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Willfull deception in this case is really called securities fraud, and is quite punishable. No one has to prove it. The govt. would handle the matter, if they choose to do so.
Its very possible that the feds could/would persue this.
About 3 months ago, I had to dump my shares in a small texas oil co. (pink sheet stock). Fed came in and seized all of their cash & froze the assets, PENDING CRIMINAL INVESTIGATION.
Guess I really do not want to see that quite yet with this co. but we will see.
Their is a lot of shady stuff in past press releases.
"dove/aero deal has fallen apart" rumor certianly looks like a possibility... Share volume & price spread looking real bad.
Bet a retailer could not have sold 1 share today at the ask. Seen this before.
But the left out any reference to updates regarding problems with progress, or progress slower than expected.
Management honesty is not being reflected here at all.
I made a phone call a little while ago. Will be interesting to see if I even get a response. More calls will be made.
Thanks liketotravel for pointing this out. I apparently did not pay close enough attention to this release when it came out. And the end result.
How Smith could have ever wanted this guy for his ceo, after that fiasco, is hard to imagine. Unless Markonette was being used as a fall guy for something that Smith actually initiated.
Sarting to look like I gave DKGR to many chances. Excused them as new company fumbles.
No excuses from here on out. Need to start putting pressure on.
Markonette-Here is an example of how to correctly communicate, since you seem to be very lacking in this skill.
I removed names, so hopefully it will not get deleted. Likely someone from DKGR management will read it.
"CEO Issues Shareholder Update
Inc.'s (PINKSHEETS: ) CEO, issued a letter to shareholders today providing a general corporate update and outlining recent developments and key ongoing initiatives. The letter reads as follows:
Dear fellow shareholders,
Since taking on the leadership role with Sarissa just 6 months ago, I have had the opportunity to direct and oversee the acquisition of an outstanding mineral property for our company, the Nemegosenda carbonatite property, and to begin to formulate the strategy for an exploration and confirmation program. We have made phenomenal progress in this short time, effectively graduating from a very junior exploration company with exciting yet undeveloped potential, to a company with ownership of a world-class asset, one with a historic reserve base reported at 20 million tons of 0.47% Nb2O5 material, as outlined initially by Dominion Gulf Company.
Moving forward, the immediate goal will be to confirm and rapidly increase the size of the historic 20 million ton resource base at Nemegosenda. While we have no control over world markets or the value of resources, we do have control over the definition of those resources. To that end, a significantly larger resource base will be aggressively pursued through confirmation of the main ore zone; explorations for extensions of the main ore zone; more detailed analysis for possible additional values in uranium, tantalum and rare earth elements; exploration on the East Zones to further define the known niobium occurrences there; as well as exploration on some of the under-explored areas of our property. Fortunately, we happen to be living in a day and age when we are able to apply modern exploration and analysis techniques to the property that may not have been available to the geologists working for Gulf Minerals approximately 50 years ago when Nemegosenda was first explored.
Leading the charge on this front, we have been fortunate to attract some top-notch geological talent to the Board of Directors to assist us in analyzing the historic data, and in planning and implementing ongoing exploration activities: Dr. Cam Cheriton, a Harvard University educated Economic Geologist with a vast knowledge of the geology of Northern Ontario; and Alan Hawke, a seasoned exploration geologist with outstanding credentials both in mineral exploration and in mine building.
In March we began the process of independently assessing the historic geological work done on the property and developing an exploration plan to bring the deposit into NI 43-101 compliance. The results of that independent assessment confirmed that, "based on a comparison of the Dominion Gulf and OGS [Ontario Geological Survey] historical work done to date... is detailed and of high quality." Further, "The detailed work of the OGS in the 1970s and 80s has largely confirmed the interpretations and the historical exploration work of Parsons and the Dominion Gulf Company."
