock so that worst case they can finance via convertibles.Though it has been mentioned by a few posts the concept of a bank lending money to an operation with negative working capital in excess of $2 million, no established reserves or feasibility report, and existing cash needs to operate of apparently $400,000+ per year according to cash flow statement. I am curious if Colorado banks are lending under such circumstances even with mill collateral.
Thanks for pointing that out about the funding source,though I admit at least to me terms do not seem clear about future funding.
As far as start up costs there will be some, and working capital will be needed. They will need to buy supplies, some equipment ( especially if they project expanding capacity), workers need to be hired,preparatin for safety checks,arrangements for payment for processed ore etc etc. As we are almost at mid-month, for an August start-up date that means about 6 1/2 months.Since no reserves established one would assume some work to block out ore for processing ore. Mill will need to be turned over before processing starts so I woudl assume personnel to operate mill would need to be hired at least a month before- and that means some sort of time to find,evaluate and hire qualified workers.All I am saying is that funding will be required - my rough guess up to $1 million but of coruse management will at some point make aprojecton and timetable. Since they are quite creative in investor relations, one can only assume there has been no announcement because there are a few unresolved issues.
Having said that once they can announce a clear timetable for production stock should do very well !
$9 million in orders, were terms disclosed ? Are these firm orders or expressions of interest ?
Sorry for all the questions I am new to this stock.
yes very new to this stock so appreciate comments by those who have been following.
trying to get a handle on whether simply a speculation on gold price and management ability to promote, or if this could really be a real producing operation. don't really understand projections of bank financing for a company with a negative working capital in excess of $2 million and no established reserves. must be something i dont understand.
been looking at the 10k, seems payments due january 6th, and if i understand correctly at 8k must be filed within 4 days of material event. so i assume an 8k will be filed today ! could be important news !
One could assume they keep costs down and employ outside contractors, many Vancouver companies operate that way. Fact that company controls a mill is a big plus.Plus CFO makes a lot mroe than CEO and seems main driving force - certainly he wil make sure there is enough volume in stock so he can get paid !
On the other hand to get an outside preliminary economic assessment or scoping study to support August production date, and revenue/profit/production forecasts would go a long way to establishing support for this company.
Perhaps more interesting is whether this is an exploration company or a development stage pre-production company. Their 10k pretty darn clear that they havent done sufficient exploration to detemrine commercial viability. Maybe they should market themselves more for exploration potential ?
Looked up DTC issue. Per 10k shares are DTC eligible but there is a "chill" on shares to be deposited with DTC. Not sure what this means but assume it means if they sell shares in private placement there might be a problem buyers depositing in brokerage accounts ? Does anyone know what the "DTC chill" means ?
Definitely looking at trading stock in small quantities, more if management provides what is capital needed this year, and means to secure that financing.Not much to ask !
HR issues not a problem ? I agree solvable , but finding experienced people in a time of high precious metal prices will take some time, and generally will need to be hired before production starts. Supplies need to be ordered, equipment in particular will have some lead times.Hard rock miners with experience are doing well at operating mines, chances are good miners already working. All I am saying is that this will take time and working capital so that to meet an August start date. Company of course could address these concerns by putting out a corporate update estimating capital required, financing plans,etc. Since stock prce - and therefore their way of making money and raising financing- would probably increase with such news, one can only assume that issue not resolved.
My main point is an August production date is only 6 1/2 months away, when will capital and working capital be raised for this ? If they have changed plans and determined further exploration needed that would be understandable but should be communicated to market.
Also, if orders in hand as one post indicated, have details of such orders been disclosed ? Is there a time frame on flling such orders ? If ore form nearby mines to be processed, does this require additional permitting ?
Again, my current opinion is this is a decent speculative stock as if the CFO wants to earn his $250+ k salary per year he must produce trading volume. For this to be considered a pre-producton play though, more information is needed.
Nice to see confidence in management from someone who has been following the stock for two years.
So looking at cash flow statements included in the 10k company requires $400,000 + in operating cash flow per year, and if they need $1 million for start up costs, then $1.4 million in cash needed. At $.10 stock price that would only be 14 million shares, 28 million if at $.05. Add in the effect of convertible note conversions, I would still estimate they would end up at 100 million shares by fall. Still not bad if they are going into production as is forecast, or if they do exploration and establish resources/mineralized material on the project. Didnt look at property payments due in 2013, does anyone know what property or debt payments beyond the current liabilities due ?
As far as traditional financing involving bank loans or bonds, not involving any equity compnent,I am not sure where the idea would emerge a bank would lend on a mining project without established reserves, positive cash flow, and negative working capital.If traditional financing means private placement of shares that would be more likely. (By the way are their shares DTC eligible ?)
Roughly without a forecast from management on start-up costs I came up with 100 million shares by the fall if they are starting process now for fall production.
Good point that if they meet projections convertible financing may not be negative. I havent looked at detail on the convertible terms but usually fairly standard that a discount is involved when converted. Key though is simply what are cash needs this year vs forecast of cash flow if they are leaving exploration stage. Seems a reasonable speculation if only because (a) gold price has remained high (b) management needs volume in stock to make money.
first, i was responding to the prior posts wherein there was a forecast of EPS.in forecasting EPS it would be normal to consider GAAP treatment of earnings.
second, with all due respect is there an issue with responding to a post that was doing a projection ? the reason for my posts was to learn more about the company from those who have followed it.
third, i believe if you read my posts my opinion to date simply this is a speculation as without any idea of costs to go into production, and whether financing has been raised, the idea of the company producing at a profit and positive cash flow in August does seem a tad aggressive to say the least !
