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Thanks tiesto
I'm still holding MMT, and some CEN (I will admit to taking some profits on that one) ..... Cheers to you my friend, CEN was a great call!
Summertime may very well be wonderful buying opportunity... for many beaten down stocks (including AMY)
Good luck to you!
-Dan
Carl... nice analysis, but just one thing: I thought that the .80-$1.00 was calced at a lower copper price than $4?
-Dan
Thank you for that very revealing message Blairman.
I will save it for the future.
-Dan
T, I was lightening up on this since march, so I'm out with just over 295k in hand from it... I will now just wait for a while. (I may toss a little more into ORT).
If I'm wrong and it runs... so be it.
My gut tells me that the PFS and the Kemetco work will not move this stock. But dilution... ANY dilution... will pound it. This market is very unforgiving to Jr's.
Larry would do himself and his shareholders well if he were to just STFU, stop giving interviews every fifteen minutes, and concentrate on achieving some sensible goals for the project on a timely basis.
-Dan
2guys: you just touched upon the things that really put me over on the decision to bail. I do not think that anyone will sign a takeoff agreement with Larry/Amy at this point. Even when the pre-feas comes out I think they will wait...probably until a bankable feasibility study gets completed (Which I don't see happening until 2013) Heck, even Larry said he did not see signing a take-off agreement until a later stage!
And the whole Kemetco LMD work... it sounds nice on paper, but I'm a bit concerned that Larry seems to be more interested in making batteries himself, then just being the "lowest cost producer of EMM in the world". Making LMD is great, but I think this idea of becoming a battery manufacturer is foolishness. AMY needs to stick to providing raw materials, not finished goods... so I see some of the Kemetco work as a waste of money (and time)...almost as bad as spending money on an expanded drilling program when we already have identified 100+ years of material.
The money is running out, and Larry is still fiddling
-Dan
I'm sure I will be back.... but not until the project has "de-risked Larry"
I think the pre-feas will be ok... not great, on the operating cost side. However, I think that the new Capex number will be a bit of a shock to many folks.
We may see a pop when it comes out.. but I think it may prove to do the opposite. I also am not convinced that the prefeas is as imminent as many folks seem to think.
-Dan
Yes, 750k to zero.
I think that the AMY project is FANTASTIC, but Larry is a moron, with absolutely no management skills.
These guys are going to need cash soon.... and I'm sure that they will manage to do it at the worst time (say August).
Does anyone really think that Larry will manage to get a bankable feasibility study completed before the end of this year? NFW. Thus, I see dilution, LOTS and LOTS of dilution.
I may buy back in later this year, when we are trading in the teens.
Then again... I could be wrong... but I'd rather not take that risk with this fool at the helm.
It all sounds great Tim, but if when run out of cash which could be soon (Prefeas, More Drilling, Salaries, Fullfeas, etc) then we may be looking at a doozy of a dilution.
The more time I have spent researching companies, the more I have come to realize that the most important thing for any company is not the "story" or the "product".... IT IS THE MANAGEMENT.
I may be wrong, but I'm out of this for now. I will wait to see what unfolds. I'd rather chase a little when they finally get their act together, then get pounded down again on Larrys poor management skills.
-Dan
Hard to say...
If they move back down down, it may just be that the trader who was in charge of the selling took a vacation last week (LOL).
But if they stay put, I think when/if we get up to their ask price it will be very important to watch if they just sell a few and let the price rise, or once again show that they have a mountain of shares that they want to dump at that price.
-Dan
SOP on the TSX trolley
It is almost as bad as OTC here in the US... and at times it is as bad as the Pinkys.
Just take a look at the BS they have dooing with one of my other plays: ORT.to
-Dan
I'm sure he had a choice:
1) Resign
or
2) We call on one of the mexican drug cartels and tell them that you are actually an undercover narc.
Easy choice
-Dan
You forgot to add:
HOLD HAT IN HAND
BEND KNEES TO THE GROUND
BEG FOR "Mo Money"
-Dan
Glen, was that 20,000.... or 200,000 @ .395?
You have to keep up with the team young man!
(Just kidding... I'm glad to hear you came aboard)
-Dan
I have not seen anything either...
It may take a few days for them to get their hands around the situation and make a rational judgment.
-Dan
Not exaclty Glen.... hehehe
This is a great price right now if you have the dry powder for it.
If it gets pounded down into the 20's tomorrow, I may have to sell some other stuff and add a bit more.
-Dan
Afer we got off the phone I added 50k more myself. An even 600k now.
Go big or go home..... with empty pockets!
I hope we are right.
-Dan
Never happen.... in her mind shoes are a better investment than stocks.... not to mention clothes, electronics, cars, property overseas..... Should I continue?
LOL
-Dan
Well, to me it looks like VERT (who is probably in charge of selling a large block, or feeding dilution shares) sets up shop on the ask showing 5k for sale, but has many more waiting to dump at that level. Yesterday he was at .017, today he is at .016.
Anyone who wants to sell has to put in an ask under VERT. With the market sell-off the other day I guessing that several folks had margin calls (even though SIOR is not marginable, people might sell this to cover a shortfall created elsewhere) thus a lot of cheap big blocks have shown up today, and I think will again tomorrow.