Alan Hawke has begun the process of having the extensive database of geological information that we have digitized, including the data from the drill logs of more than 60 holes comprising some 35,000 feet of drilling. This will allow us to generate a fairly complete 3-dimensional model of the main ore zone, allowing us to very specifically target the drilling we need in order both to confirm and to expand on this zone. Once the data is in electronic form we will have a geological consulting firm translate it into a 3-dimensional model. The combination of all this data into one easily-managed model should greatly assist us in our ongoing exploration and development of Nemegosenda, both in targeting and in economizing our overall exploration expenditures.
In recent days and weeks, the Company has had a crew working at the site on road rehabilitation. The crew has completed a 600 meter drill path from one of the ancillary lumber roads into the Main D Zone and work is continuing on the existing network of lumber roads to upgrade them to allow heavy equipment to be delivered to the site. Additionally, Sarissa has received verbal information from a local source that entered and followed the 580-foot adit in August of 2007 to the end and has reported that it is dry and in good shape for rehabilitation, an assessment that will next endeavour to confirm.
With respect to the Company's financial footing, we have recently retained the services of an auditing firm to audit the consolidated financial statements of Sarissa Resources in accordance with Generally Accepted Accounting Principals (GAAP) and to provide the Company's Board of Directors with an opinion on them in accordance with the standards of the Public Company Accounting Oversight Board (United States), and we are currently in the midst of that process. This will be another step in our progress toward improving the company's corporate and listing structure.
As far as financing the Company's growth is concerned, the Company's management team is committed to accessing capital in a responsible manner having recently completed a few small private placements of restricted shares to raise the necessary funds to complete these early stages of our evolution. Furthermore, we are committed to continue to balance our capital requirements with our desire to maintain a reasonable share structure through judicious placement activities. All told, after accounting for recent private placements and share issuances in which 14,250,000 shares were allocated, the Company's fully diluted capital structure is comprised of 740,116,058 common shares outstanding, of which 264,030,000 are restricted.
In summation, the vast scale of this exciting exploration target requires a professional approach to determine the ultimate extent of the deposits, and both I and the rest of the management team are motivated by the potential of this project and look forward to reporting new results and developments as they occur. We are excited about the potential that lies ahead and thank you for your patience, loyalty and your continued support as we move forward. We can only hope that the next 6 months will be as exciting and productive as the first 6 have been and we will continue to communicate regularly on our progress as we strive to reach our goals"
Rock on SRSR.
Hello mkt screwed. We appear to be on the same wave length. About 1 hour ago, I started doing some DD on this guy. I intend to take a back door, bottom up approach. Am going to try to get info. from co-workers/ other aquaintances. Not posted info. by Smith or other cohert/insider type people.
Do not know what I can find, and it will take some time, because I have other issues to deal with also, but no news from this guy is really starting to get me.
Of course, if we get a reasonable news release SOON, then I will drop a RELENTLESS vendetta.
Stock price while he was interem ceo at Titan certianly was less than stellar. New ceo, (Toth), seems to be getting a lot more done.
Nice update. Like it...
More DD needed.
Hey fellow hurting comrades. I live in the bay area, so MAYBE I could go down to the docks and ask the employees if they have seen any explorer 500's lately. And we also need someone to cover the Panama canal. Ask the crew members as the ships come thru the same question. But we also need to cover L.A., N.Y, & San Diego.
I am starting to think that this will be the only way we will obtain recent info.
Getting P*^%#&sed.
you may watch for the uptick if you like, but I will wait for the confirmed uptrend based on lots more than 1 tick up.
Neal, read a few posts, and do your DD. Trying to pick bottoms can be like catching a falling knife.
Now, having said that, Trade yesterday, and so far today, looks like someone is supporting .oo3
6 buys on nice volume this morning, and only one small sell.
Come on dkgr, GIVE US SOME NEWS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Sorry show-da-money, do not have a link, but if you go to yahoo and run a search on Niobium mining in china, you will find lots of information.
