I have a feeling we aren't going to hear a thing, unless 2C happens to pick something up. After the 24th, we'll learn everything we've been wondering.

RL

Any idea where they are with my share divvy?

Not surprising. I figure there'll be a lot of flipping at $.08, $.12 and $.20.

RL

The high will be at least $.09. It broke $.08 already today. Tomorrow should be better as the info sinks in. The 24th will be WILD.

RL

The island with the terrorist issues is Mindinao. Not to be mistaken for Mindoro, which is a big rock with native population and very little else.

RL

The best deposits are the ones that are hard to access. The Mindoro deposit is basically a cliff that is a huge chunk of ore that just needs to be broken up and carted off. However, there is no road to that location, the geography is as nasty as it gets, and there is no deep water loading facility.

I believe the deposit they're going after first is either smaller and/or lower grade than the two 'biggies' that are hard to get to.

RL

Bob has responded to all but one email I sent him (and that one was sent when he was in Las Vegas negotiating the JV).

The bottom line is that if you think it's a scam, just sell and stop worrying about it. If, like me you don't, we'll get though this period and hit profitability on the other side.

The great thing about this board was that if there was nothing to say, no one said anything. Over the last couple of weeks, people are just chiming in with useless posts just to fill space.

RL

With my holdings worth down to $213.00, there's not much to talk about. The only reason I didn't sell a few months ago is because it's just not enough money to worry about anymore....

RL

Am I just missing something? The Auditors letter on the website (page 2 of the PDF) ends with this statement:

"...the results...(are) in conformity with accounting principles generally accepted in the United States of America."

This means that they conform to US GAAP. Yamana conforms to GAAP as well (differences between US and Canadian GAAP are not material). Therefore, again unless I'm missing something, they should be able to make the same claims for their properties.

The amounts of minerals are classified based on very strict criteria--you can't call it 'proven and probable' unless it meets these criteria, therefore there is a valuation basis.

If I'm missing something, please tell me. It seems very straightforward to me.

Thanks
RL

I just looked up Yamana Gold's annual report. On Page 79, they list their Mineral Properties under Capital Assets. These are GAAP audited (by Deloitte and Touche) finanials.

RL

I'm agruing against it.

Why can't a consolidated financial statement be audited under GAAP rules?

If you look at any Fortune 500 company's annual report you will see consolidated financial statements that are audited with GAAP rules.

RL

What leads you to believe that the financials won't be GAAP financials?

From the Feb 13 PR:
"In the past, being a non reporting company, Aurus Corp did not require audited statements. Now that it intends to become a fully reporting company, its financial statements will be audited and duly filed."

Audited means GAAP. There is no other standard.
What leads you to believe that they will not be audited under GAAP rules?

RL

PS. IF they aren't GAAP qualified, we have a BIG problem, but I have no reason to believe that they won't be.

"We are iron miners"

That is the first thing you read on the CWRN website. We need to remember that these guys created this company to mine iron, not to play Pink Sheet games. Do we want the JV to happen quickly, yes. Do we want as much transparancy as possible, yes. Would I rather they focus on getting the job done rather than putting together PRs that only amount to fluff? NO!

We may want them to communicate differently, we may want them to be a reporting company, we may want lots of different things, but the bottom line is that these guys are here to mine iron, not hold our hands. If we want to invest, great. If not, fine.

I am way underwater, but am very confident that I will get a good return on my investment. Why? Because when I have a question, I simply email Bob, and he answers it. I asked him if I could post his answers, and he said that he would rather I don't, so I don't. I don't bother him with speculation or long winded scenarios to comment on, I just ask short, specific questions and he answers usually within 24 hours. The only reason that I don't buy more is because I'm waiting for other investments to pay off before I can free up some cash (You hear that, AURC?).

I've only invested in Pinks for about a year, but I've definitely noticed a complete lack of patience on behalf of MOST pink investors who post on forums. Give these guys a break and relax. They're iron miners, let them do their thing.

