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Hi FORE:
My take on Rich is that maybe he's a good "horse trader". "Horse traders" aren't the kind of 'businessman' you want running a company with employees, shipments, and price and cost fluctuations, that need to be monitored.
There needs to be a 'business plan' and 'cash flow projections' expenses and revenues; and 'hands on management', from a business perspective, not as a mining team.
I'm concerned about Rich's ability to plan and execute reliably, day-to-day business operations. Who here isn't ? Maybe Rich is concerned too ? that would be a positive.
Until there is a reliably working mill at Don Ramon, it's too early. After there is, it would be about the right time.
IMO, running a successful business is an art; not everyone can do it. It would be a shame if Tara's full potential isn't realized.
Good luck to all.
lootie:
The FED does not run America, and that kind of post does not belong on this board. Nor are you qualified to comment on why other people are disappointed with this stock.
The FED is private, it's owned by the banks, and sets monetary policy.
Google <"The Accord" + 1951> and you will see how the FED was divorced from the US Treasury, for the first time since pre-WWII, when it was important to keep interest rates low and stable.
Since 1951, monetary policy was kept out of any administration's financial/budgetary policies.
What is happening now, is an incredible breach of "The Accord", through the 'monetization of debt' under the current administration.
For the US Treasury, a department of the executive branch, to spend 3 trillion dollars in this fiscal year, means the US must issue bonds that will debase the US$ (if they can find buyers),
and/or print dollars in order to buy Fanny/Freddie/Any US government debt.
In this case, the FED is made to bow to the pressures of anti-deflationary irresponsible Keynesian spending that can't possibly work. It is unsustainable and hyper-inflationary. The CBO has said so.
http://cboblog.cbo.gov/?p=328
Good luck. If you want to debate me on this, give me a 'blog' or website that we can continue this. Let's not do it here.
This debasement of the US$ is good for Gold but bad for America and the world. And BTW: I've read "The Creature from Jekyll Island".
I understand 'peekers' frustrations and charges. Here are my thoughts and quandaries:
The people I've met who know Rich say he's honest. Some have known him a long time. What does that mean as far as his performance ?
1) He is a liar ? No; not a liar.
2) Is he a promoter who tells a good story to attract investment money. He is.
A) Does he believe his promotions ? He does.
B) Does he care if his promotions take longer than he predicted. No, not really; in that respect, he is a salesman.
C) During the execution of his promotions, does he discover 'value added' new pathways to a bigger promotion ? He does.
3) Is he a good manager ? No. Definately not.
A) Does he care ? No. He defers to his promotion mentality.
B) Does he know he's a bad manager ? I don't think he does. I don't think he cares.
C) What is his model ? I've been involved in Hi Tech startups most of my adult life. The guys who do 'startups' are not the guys you want to have run the business, if it becomes successful.
The Future ?
1) Rich 'frames out' (yes, frames) his Empire.
2) Rich gets someone else, with management and fiduciary skills to run it. We may be early for that.
3) Rich needs to understand the damage he has done to investors and potential new investors. He is completely blind to this aspect of himself. This will be an ongoing problem and the reason shareholders should demand reliable management in a CEO someday soon.
4) There are global economics completely out of Tara's forecasts. I am a commodity investor; without the BRIC and emerging countries, Tara Minerals doesn't stand a chance. Gold and Silver are another story.
Conclusion ?
I was so unhappy with 'Rich Biscan World' as a cult, that I was going to ride it into the ground as another lesson. I'm sure 'peeker' and TT echo that. I don't trust Rich in so many ways. As 'Dirty Harry' once said, "A man has got to know his limitations".
When Rich finally puts true management, not a mining team, in place, he will have acknowledged his limitations. Revenue will be key to that.
JMHO and BTW, there have been some excellent posts here.
GLTA.
Did you guys get issued little Tara Altars where you can slaughter chickens ? or light incense, ring bells and chant ? or do some secret Tara dance under a UV strobe light ?
What an incurious bunch of investors; Bre-X should have been so lucky.
Good luck to all.
Hammer: you're a real Chicago genius; thanks for your insights.
You could get a position in the Obama administration, if you don't already have one.
In a few years, we'll all have a position in the Obama administration.
