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What assets? The assets they have right now have very very little low value, evidenced by the low PPS. Selling them would be more disastrous than the conversion. Even with conversions, the share structure is still very good with many of the shareholders holding large positions to where the float can be controlled. Selling them would leave SAGD with NOTHING. What would SAGD have then that would increase shareholder value? The value here is POTENTIAL. You wont know the value of that potential until it is fully evaluated, which they are doing now. Management has done a good job at evaluating POTENTIAL. Case in point: One of the company's holding was dropped because that they could not negotiate control of the property. They evaluated POTENTIAL, and the POTENTIAL was not there. So they dropped it. Losses as such were cut. You write well but your reasoning is FLAWED. IMHO
There were 2 rounds of Asher financing. Look at the filings. My guess is that this/was the second round of conversion. The second fininancing occurred 2 months or so after the first. Look at this as some sort of bridge (albeit expensive) financing. Hopefully no more
Hey folks, chill a little. Remember there were 2 ASHER loans. I think the second one conversion is this month. Looks like it started. IMO of course
Insiders dont have a lot of stock. Very little in fact. This is either the conversion with Asher selling, market makers playing games, or someone who just sold their holdings. who knows
Insiders dont have a lot of stock. Very little in fact. This is either the conversion with Asher selling, market makers playing games, or someone who just sold their holdings. who knows
Dont think it will go that low.
Agreed. And there is another conversion around the corner. I am just hoping the structure will still be very decent, and it looks like it will be. I just hope there is no more Asher financing. If no more, we still stand to have a good chance of making lots of money.
The conversion guarantees them a 45% discount, but not a 45% profit. If they sell the stock,their profit will not be 45%. It will be much lower as it will bring down the price that they can get for the stock. If they hang unto most of their stock and wait for appreciation, they are guaranteed much much more if the stock goes to the pennies. The conversion will get them about 25-27% ownership of the outstanding stock. And then of course there is another conversion couple of months later
In any event, SAGD needs to have some sort of results from their activities in order for the price to go up. The stock is not for the flippers. You need to be a long-term holder on this one. Hopefully they dont have anymore substantial expenses that will require more financing of the Asher variety. And based on their filings, they have made very good movements towards cost minimizing.
I am hoping for very good news from any of there holdings. We all might get lucky on this one.
Crossing finger and toes
You are right. At these prices and at 55% of the price, the $47,000 note will convert to approximately 35,000,000 shares. That still leaves a SS that is very good.
Did you read the terms of conversion? There is a limit to how much they can covert as a percentage of outstanding shares.
That would not make sense. You want to minimize dilution, so if you have great news, you should release immediately.
I dont think there will be any new operatinal announcements soon. Its winter, filing is already done. There maybe financing news. I dont think so however and unless SAGD "strikes gold/silver." I believe there will be conversion and I am crossing my fingers that it will be the last time this will occur. Even if there is conversion, SS still quite very good and much much better than the vast majority of junior mining stocks. If we can get a small run, then maybe dilution will not occur. You never know with these stocks.
go do some dd and find out yourself
Is anyone going to respond as to why SAGD PHONES are not working? Same with that other company. Not good to have heads stuck in the sand. Tried calling to do some DD, but no use when you can't even get hold of MGT.
Both companies have the same Colombian address.
AND
Both companies' telephone numbers are DISCONNECTED.
Anyone have been able to get hold of Ray? Or anyone with a new phone number? THIS THING'S STARTING TO SMELL REALLY FISHY
Looking over the latest 10Q, the latest Asher funding was almost certainly needed IMHO. They didn't have the cash to pay their bills. The cash burn rate it seems will be about $50,000 per qtr. They only had $33K left at the end of September.
With no revenues to speak of, they needed to pay the bills. Hence the Asher funding. The $33k they had was only good for 2 months. Hence the Asher funding.
Perhaps, the phone is not working because maybe the phone bill was not paid?
Is anyone else bothered by this, that SAGD phone is disconnected, both regular and fax lines?
SAGD corporate phone number is down. Does anybody have any idea as to why?