Fair enough- you have followed stock longer than I. I only looked at historically how the company was financed last year. If those who follow company and management believe that traditional financing wil be provided , so much the better !
You are probably right, when 10q is released more information should be available. Great to hear management believes they can start production in August, that traditional financing arranged ! Since you have followed longer than I , I assume if management didnt have a track record of delivering shareholder value and meeting projections you would have mentioned.
Thanks again. What great news they will produce in 8 months ! I wonder how many employees they need and when they will be hired ?Is 5% discount from gross value typical for smelting and/or recovery losses/charges ?
How many shares do you forecast outstanding by end of year ? I had roughly calculated 100 million.
Will Sunshine Silver buyout Chester ? Seems a long time coming but apparently Sunshine Silver doing IPO next month. For long run they need Chester claims. Sunshine Silver planning massive investment in the Sunshine - over $100 million. Basically re-invent the wheel : new infrastructure to increase annual capacity from 5 million to 8 million ounces.So logical to assume at some point rather than pay Chester 20% of profits from production from their claims, that they wil buy Chester out.
When would be anyone's guess !
re - forecast shares 2013
the convertible balance of 141k i believe on paper much higher, wouldnt you add the unamortized discount to that for face amount that could be converted ?
If current liabilities on 10k $2.6 million, we add unamortized discount, deduct derivative liability as a "paper" accrual, and deduct a further $750k that perhaps could be delayed past 12 months, we get around $1.6 million. Add $1 million in capital required, or other payments, then $2.6 million. So at $.05 "traditional financing" , 52 million shares.
This doesnt count the discount the existing convertibles would have off the share price nor new convertibles.
you are right if one accepts the forecast profits, still could be great speculation, but the earnings per share would need to reflect the increased shares equired to finance business plan.
furthermore IF management is forecasting production in the fall, then they must have an estimate of capital required. a september commerical production date requires hiring of personnel, ordering of supplies, any equipment purchases and upgrades etc, etc.
And to estimate EPS under US GAAP will require certain deferred costs to be expensed - usually over the amount of reserves.
Thanks for lengthy response. My prior questions the same(a) how many shares need to be issued to raise capital necessary to implement the business projections (b) do they still forsee no new convertible issued in 2013.
Without estimate of shares to be issued to raise capital required, hard to estimate projected EPS, also considering high salaries of management how that will be covered next 8 months.
Dont mean to be negative as I still think excellent speculation, but based on last years financials it seems management will not hesitate to issue convertibles this year. I am probably not the only one who expects the share count to exceed 100 million this year. But if management correct they will get traditonal financing, that could be a major plus for the company.But $1 million at $.05 would by itself be 20 million shares itself.
Thanks I appreciate it. As I said I am just planning to speculate, but if this is actually a real business opportunity that changes level I might jump in at.
1.) I doubt they have any reserves as that generally requires a feasibility study, which if they had they would probably be shouting form the rooftops.And in any case they probably would need to file a 8k
2.) Capital requirements - even at half your estimate, even with "traditional" financing ,that would be double the outstanding shares most likely.
Since they had some sort of deadline January 6th, I assume they will be filing an 8k soon.
Thanks again
I am just going by (a) past financing methods (b)their own 10k report. Was there an 8k posted that indicated the convertibles were settled ? ( certainly would be a reportable event).
I am looking at accumulating shares based on management's need to raise funds to survive, and apparently some marketing ability for the stock.
Also I saw a post where someone referred to "shorting" this stock. I am curious if anyone knows of any brokerage firm that would permit a client to short this stock.
Hi , a question: Which brokerage firm or market maker would let a retail client short a stock like this ?
Nice powerpoint to be sure. The cash flow projection doesnt seem to provide capital and working capital requirements though. Also I am curious what the factor is for recovery losses and smelting charges.It is one thing to say a mill is expandable, it is another to factor in capital required to do so and how raised.Since they dont quote reserves, do they have any reports showing measured or indicated resources within the last 5 years ? Why does mining cost per ton apparently stay the same even with increases in daily production ? Wouldn't this usually drop as volume increases ?
If they plan to produce by fall they would need to begin ramping up now.
However does seem a good trading vehicle.
The first question I had is how many shares are forecast to be issued to cover existing convertibles ? Looking at the 10k, and current stock price and the current market value, would it not be unreasonable to expect that outstanding shares would double next 6 months ?
As an aside what does the phrase " viable ore concentrations" mean ? Reserves ? Resources ? Is the metal content in the ground reflecting costs to extract and mill ?
Second, if they need to raise say $1 million for working capital and capital requirements to produce by the fall, how many shares need to be issued ? You indicate they will get "traditional financing", I assume you mean a private placement. Have they said when such a private placement will occur ? I am new to this stock, based on their press releases the last 2 years does the company have a track record of meeting projections ?
In any case since management needs stock volume to make a living as do the promoters I think this company offers excellent opportunity for short term trading profits.Though I do think outstanding shares will double or triple by fall if not sooner.
What do you forecast are the shares to be issued in first quarter towards the convertible notes ?
The Company appears to claim they may go into production within 8 months,have they forecast the working capital and capital required ? If also financed with convertibles what would you forecast their outstanding shares to be by September ? Twice today's outstanding or three times or ?
IPO Back on for February !! Massive investment in Sunshine of over $100 million. Seems game plan is to build new mill, and build infrastructure to increase annual production potential by 2016.
Interesting new registration statement. Seems De Motte and Mclean's work in upper country area is paying off. New management says production may commence in this area by 2014. Appears De Motte and Mclean had right theory about ore in that area.
Sunshine seems confident they will win case against old bondholders.
Good plan ! Every company he gets involved in goes down. After Sterling Mining he went to Shoshone Silver for a while, dont know what he is doing now.