********************
There are way too many nuts on any Tara message board I visit.
Look; I have a 6 figure stock position in TRGD. Stop being an assh*le.
Break it down for me, hotshot. There are no financials to refer to, so I need your help. Get it right, OK ?
2,147,000 shares of Tara Minerals cost what ? What did TRGD pay TARM for that stock ?
What was TRGDs sale price of 7.35 million shares of PZG ? Don't give me that "sincere search" crap; if Rich ran a tight ship I wouldn't have to do his work for him.
2,147,000 shares of Tara Minerals should have cost $1,073,500.00 based on the PP offering. Then you have your declared $4.6 million for the PZG stock. That's a little over $5.7 million for 7.35 million shares. Then you have your squishy "a portion was used to pay off existing loans, and the remainder was sold to investors."
How did that all work ? If you're too stupid to not want to know, then I'm too stupid to be in this stock.
Now, give me an accounting for the 7.35 Million shares of PZG stock. I'm tired of you cultists forgiving squishy 'numbers' everywhere. What were they sold for and how ?
I want an explanation.
Tell me where the other 2.75 million shares of PZG are and I'll see if I can countenance it. I'd look under the financials, but there aren't any.
Tara Gold Completes the Sale of Its Interest in the San Miguel Project
CHICAGO, IL--(MARKET WIRE)--Oct 2, 2008 -- Tara Gold Resources Corp. is pleased to announce that it has closed the sale of its remaining San Miguel project interest to Paramount Gold and Silver Corp. for 7.35 million common shares of Paramount. Tara Gold now owns approximately 13% of Paramount.
Tara Gold Raises $4.9 Million From Sale of Investment Holding
CHICAGO, IL--(MARKET WIRE)--Jun 1, 2009 -- Tara Gold Resources Corp. announces that it has monetized its Paramount Gold and Silver Corp. equity holdings.
He is well over a year late per his own schedule and way over his budget.
You said: somehow Rich scrapped up over $2 million to develop Don Ramon
He MONITIZED 7.35 million shares of PZG for $4.9 million (today's value $11.6 million).
I'm not asking you to trust my motivation. Facts are stubborn things.
Oh Plleeaaassee spare me; what a load of sympathetic drivel. Rich hasn't done anything yet; nothing. And the "nothing" that he has done, has been on his own schedule. What makes you think he can run a business day-to-day ?
Here's a guy who knew what he could do, and did it. I'd rather have him running the Tara Empire.
Just a heads up for commodity players (me).
This guy knows his stuff:
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100000188/shipping-flashes-early-warning-signals-again/
Port statistics are revealing. They were a leading indicator before the production collapse in the Japan, Europe, and the US over the winter, and they may be telling us something again.
Amrita Sen at Barclays Capital says the number of Baltic Dry ships waiting to berth — mostly in China and Australia — has begun to fall after peaking at 154 in mid-June.
The Capesize Iron Ore Port Congestion Index (a new one for me, I must confess) is replicating the pattern seen a year ago just before the commodity boom tipped over.
“The anecdotal evidence we are hearing is that vessel queues have been falling. There are reports of cancelled tonnage from China pointing to a slowdown in Chinese buying of coal and iron ore.
“We are definitely expecting a correction. People have been building stocks of iron ore too quickly in anticipation of the stimulus package in China,” she said.
The Baltic Dry Index measuring freight rates jumped 450pc in the first half of the year on the China rebound, but has begun to fall back over the last two weeks. (Sen doubts freight rates will recover much since 1000 new ships are hitting the market this year and again next year, compared to 300 in normal years. There is obviously a horrendous shipping glut).
Over at Naked Capitalism they are reporting that international port traffic for containers (ie finished goods) is as dire as ever. The rates for 40-foot container from Asia and America’s West have actually fallen this year from $1,400 to $920.
“There has never been a decline like this before,” said Neil Drecker from the Drewry Report. “The container industry is looking at a $20-billion black hole of losses. We can expect a lot of casualties.”
As readers can guess, I remain extremely sceptical of this commodity rally (although it was to be expected as part of the inventory restocking effect). It is not underpinned by real global demand.