Agree with your salient post. It does concern me that mgt really has no risk in this. And it sometimes makes me wonder if it is just a payroll for them given it is really risk free for them. They have very little stock ownership. Any thoughts anyone? I have shares but not to the extent that other here do. And I'm really really crossing my fingers and toes for this one to come through in a big way for all stakeholders, including management.
you've been in the stock since June and you don't know who they are or their relationshi with sAGD?
and how do you know if they don't have gold?
i've been lurking for a long time.
summer 2013 would be TOO LATE..would probably result in Asher dilution..although given the low OS at this point, total OS with Asher dilution would still be low...even late Spring would not be good.
Of course tell everyone..but what answer did you expect to get it... of course its going to be "ambiguous." It happens in all levels of corporate communication. In fact, the word ambiguous is not even the right word...more like GENERALIZED. Tone of your postings, now that you've indicated that it was a poor investment on your part, hints of frustration as it seemed to have been done trying to time the announcements....
what did you expect for him to tell you without letting other shareholders in on it? get real
if a filing is done of them buying stock,and in quantities that are substantive, this goes through the roof
it will trade sideways and/or lower until week before EOM due to tax selling and maybe bump up with tax sellers buying back in and/or new investors jumping in. with good news, all bets are off. one concern that i have is why mgt own so little of the stock. unless they are quietly accumulating at these levels. hoping for the best
So how often would you like to have them send a PR to get the masses roused up?
So how often do you want them to announce news? In the corporate world,where I've been a financial analyst, things take time. How do you know Baltimore has no value? Flippers get desperate when announcements dont come soon enough
these types of announcements fall in the category of fluff type announcements, and done often enough, one starts to wonder as such. you are asking for a blow-by-blow on what the company is doing? better to have a meaty, substantive announcement. how much do you know about the mining industry? asher financing is a concern obviously and its undoubtedly in the minds of SAGD people. but at this point all that can be done is speculate. pray for the best. i am, and hopefully sagd will be fortright, good or bad
So exactly what kind of timelines would you like to see? Agreements need to be formulated, attorneys need to be consulted with (and back and forth), financial analysts need to be consulted with, mining consultants need to be consulted with...so how long do you think these take before an announcement since August..?
that's a long time...and isn't end of march? so it's actually 4 months..in any event...that's still a long time
wow...ubelievable...busting out my cash now...how many are they going to sell? calendars are dime a dozen...just another way of luring people to buy the stock
Stock could very well not move until after last week or after December. Tax season.
You do a disservice to everyone when you rant and rave when you dont receive news that you speculated on. which he/she did
what have you said other than obvious observations and GENERALIZATIONS that anyone that does not enough DD can concluded?
How are they posting facts? Read their posts. They are just speculatings. Worlds like expect, should...etc. These are just guessing words. READ...READ...read all the posts and you will know that people have posted saying news will be released when their is news to be released.
You expect management to release news just for you? Maybe you bought speculating that their will be actually news...
I did not say that it was going to be converted to 166mm shares. I was just curious to know if anyone knew what the 166mm shares allocation was for. Am not a lawyer. We all want to make good investment decisions, but it is of no use if we stuck our heads in the sand so to speak. 5mm shares coversion is nothing. The OS is still really low even with this potential conversion and believe me I wish SAGD would shoot to the moon. And it has that potential. SAGD strikes gold or silver, and we all will make money, some will be very rich.
4.9% percent is correct. But if you read on, Asher can waive this cap by notifying mgt 61 days ahead of time, or somewhere around there.
The first one is due I believe in March. Not 100% sure. Have to go back to financials. There is a provision I believe that limits the conversion to 4.99% of oustanding shares which is not very much. However Asher if I read it right, has the option of waiving this limit if they notify SAGD within 60 days or so. SAGD needs to find a way of paying this debt off quickly. This is not an issue I believe if major news is release which will send this stock to the moon. They can then sell stock to pay off the debt. Hoping for the best as I am a shareholder too, but a small holder compared to the rest of you