RL

Du Hast was made for fast driving. Especially at night.

Makes me wish I spoke German...

RL

Volume

At least the volume picked up dramatically today. If the company has to dump 600MM shares, they may be almost done. 438MM in one day is a nice jump.

RL

Then why not a simple PR stating that the financials are on track? The video stated end of February to be complete (not necessarily filed, etc), but that wasn't an official AURC statement. There has been no word for quite some time from AURC. Why the silence when there is no need for it?

RL

It sounds like both. We're not going with the first person in line (bad) but there are two more companies in line (good) so we're going with one of them.

Bullet, can you tell us where the road building equipment is currently? Is it in the Philippines, Mexico?

Thanks
RL

Agreed. Unfortunately, a 50g ingot is worth about $1100.

I'd still like to have one!

RL

I was thinking about that myself. They should make the 50g ingots available for direct purchase. They probably wouldn't make much profit from them (since presumeably the central bank must buy them directly from AURC), but they'd be great PR.

RL

I have invested in a total of 3 pink sheet stocks since discovering them about a year ago. So far I'm down over 90%. However...after a year of learning (and holding--stupid me!), I am bullish that CWRN will make me green overall. I bought 3.5MM at $.0003 awhile back and am just waiting for it to pop.

Everything I've seen and read tells me that its just a matter of time. Now it looks like that 'time' is right around the corner. Waiting, watching, and learning is about to pay off. Best of luck to all.

RL

Question about Audited Financials.

I have a questions about the AFs. What exactly will be covered. I assume that the audit will cover 2006. However, the production did not ramp up until January of 2007.

Based on this ASSUMPION, I am looking forward to solid numbers in terms of OS count, and pre ramp-up revenues, production, etc, but not expecting big revenue/profit numbers until after 1q 2007.

Are my assumptions reasonable? What are others on this board expecting from the financials?

RL

Video Notes

2Create and Mrs. 2 Create,

Thanks for the video. Great work. The beginning was a bit difficult to understand with people talking in Russian, and clinking their teacups, but it got much easier after the first few minutes.

To my surprise, I only have a few questions...

1. With regards to the 'dams' (10 minutes into the video): I assume that the dams are the tailings (big enough to drive over). Are the dams considered an ecological problem if they are not processed? Is Aurus leveraging this to get access to the cleanup budgets mentioned?

2. Why haven't we heard about the value of the iron? If the tailings are about 50% iron, that's 40 million tons (if memory serves). Since it is the first thing to be removed, why aren't they shouting about it?

3. At 36:21, 'Technology related accumulation' is mentioned as one of Krong's two basic assets. What does technology related accumulation mean? Is this the extraction technology?

4. Can you point me to a post that tells how this trip came about?

Again, this is awesome stuff. Thank you!!

RL

I agree that the stock is undervalued. My point was that if we try to come up with a valuation, we should look to similar (small, unproven pinks) companies for comparison rather than bluechip companies.

I am not well aquainted with pinks, and you are correct about my implication that pinks trade at a discount to big board stocks. I'm very curious to do some dd on stocks that sell at a similar p/e or p/s to stocks on Amex or higher exchanges.

No one wants this stock to rise more than me, and I would love to believe that its worth several dollars. However, I don't see similar companies (pinks with many broken--or long delayed--promises) valued that way.

Best of luck to all
RL

JLP, your examples are the biggest gold companies in the world, listed on major exchanges with multiple mines in multiple countries and many, many years of audited financials.

A new, small company that is not on the AMEX (or higher) will trade at a discount to the best in class of the industry.

I DO believe very strongly that audited financials will be the event that will cause AURC to finally break out. However, let's be realistic about how high is up.

Reserves are a key valuation measure for gold companies and on the positive side, we have plenty of reserves!

RL

Like always, very little until audited financials are public.