It is a anti-inflation play by funds betting that quantitative easing by the world’s central banks will lead to systemic currency debasement. That may ultimately happen, but the more immediate threat is the abrupt slowdown/contraction of the broad money supply (M3, adjusted M4) and the collapse in the velocity of money, as well a post-War low in capacity use (68pc in the US), and a massive global “output gap”.
All the deeper signs suggest to me that action by the Fed, Bank of Japan, Bank of England, and the European Central Bank is still not enough to offset the deflation shock. Though I recognize that this is a deeply unpopular view these days in the blogosphere.
Deutsche Bank has told clients to tread carefully. It says the global output gap is minus 6pc, and it is this gap — not the level of economic growth as such — that drives oil prices over the long run. We have in any case seen a $10 dive in oil prices already as the doubts creep in on the global recover.
Note that Deutsche Bank’s China team says the Chinese economy is “close to the cusp of the second down leg of a forecast `W’ on the back of tightening lending and slowing stimulus spending,” according to the bank’s latest report `Still Wary of Global Cyclicals’.
We are all longing to be bulls again, but we (Mankind, especially the West) have a long hard slog ahead to work off our debt depravities.
A 'Cult' does not need a schedule; it has a faith and a vision of itself in a single man; the Cult leader.
A 'Cult' doesn't need financials, scheduled goals, published results, or a sense of obligation from the 'Cult leader'. It only needs a blind belief in 'he who would make us rich'.
There will be a mine. Rich Biscan will make us rich.
Thanks. You're a voice of sanity.
The shorts are not manipulating this stock.
There are all kinds of scenarios where shorts can destroy and take over a company. This is not one.
With $4 million in the bank, a potential mine happening sometime under PeeWee Herman or Daffy Duck, the shorts would not attempt to take the Tara cult to zero. They couldn't do it right now.
The shorts are Mudpuppy's boogeymen; and they're neutered, for now.
Rich Biscan is the problem.
Even if he gets his mine up and running, can he run it as a business ?
Good question.
Great. A shroud of silence. 2 years worth of it.
http://www.wouldyoubelieve.com/cone.html
"No matter how cynical I get, I just can't keep up." Lily Tomlin.
"Never short a dull market." Or a dull stock.
What about 'the shorts' in TRGD ?
There are a lot of Tara cult members who think 'the shorts' are big players in controling the stock's price.
TRGD made a move to 16 cents on solid news, and has held there for about a month now. What do you think those 3 cent 'shorts' did ? Or were they out by then ? and the stock just languished there ? Nobody sane shorts a 3 cent stock.
So now we have a 16 cent stock in TRGD. Who is shorting it at 16 cents ? I don't think there are any shorts in this stock. The move to the upside is too much of a risk for a downside profit of pennies.
OK Tara cultists, prove to me I'm wrong.
There are too many goofy theories about this stock.
Mortgageman:
At 3 cents, what do you think the 'short position' was ?
At 16 cents, what do you think the short position is ?
What do you think the 'short position' strategy is ? and what do they stand to make from it at these price levels ?
Thanks.
Anybody else can jump in and explain.
Damn all those 16 cent naked shorts and the money they stand to make by holding TRGD back. They've been shorting since 3 cents. You have to wonder how they'll make money shorting at 16 cents. They must be geniuses.
I can eat 50 eggs.
Try reposting your thoughts again after a good nights sleep.
Who's your man to run a mining company ?
Chris Crupi or Rich Biscan ?
My latest reading of certain little bird reports, sounds like 4-6 months.
OK.
I'm not counting on two weeks anymore.
I'm going to wait until production starts. Do you have any idea when that will be ? What is the schedule anyway ?
<-The literal and traditional meaning of the word "cult" is derived from the Latin cultus, meaning "care" or "adoration", from which the word "culture" is also derived. In English, "cult" remains neutral and a technical term within this context to refer to the... "cult figure" that accompanied it.->
Absent normal transparency and accurate schedules, replace Rich Biscan with Mr. Brex. Now, what was it you invested in ?
Get a sense of humor. You'll live longer.
That's not me.
I've never accused Rich of lying; I had my own business 15 years ago with 36 employees. I have said that if Rich was one of them, I'd fire him. And if he came through the front door looking for a job, I offer him a donut and send him on his way.
