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It's meaningless unless it is put in accountable form, meaning a PR or letter to share holders. As demonstrated by the continued decline in the share price. You suggested/questioned that they could be lying, not me. I did not say anything even remotely like that.
Web sites can be used as the greatest form of scaming ever known to the financial industry. If you would like, I will copy and paste several for examples.
No, I do not think srsr is attempting to scam using their web site. But if the company has something to tell share holders, it is not the correct place to do so...
It's not in a PR...
Did you ask them why this action was not taken 20 days ago????
Unfortunately, they need to get this drilling program started SOON, and PR'd, or we will be buying this at .006
This slow/steady burn down in share price is going to take it's toll on the true investors.
They also need to forget about zone E, and drilling under the lake for now. Get zone D to 43-101 compliance, THEN mine, THEN expand.
I think that's what the MM's and many CEO'S are trying to do. Since their are so few pinkie's presently out there with an uptrending chart pattern. By the way, MMTE IS in an uptrending pattern.
"should" "Until then these PRs are still worded like any other penny stock out there"
Solution to problem-Drive all other penny stocks into oblivion, then Joe can use any wording he chooses.
Ultimate outcome-Would drive MMTE price to where we would like to see it, since whatever money would be left in pinkie land would come to MMTE.
"the day is soon they can pay for the costs with the income of the oil and gas"
Thats the key. Fortunately, our Mr. Overcash is an accountant, and as such, should be on top of this quite well.
I have been investing in the stock market for 15 yrs. now, and have had plenty of winners, and losers. I feel good about this one.
I just bought 250K more. Reverse split, Ha, not soon any way.
Dilution will stop at some point, then we go up.
This is now my largest holding, and I DO NOT want to have to flip it, but time will tell. Would prefer to hold for 1 yr.
Interesting morning. Price is now attempting to break the 100% fib retracement level that is setting at .0365
I will not add at this time. Want to get a better feel for the closeing price.
150% fib level WAS strong support, and it folded to hard.
Closed below .0448 (161.80% fib. support level).
Overall market really sucked today. Really crazy stuff going on everywhere I look.
Holding, but ???
Dilution.
Ha, looks like we scared someone into not selling any more shares today. But never thought that we would see an .05 close.
Could drop a little next week, and then will add some more.
Man, if I could only have days like today and yesterday more often!!!! My biggest holding hitting on all cylinders, + back in GSPG. Portfolio poised to run wild right now. Life is good.
Looking good now.
43-101 should be the catalyst to drive higher on. If it is not out within 5-7 days, then I think we go lower. People do not like missed estimated release dates.
Yes, I do check your blog occasionally, but my fib. levels run so close to your highs & lows. So I just mostly use them.
Today so far, we have bounced off of the 150% level perfectly, at .0432, (except for 1 minor overshoot blip below).
I would really like to see this close above the 161.80% at .0448, but think it is unlikely. BUT there is still 45 minutes left.
These high volume, high float issues really tend to lend themselves well to TA.
A close above .0432 will be a good start. If it breaks, I buy more lower.
OK, back in for a few at .044
Good point seeker. But this selling looks like dumping to me. Not that I believe that it will have any longer term impact. The shares added as a percent of the O/S is small, so the fire will probably not burn for long.
Only other thing of consern would be insider trading based on info. not yet available to us in the 43-101.
Someone asked why the company did not add a little fluff regarding the 43-101 in the last PR? It is highly unlikely that the company would try to fluff a 43-101. Its hard numbers and facts. Lots of liability in fluffing something like this.
It's just a guess, but I would say that they needed extra cash to complete the recent land & claim rights aquisitions.
Or at one time, there was discussion on this board regarding a need to re-route a state road. Could have something to do with that.
Something unexpected needed to be addressed quickly.
The drilling I think was already paid/accounted for.
Yes, I see. So much for .048 resistance. Maybe .049???
Good morning darby. Little action here I see. Going to be interesting to see if .048 now turns into resistance. (I kind of suspect that it will.) But I think that we will know soon.
Darby, you have a great little blog started. This should be checked regularly by newbie's, and appreciated.
I am still holding off on GSPG. Cutting pointed out dilution, and I always worry about this. Looks like it could have been the driver here.
Can anyone tell me what the fully diluted value of this is??
Someone a few weeks ago worked up the numbers, and I am thinking that it was .006
Or am I incorrect, and it was .0006??
Yes, very professionally handled.
Hello again darby. Good to see you here. We got a nice close today. I added 50% to my position mid day today. This can break to the up side pretty hard when it moves, as you can see by the charts. I am in it for the long haul, barring any future unforseeable problems. But I have a good feeling about this one.
Not a lot of posting on this board, but maybe flying under the radar is a good thing.
Good luck to all here.
MM,s are the scum of the earth. Even if we have dry powder to put to work in a positive situation, I'ts like fighting using our muskets against their gatling guns, uzies & ak47's.
Goldbrick, the uptick rule meant that you could not short sell unless the price was moving up. You could not short if the last trade was at the bid, or if the bid/ask was falling. In other words, the price had to be moving up. The MM,S controlled this by indicating with a green arrow pointing up, meaning that it was ok to short sell. And a red arrow pointed down indicated no shorting allowed.
I have short sold many in the past.
Darby, I know of none better. Would be great to see it on your blog. I have been holding this for a while now, and am down a little, but am going to cost avg more. Likely a little more today, and then see how it goes. I got dry powder left.
