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Who are the 5 individual recipients?
Very complicated Q report with shares of stock flying out the door as fast as they can print them! Let me see if I have this right:
$7100 in cash on hand (basically nothing)
$5.8 Million O&G assets (highly questionable if not false)
$13.2 Million in liabilities (debt)
$352K in Administrative expenses(Volk's Salary)Pinkman got the other $16K...
"Through March 31, 2013, the Company has accumulated a deficit during the exploration stage of $33,522,484"
Great Stock, why don't I own it anymore?
Well how do you expect a 3 way merger to happen?
I have yet to get any idea from Ray on financing or JV... You?
"Abundant assets and exceptional management" I agree with however, they lack funds... The only way to avoid dilution is by proving the mineral worth on the Baltimore and GB2 claims. If they can do this then a JV is likely.
The situation you describe is exactly why Ray needs to JV. Otherwise, a R/S or A/S increase are his ONLY other options. The bottom line is that Ray needs money, whether it comes Asher or a JV to even process the tailings let alone complete any Phase1 surveying or mine development. That's the reality.
That's wishful thinking... This one is done... Never coming back!
Next time do some really simple DD and figure it out yourself.... :P you can even use Yahoo Finance to read SAGD PR's!
Doesn't matter anymore...
Gold and Silver found on the surface is nothing but a good thing... this was very easy and simplified sample testing. We're not even looking at core samples. Question is, will the costs of gold and silver extraction make this a profitable venture for SAGD? Can Ray get the extra sampling done with out going back to Asher? At least there are steps in the right direction to bring a private investment or JV.
I think Ray is going to JV with the Hoffman's...
Sorry, I don't have PM ...
First qtr report due any day now...
Yeah... a downward run maybe...
Ray is fully reporting SAGD with regular updates every quarter and 10K's... What's lacking is good news in all of those reports. MOU's don't mean squat, it's a peek at what might happen. Let's say Ray decides to go ahead and lease/purchase the Kelly Project and then sits on it for a year or so... what good is that? We need good news... If nothing else he ought to be releasing the mineral potential of the sites he committing money towards... What data is available convincing him that the sites he's already leased have potential? Historical? All of those phase 1 survey /sampling initiatives need to be completed. Suppossedly, they started last September, we're shut down over the winter due to weather and now what is the status? That's what we need, a status update on the surveying. I've told that to Ray. I've had several conversations with him over teh past month. We'll see what happens.
If no good news comes out then this will go down... If more dilution occurs then this goes down... if RS is going to happen this goes down... Only thing that's going to make this pop is great news from Baltimore or Lucky Boy GB2 mines... Charts and patterns don't mean squat with out good news... When O/S reaches 50% of A/S I'm bailing... The fact is Ray needs money, bad. If Ray needs to convert shares for operating cash he will. He's been doing it conservatively but he's doing it. there's only so much more he can do with out splitting.
It's only an illusion that the share price is triple zeros! The A/S hasn't really tripled, the debt holders who financed VM for Volk don't really want their money back since the loans really aren't in default....
I heard a rumor Volk has been in default of his VM179 loan for a long time now... IMO no judge will rule in his favor... This is done, stick a fork in it!
I bet those debt hiders are part of the litigation trying to get the well back since Volk can't make the payments... I bet he is in default of those loans... Volk will lose his stake in VM.
I'm not buying this POS!
I feel really bad for all of the people who lost a ton of money on this stock by buying into Volk's load of crap.
Better to leave with something rather than nothing although it's not much...
Like I've said before, I have no opinion on SAGD at this point. I have had several long conversations with Ray. This could go the distance or not, they are lacking funds and revenue but they have little overhead. We're waiting for the Phase 1 surveying/sampling results to come out. Equity financing is the only income right now. Ray does not want to continue on this path with Asher. He would glady do a JV if the terms were in his favor. He seems like a good guy and has a great management team who are basically donating their time. Everyone do their own DD, do what is right for you but please don't step in the Bull$hit!
The truth will come out but people hyping a JV with no signs of one isn't good for anyone. People who do not do their DD will buy into that hype only to have the floor drop when its not true and the folks hyping a JV will be long gone... Now, I'm not saying a JV is not possible but guys who show up out of no where all of the sudden, who are "experts" on Ray's comapny, hyping a JV with zero supporting data isn't good for anyone.
There isn't one. Just day traders trying to manip the stock...
And just who are you hearing that from?
How long have those 2 been following SAGD? Less than a month and they know everything? Don't think so...
Please provide proof to your statement: "JV still in the works..." Says who? Where do you get your info?
Ray cannot comment on anything regarding the possibility of a JV or no JV. When you say "THE" it implies that there "IS" a JV for him no to comment on when in fact we don't know if there is a JV at all. A JV is something they are open to but it is not definitive that there currently "IS" one in development.
Imagine that! But... but... but.. waht about the merger? What about the Virgin acquisition? I thought tripling the A/S was a GOOD thing! How can this be?
Who could have ever seen this coming? I wonder ....
Good results from the Phase 1 surveying will yield more than enough funding.
SAGD dumped any and all activity in Columbia like 6 months ago. Still maintain an office but that's it for now. Things may change however.
Sit tight, relax... Email Ray if you want. Things will happen when they happen. This is not a day flipper or short yet play. Ray and team aren't doing this for $hits and giggles... Tremendous experience here. Read up on SEC filings and website... A watched pot never boils.
Sticky that !
Of course they do, I think they're half joking when they say it though... Chances are, this will drop back to .0011. No news, no activity = no reason to bounce other than chart players and speculators stirring up interest.
So I see you're coming around now... I hope you didn't lose too much.
Well that must mean that they're acquiring a company or leasing another well or merging with another company or selling debt or bringing some leadership from Montecito or Virgin oil or or or or...
Lots of swirl and hype, this should touch 12's again , if not 11's... When the dust settles.
I would hardly call it pump job... It was pretty pathetic.