Bobwins put him in the penalty box over a year ago for all the reasons I agree with. At this point it doesn't matter what he promises, scheduals, or that he doesn't say anything. He has little to no credibility so it doesn'tmatter.
I understand peeker's frustration, and I apologize to Bobwins if I've mischaracterized his position.
I'll get back lobbing zingers now. And Tara is a cult.
3 years ago. Don't be so pushy.
Shame is not a virtue of Mr. Biscan. So just pound sand for now, hoss.
Muddpuppy has all the charts. He's a genius. He can chart when dionosaurs will roam the earth again. And if you argue with him, he will vigoriously defend his idiocy from your sanity.
News is coming within 2 weeks.
This is a 'cult' and news was coming in 2 weeks a year ago. News is always coming in 2 weeks.
This is a cult.
Does the Tara Cult come to an end after one week with no news ? Will there be a Rapture if it doesn't ?
And now for something completely different...
Jim Rogers says:
http://www.oilpatchresearch.com/zOil_Gas04202009a.html
Q: Now despite the recent stock-market rally that started in March, many U.S. stocks are trading well off their 2007 highs. How come you see no value to this market?
A: I am not buying U.S. companies mainly because I think we may have seen a bottom but I don't think we have seen the bottom. I am skeptical about the rally, the world economy for the next year or two or three. But if stocks go down, I can make money with commodities. In the 1970s, commodities went through the roof even though stocks were a disaster. In the 1930s, commodities rallied first and went up the most long before stocks pulled it together.
Q: Can you summarize the reasons for your bullishness about commodities?
A: It depends on the supply and demand. And we have had a dearth of supply. Nobody has invested in productive capacity for 25 or 30 years now. The inventories of food are the lowest they have been in 50 years and you have a shortage of farmers even right now because most farmers are old men because it has been such a horrible business for 30 years. And as for metals, nobody can get a loan to open a mine as you know. Who is going to give you money to open a zinc mine? It takes at least 10 years to open a mine so it's going to be 15 or 20 years before we see new mines come on. Nobody has been opening mines for 30 years and they are not going to. And in the meantime reserves are declining. As for oil, the International Energy Agency came out recently with a study showing that oil reserves worldwide were declining at the rate of 6% or 7% a year.
That does not mean that if suddenly the U.S. goes bankrupt that everything won't collapse in price. But I would rather be in commodities because it's the only thing I know where the fundamentals are improving. They are not improving for Citibank or General Motors but the supply situation in commodities is such that when demand comes back, then commodities are going to be the best place to be in my view.
I'm impressed. 1 year after the caravan to Don Ramon, we are getting closer. And closer. And even closer...
I Dreamed a Dream.
Rich should apply for "Bailout" money. Delays are not his fault; it's a problem with his published schedules being faulty.
Privatize profit, socialize risk; it's the new economy.
Silver has been in 'backwardization' for the last 40 days.
Lead and Zinc are up 20% over the last 60 days and 30% the last 30 days. Come on Rich; a little OT please ?
http://www.kitcometals.com/charts/zinc_historical.html
http://www.kitcometals.com/charts/lead_historical.html
Andele, andele. Muy rapido. Vamanos.
http://www.individual.com/story.php?story=98217623
DJ China Feb Copper, Lead, Zinc Imports Surge To New Highs On Yr
BEIJING, Mar 22, 2009 (Dow Jones Commodities News via Comtex) --
By Chuin-Wei Yap
Of DOW JONES NEWSWIRES
Refined lead import volumes also rose strongly on year to 20,944 tons, more than seven times the 2,824 tons imported in February 2008.
The domestic price premium in recent weeks to London Metal Exchange prices reached $446 a ton.
Zinc imports were up 743% to 77,205 tons, driven by a $371/ton arbitrage gap in favor of imports.
Import volumes for iron ore stood at 46.82 million tons, up 23% on year, mostly in line with figures already released by the customs department earlier this month.
Any news ? Anyone ? Anyone ?
Bueller ?
Mortgageman ?
I can't wait to get rich.
In the history of listeneing to Rich Biscan, what makes you think you'll get a published straight story on where Tara is financially or operationally ?
Rich will tell you when he has a success; if he never does, you'll find that out in the stock price, eventually.