GLTY
Right on target, seadoc. Russia has been buying gold ever since the start of the run from $300. After all, they are only acting in a capitalist/democratic way and see PROFIT in this. Who prompted/supported democracy in Russia. Yes, we will play this game with you, America. HA HA HA, while the U.S. is desperately trying to keep the dollar king.
Darby, their reserves are great. they have been drilling for a long time at 4 locations. Will be open pit mining to start with. Proven managment team. No bank ties. Low price per oz. extraction. The list just goes on and on for this one. Listen to their most recent conference call, and check out their web site. These guys now what they are doing.
Only red flag is the tailings permit. They will get it one way, or the other. Probably just have to have the correct amount of cash in hand when shaking hands, given the way things work in Mexico.
To me, it is also fundamentally supurb. Only question is their tailings permit that they do not yet have. But the ceo is giving this a non issue rating. He is very confident that they will have it soon.
Very true.
Yes, they certianly are. I have a considerable # of shares of mmte, but since it is only moving in .0001 increments right now, it is not hurting me to badly. I am holding this one strong.
QMNM, got lucky and dumped my shares a couple of weeks ago. Looking to buy back in at .0065 or better. Dilution is key with it. Fair value should be around .006 after this current round of dilution is finished, (I think).
I am not thinking negatively about GSPG. It is out performing lots of other energy & PM stocks. But it is not performing positively enough for me quite yet. Well, since we are technically off topic here, I want to throw this one at you. Take a look at GORO. Looks set to explode at any time within the next 4-5 months.
I am in the same situation when it comes to gold spot charts. I only look at the spot 2-3 times a day. My call was based on the $xau, that I suspected was a fake out at the 50% fib level. I could also see extremely important political events, (the ones that we have in play today), unfolding. And my other 2 micro cap gold plays setting up a bottoming formation early last week was the third equation.
Russia-U.S. relationships are key at the moment, with Packistan a close second. Russia has been taking a bullying from the U.S. for quite some time now, and I suspect that they are now completely fed up with it. They will defend their interests in the manner of their choosing. As evidenced by the Georga situation.
Hi darby. I am still out of GSPG, but it is getting tempting, HOWEVER, I am currently having a problem with what I am seeing today, and yesterday. GSPG has de-coupled from the gold trend. I am holding shares in 2 other gold plays. One is a CAD company in production, and the other is technically still an explorer in Mexico. And will be in production in Jan-Feb of 2009. Both are performing well for the last 2 days.
I find it interesting that both of these company,s have ABSOLUTELY no ties to U.S. banking, and do not have any mining interest,s in the U.S. and are following the price of gold correctly. While GSPG pps seems to be getting gagged. Looks like manipulation to me. Watching GSPG pps reminds me of the spoiled brat syndrome. The rest of the market is getting killed, so we can't have any candy either.
Got a question for you. How long do I have to wait before I can pound my chest on my $775-$800 gold bottom call?? I was a day or 2 ahead of EVERYONE on it. Politics is in control of gold again.
But on the dull side, UPDV is going no where. Shld. be up over last 2 days.
I am losing my faith in this Mgmt. NO Excuse for not filing on time. The 10Q should have been filed 4-5 day's ago. This kind of lack of consideration for share holders is not a positive for me. TRASH THE CFO.
"just hurting for free positive cash flow just like 75% of every other company out there" Hell, if they somehow manage to get any positive free cash flow, they would just squander it away uselessly anyway. Share holders rarely see it, unless they really hit mega bucks.
I,ll wait untill we get to .0014. Then it may be undervalued. Based on the trend today, could hit before the close.
DILUTION is the name for htog. Maybe we get lucky with updv and see some debit reduction from htog situation.
My account is negative in this stock, but will not put good money after bad, unless I can cost avg. down in a BIG way.
Fortunately not out enough to Kill me.
Thank you jmichn1.
"they're just getting started and whoever is positioned now will reap the benefits over the years to come".
Agree with this. Have to have some exposure to the biggest emerging market. Do not leave out Brazil. They have the commodities & cheap labor. U.S. markets totally in the toilet right now, generally speaking.
Added this for diversity. Could be a real winner, but can the American consumer hold up and keep supporting imports????
Bought a few shares yesterday for a starter position. Will add if the performance is looking solid over the next month. Business plan looks great, but can they execute???
Hey guy's. Faber has aquired stock OPTIONS with a per share PAR value of .001 that he can exercise at any time between now and 2013. He does NOT presently own 80,000,000 shares, because he has not yet exercised the right to purchase these shares. Probably aquired as CEO performance compensation, or as a part of his contract with GSPG.
He can exercise his options, or any part of them, in the future, but has to pay .0112 per share... for up to 80,000,000 shares. Not .001 as some here are thinking. Or he can sell the options at the fair market value, at any time in the future, and never exercise the purchase of any shares. This is not dilutive, because the shares that the options cover are already a part of the O/S. The company essentially had to aquire the shares at a per share cost of .0012, unless they cook the books on the cost, like so many company's got caught doing in the last 6-8 years, to give to Mr. Faber as CEO compensation. He will likely be exercising some of these options from time to time over the next 4 years, and selling shares into the open market. And when the expiration date comes close, he will then have to exercise the remaining options, and hold, or sell the shares.
The 1.81M. that he sold today was likely shares that he purchased himself, and now that he has the options, he has taken profit on the shares that he likely purchased out of pocket. He now has no real need to own direct shares, since he has such low priced options that he has no risk to his present personal finances.