RL

RSM Top Audit Question

RSM was the auditor before. However, there was an issue regarding RSM NOT being an approved auditor in the eyes of the SEC. Has something changed? How can AURC become fully reporting if RSM is their auditor?

This was discussed about 6 mos ago.

RL

Odd Volume.

We did an average of over 100 million shares for about three days, then it just stopped. It's not enough for a major partner, but too much for individual investors. Any thought as to who is buying?

RL

Not at all hard to believe. Look at the history. The real question is...what will happen after it hits $.10/$.11? Based on history, it'll float back down to $.08 until more news or disappointment.

RL

For what it's worth, I think $.05 will be the bottom for this cycle. I called it on posts 24187 and 24903. If I wasn't way down, I'd consider getting in at this price.

However, I'm WAAAY too burnt to put any more $$ into this stock.

GLTA
RL

Upon what do you base your statement?

RL

This is some phenominal volume. Could such high volume be linked to a financing deal? Insiders buying it up? There's definitely SOMETHING going on, I'm just not sure what.

RL

I'm in for 3 million more shares. Which sounds impressive until you realize that it's $1,000 that I forgot I had in cash in my account.....

On the plus side, I like the volume lately, and the PPS hasn't hit $.0002 for any reasonable amount of time, so I'm thinking (hoping) $.0003 is the bottom. I have a chunk already invested, but I couldn't resist the supercheap shares.

The rainy season is over, so if it's gonna happen, it's gonna happen soon. At $1k, the risk is low and the upside is high.

On the negative side, the volume hasn't pushed the PPS up yet, which could mean that someone is dumping, and with a couple of billion shares still available to be authorized, I'm a bit nervous.


GLTA
RL

That is the exact reason that I've held this stock for so long. I always think the 'real' numbers are right around the corner.

Based on the past, here's what I believe will happen:
In 4.5 weeks, the share price will be around $.068 becuase they will have missed their 'next month' deadline.
In 6 weeks there will be a vague pr announcing that a dividend will be announced in one week. The stock will rise to around $.12.
After two weeks (with share price now around $.08) of wild speculation about the nature of the dividend and people dreaming about how much CASH they'll finally have as a payout for holding so long, the company will announce a small stock dividend. The share price will hit $.05, and the cycle of hoping will begin anew.

I REALLY hope I'm wrong. That's why I'm still holding. And holding...and holding.
RL

I think you can go very wrong between now and the end of February. Based on what I see, there is NOTHING to support the current PPS until the audited financials/production numbers come out. I will be shocked if this does not hit $.05 before then.

The funniest thing is that the same issue has been happening for almost a year now (when I first bought this stock). Ok, it's not funny, but if I don't laugh, I'll cry (my basis is $.23).

RL

Your second question answers your first.

RL

The tailings are from the Soviet era, when they were going after strategic metals (iron? uranium?) rather than precious metals. That's the basis of value for the company--here are tailings chock full of gold that were not a priority for the Soviet Union. Now that times have changed and things are going private, there's opportunity here.

RL

The worth depends on your capabilities. If you (or more importantly the government) own an old, obsolete mine and have no intention of starting (or can't start) the mine back up, it's just tying up dollars (or, in this case, rubles). If you are a mining company with unique talents/technologies that can take an obsolete mine and get more value out of it, then it's worth much more. My hope is that we are the latter and Russia has plenty of the former.

RL

That assumes that the company will never purchase new mines or enter into any JVs to remain viable for the long term. I think that is not a reasonable assumption, based on the recent activities.

RL

I was referring to post #24177, which I interpret to be 'oops, we meant 2007 projections' rather than 'oops, we weren't supposed to tell folks before the audit'.

RL

They corrected themselves (according to one poster) that the production numbers were actually projections for 2007, NOT current production numbers, as previously believed.

The audit will not happen until March of 07. What will keep the stock at its current levels for the next three months?

RL