What surprises you about this stock, mm ? You've always been a cheerleader.
What were you thinking with your post ?
Thanks. But are the people you're talking to "in-the-know" ?
Folks on message boards post all kinds of rumors and they feed on themselves. As far as I'm concerned, if Rich isn't saying anything, there's nothing to be said.
Be that as it may, maybe Rich will turn out to be a magician; as for this past owner of a company, if Rich came to me looking for a job he wouldn't get past the secretary; if he worked for me, I'd fire him.
BTW: Time to invest in China where capitalism has fled to.
OK - Who's talked to Rich ?
What's the latest and do you belive it ?
I keep bragging to friends that I'm invested in PM stocks, but when I mention TRGD, I tell them it's a holding company for the Mexican drug cartels.
Hey, there's an idea.
"things do seem to be moving at a feverish pace"
That's funny. They must all be Mexican narcoleptics down there.
That should be way too obvious.
But instead, everybody is supposed to call the CEO, get the information all the others that have called the CEO got, then post, that if you are questioning what's going on, you should call the CEO.
Then, those that have called the CEO 'wink and nod' about how ignorant all us other dummies are without telling us what the CEO said regarding their questions.
Why couldn't the CEO just put out the news and let everybody have it instead of not being productive while he's on the phone, answering questions from individual investors ?
I'm just asking a serious management question here. Again.
Hey hotshot mortgageman:
Tell Rich the board is breathlessly living in a small era of high expectations again. We're at 9 cents and hoping.
Tell Rich to 'not screw up' investor's expectations anymore. That is, if you can tell him anything that has to do with time, or investor's expectations, or reality, he should listen up.
Thanks.
I'm sure he'll listen to you; or me; or the investors. LOL.
Base metals and Silver
http://www.theaureport.com/pub/na/2147
TGR: So you're saying once the base metals price comes back, those projects will come back on line. So until then, that’s not a sector to look at investing in.
BC: No. If someone’s positive on base metals—and I think it's more important to act on your read of the data than mine—now would be a great time to buy the producers with the lowest production costs and low debt. Those are the companies that will survive and buy the assets they feel offer value. But I am not focusing there.
TGR: What about precious metals?
BC: That’s a different story. I think precious metals will be entering a new era of respect over the next few years at least. Gold is going to do quite well over the long run and silver, which to some degree mirrors the gold price, will also do well.
Gold is real money. Silver is often lumped into that category as well by investors. I do think the fundamentals for silver are going to improve just because 70% of silver production comes out of base metal deposits. With these base metal deposits being shut down, the silver supply or production is going to drop off and that should be positive for the silver price.
TGR: But if silver goes up high enough, wouldn’t that justify keeping those projects going?
BC: It’s on a case-by-case basis. Let’s look at what people call silver mines, the silver companies. There are very few pure silver companies. Almost every silver company is really a lead, zinc, and silver production company and they need this lead and zinc credit to make these things profitable. I look at a lot of the mines and companies operating in Mexico and Peru. By and large the so-called silver companies are underground mining silver grades in, say, the 150 to 275 grams per tonne range with decent zinc and lead credits. That’s not a very good deposit, really. It’s marginal at best and these things don’t make money, especially if you add in exploration and forward development costs.
These mines generally produce a lead-zinc-silver concentrate that then gets shipped to a smelter and the smelter pays you X amount for the lead, zinc, and silver in that concentrate. When zinc was $1.50 to $2.00, you made good money. Now at 50 cents, you can see what the problem is.
Plus, because there’s such a low demand for base metals, the smelters are paying even less for the zinc in concentrate. It used to be they’d pay, let’s say, 70% of the spot zinc price back to the mining company. Now I’ve seen them only getting about 50% of the value of zinc in their concentrate. If zinc’s 50 cents, which is low, they’re only getting 25 cents once the smelter takes their cut.
TGR: So regarding silver, you're saying because the base metal mines are shutting down, the production of silver is decreasing, at the same time the demand will increase because of the financial situation worldwide?
BC: I think so.
What's the plan, Rich ? Sell assets and keep paying your salary ?
---------------------
Tens of thousands of mining jobs cut; more signs that worse is yet to come...