Just my 1.4 cents
-Dan
With the way my wife spends money, even if SIOR went to $10.00 I'd still be in the poor house!
LOL!
-Dan
Gulp... thanks for the 150k @ .014 !
Thanks Dee.
I think when any news hits... SIOR will say bye-bye to the single digit pennies VERY quickly, and any buys you make, $0.014, $0.017 ... even $.02+ will seem like a dream
-Dan
ORT.to/EORBF.pk
Tim, we are now up to 4.5 million traded IN THE FIRST HOUR.
-Dan
ORT.to/EORBF.pk
It is not a great start for the pps (based on some hopeful predictions)... but I have been watching the volume. As of 10am it was over 3.4 million traded which is sweet. First comes the volume... then comes the higher pps.
This one will need a bit of patience due to all the warrants/shorting/trading halt etc. etc...
But I think we could see double digits before 2013.
-Dan
As a long term holder of 750k shares which I expect to hold for at least the next 2-3 years for multi dollar per share gains and not for a few months getting pennies over the option strike price, I think we will have to agree to disagree
-Dan
You seem to be basing your opinion about the dilution on what you feel is a "fair" profit. Whereas I am looking at absolutes of the loss of profit: Why am I giving 10% of my upside to management on top of salaries? We can all debate if THAT is "fair".
-Dan
Actually I think he is right on target.
If the future value of the company goes to $1 billion...
You would own $100 million less of it as a result of a 10% dilution... no matter when that dilution took place... at 50 cents a share or at $5 a share.
-Dan
ORT.to/EORBF
Odd that the the pinky did 6x normal volume yesterday. (Though between you me and Tim (value1008) I think we were about half of the overall volume).... Yet today volume is under 10k for the day?
You would have thought that such good news would have created some increased interest in buying on the pink side while the canadian issue is still being held?
-Dan
That is exactly what I was thinking.
I am starting to wonder what is really going on here. Is the report going to be as wonderful as we have been led to think?
-Dan
Larry is "very pleased with the progress of our contractors"
I think Larry needs a good crack in the head with a bat (a bat with spikes)
Anyone want to argue that we will not get a final report until May... at best?
-Dan
SE, it sounds like you fit the description of what I have seen happening:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73615062
-Dan
I think you guys are being a bit too nice here.
If Tetra Tech (Wardrop) made a habit of delivering product several months beyond contract THEY WOULD BE OUT OF BUSINESS.
This is just Larry's inability to manage, it is as simple as that.
-Dan
Note: we still have no confirmation that it will be 6 weeks late (again)... We may still see it next week, and I will be the frist to say "Good job Larry on delivering when promised"
If we get news next week that the pre-feas will be another 6 (SIX!!!) weeks late, I don't want to hear anything about how wonderful Larry is, and how it is not his fault.
When you hire a third party to do work for you, you agree on 1) the work to be done (scope), 2) the price you will pay, and 3) when you will get the product.
We were told last time that it was not AMY's fault, that all the required info had been provided, but the delay was due to integration of new "vendor information".
What will the excuse be this time?
If Larry had even the slightest clue, he would have been on the phone screaming at these guys last time, and made sure that the new date they gave him was HARD... and then he should have added two weeks to that date, before putting out a PR to his investors!
How does he expect investors to get comfortable with him having the brain capacity to build-out a $100+ million mine when he can't even get a handle on a hard date for the pre-feas?!?!?!?
-Dan
40 cents
I hope your funds have freed up Tim.
If the pre-feas does not come out on monday, you should be able to add shares that start with a 3.
If we don't see it by Thursday, we may test that recent 31 cent low.
-Dan
Dee, be patient.
I'm sure we still have some holders that will jump ship if they don't hear any news in the next month or two.
The quiet accumulation will continue, and when/if news hits... things will become very entertaining.
-Dan
Dee, I actually think the recent run-up has more to do with simple supply and demand for shares.
Many folks (myself included) have added to already substantial positions in the low .01's (I'm talking about folks that hold millions of shares, not the 10k share flippers). When we had that run up into 3 cents, the mo-mo guys jumped on... they have since bailed out, and many other impatient folks have also moved on. Those who see good value here just waited for the pps to drop down, and then they continued to add.
I think we are now at the stage where any newcomer who wants to have a position of any size, easily spikes the price.
Things are tightening up nicely.
-Dan
Excellent summary geo
I agree 100%
This should be added as a yellow sticky note by the moderators
-Dan
I guessing that is the same shares thast show up on the pinky... so 270k on the entire company is NOTHING.
(Note: I'm not complaining... I hate shorts!)
There are only 276k shares short on the pink side, I did not see any on the TO. I would expect that the majority of those (if not all) are just the book keeping balances of the MM's. There is not really a short position to speak of in this stock.
TF, some possibilities:
- folks who know of AMY already have full positions
- future dilution keeps new people away
- wait for pre-feas to officially lower the risk before buying
- possible delays in the pre-feas may make for a better entry point
- Production is 24+ months away, price may not move much for a while... so buy Apple now, buy AMY later
I'm sure we could come up with a dozen more...
-Dan
Goldman must be shorting the markets big time:
http://www.cnbc.com/id/46808343
-Dan