Sandy Shore, AP Business Writer
DENVER (AP) -- Withering cost cuts across the mining industry have left tens of thousands of people without jobs from the Arizona desert to the Andes -- and there is a litany of evidence that the situation is growing worse.
International mining companies also have postponed or canceled projects and padlocked the gates to mines as consumers have cut spending on cars, jewelry and housing.
Global mining giant Rio Tinto announced last week that iron ore production, used to make steel, tumbled 18 percent in the fourth quarter and said Tuesday its aluminum subsidiary would double previously announced production cuts.
Unwanted copper, gold, bauxite (used in aluminum) and iron ore, is piling up or being left underground as the worst recession in at least a generation saps demand.
"Expect inventories to get bigger and expect this continuing process (of cutbacks)," said Andrew Martyn, a portfolio manager who specializes in mining for Toronto-based Davis-Rea Ltd. "It's going to go for quite some time here."
The effect on many communities worldwide that rely on mining has been immediate. Workers are protesting job cuts and others are expected to begin migrating in large numbers in search of work, some across international borders.
"A lot of the communities are remote so that when (mines) do shut down, the town actually collapses," Martyn said.
The bulk of the layoffs in the United States are in base metals such as copper and zinc, although major companies are scaling back production of metallurgical coal for use in steel manufacturing.
Coal companies have slowed production from Wyoming to Australia.
Coal jobs are among the highest paying in many rural U.S. communities, potentially creating a dire economic ripple effect. In the past, coal companies have been more recession proof, but the average price per ton for Appalachian coal has fallen more than 35 percent since the summer.
At least 700 job cuts are likely in Tennessee and Montana by Swiss-based Glencore International AG, a commodities company.
Still, job losses have been most severe outside the United States.
Glencore's Bolivian subsidiary recently announced it will layoff several hundred people, triggering labor protests.
Thousands of miners who dig primarily for zinc in Bolivia either have been laid off or left their jobs in the Andes, the poorest region in South America's poorest country. In the mines around the small cities of Potosi and Oruro, the work force of roughly 25,000 miners and refiners has been cut roughly in half.
A controlling stake in Bolivia's largest mine, San Cristobal, has been put up for sale by Denver-based Apex Silver Mines Ltd., which is reorganizing under bankruptcy protection.
Local officials say workers may flood back into villages emptied during a two-year zinc boom that ended in 2007, or they may emigrate to Argentina in search of jobs.
Tens of thousands of mining jobs have been lost in recent months from South Africa to Jamaica as manufacturers shut down. U.S. industrial production plunged by double the amount analysts expected in December, capping the worst year for manufacturers since 2001.
"As little as three to six months ago, steel companies were running flat out around the world because China was making factories to ship goods to the rest of the Western world," Martyn said. "That process has come to a grinding halt."
There are no reliable employment numbers available for the mining industry globally because it spans such a broad geographic, economic and political spectrum, but it is clear that the number of jobs already lost is vast.
The fall off in copper, used in everything from housing to computers, has triggered thousands of layoffs in Peru, Arizona and New Mexico.
Aluminum producers like Alcoa have also slashed production, along with thousands of jobs. Those cuts have spilled over into mining.
"What all companies are doing that have bauxite and alumina facilities is they're basically retrenching," Argus Research analyst Bill Selesky said. "They may be running them at lower production levels now just to keep up with what's going on. And they won't rehire these people until they actually see an uptick in demand."
In a December address, Jamaican Prime Minister Bruce Golding announced a $6.7 million plan to boost tourism and small businesses to help offset the effects of the downturn in the bauxite-alumina industry.
Industry analysts speculate some signs of improvement could start appearing in the latter half of this year, though others say it could take up to two years.
"Companies still looking to cut costs are going to be cutting out high cost operations. A lot of that should be still to come," Barnard Jacobs Mellet analyst Patrick Chidley said.
BHP Billiton Ltd., the world's largest miner, is expected to reveal more about the state of production and exploration for the last quarter of 2008 on Wednesday, Australia time. The figures should be available late Tuesday in the United States.
Mr. Biscan is late or upsidedown on everything. We don't need to ask him anything. Rich is full of himself.
Never try to teach a pig to sing; it wastes your time, and it annoys the pig.