Yes, I certianly have. And the opposite also. Been investing for 14 years now & made over 400 trades last year alone. Price to me is king. And yes, manipulation is sometimes evident, but you can never depend on when manipulation will end. So, to me price means everything. A down trend is a down trend, no matter how you rationalize it.
I presently have a few shares short in a big board retailer that announced reduced earnings expectations after I went short. Stock price even got downgraded by a couple of analyst's. Stock price then jumped up $5. Am I covering my position because someone is running a short squeeze. No. I try not let false manipulation force me out of positions. And will not do so here with SRSR either.
But I will not buy more untill the price enters a confirmed uptrend. I will not throw good money after bad, because for right now at least, KNOW ONE really knows which direction this thing is going in the future.
cutting, did you do that to the stock price?? Damn, If I was a nice guy or a charity, I could really get you guys in at bargian prices.
Well, regardless of all of the positive posts here, facts are facts. The share price closed lower today than yesterdays close. So what does that say about todays news release??
I stated in an earlier post that my interest in this stock is diminishing. No nightroads, I am NOT a basher, as it looks like I am being accused of. I AM a conserned shareholder. My TA tells me that the share price has been dropping day after day for the last 2 weeks. That is not a positive. I am stating facts.
I do however stand to be corrected regarding a statement that I made earlier today regarding China being the largest producer of Niobium. It WAS incorrect. However, China likely has the largest undeveloped Niobium resourses. I did check a few records on this. I really do not understand why they need to look at resourses in Canada, when they can develop what they have, and probably faster than SRSR can even become 43-101 compliant.
Wow, 7 buys now, and not one sell. Last one for 10,000 = $30 worth of stock.
Certianly smells like wait & see, OR price so depressed that even the mm's can't take it any lower.
Side note- Gotta be carefull of what I say. Just got deleted from another board. Accused of being a basher for a stock that I own, and had stated so in a prior post.
Good luck longs. I'm still keeping my fingers crossed on this one.
Prove to me that Scott was/is completely aware of this guys past.
Certianly looks like the share price just loves this latest news release, correct.
Do you think that the Chinese are not at least keeping an eye on protecting their best interest.
I happen to own shares of a canadian JV with gold production. About 1 year ago, they also announced Chinese involvement, and the share price has now dropped about 25%. Most likely you could explain this also??
Likely about 2 years from now, give or take a year, IF ever.
Hey guys, ?, why would the chinese want to get REALLY get involved with Canadian niobium. They already have a lock on the market as the largest producer. China is also a very large country, and likely have ALL that they will EVER need.
They may get involved to discourage production, not to assist it.
Sorry for the negative, but my interest in srsr is dropping quite rapidly.
Hold fast to dreams, for if dreams die, life is a broken winged bird that cannot fly
I "am" holding fast to my dreams, and it is creating a life that is a broken winged bird that cannot fly.
Never seen an investing environment as bad as this in 14+ years of trading.
SRSR is just one more example. I bought a meaningfull amount with the intention of holding for at least 1-2 years, with a cost avg. of .036
But starting to look like it could require a lot more than this before anything truely meaningfull comes out of this one.
Well, bottom line is that I may need to revert back to my old habit of "flipping". At least I am able to lock in a few profits occasionally by trading this way.
Right on target!!
It is a fact that mining was done at this site in the past. The prior drill results ARE factual and apparently where confirmed by the CAD govt. many years ago. It is evident that there is enough to START MINING. This is what will bring in cash flow. Drilling repetitive holes is a complete waste of money. Start mining, then drill for expansion. SRSR should be able to get a little cash to start at least a small operation based on the evidence that they already have.
To me, it is crazy to spend time, (is money), and lots of cash, to drill holes in the ground, when the previous reports STATE that the goods exist.
Personally, I would trust reports from 30-50 years ago more than ANY information given in this era of business screwing as many people as possible, for their own gain.
Great post silverstreak. What you stated is pretty much my reason for buying more shares last week. I was going to post something like your current viewpoint, but you worded it better than I could have. My guess is that the door is really quite open for drake as a turn key operation. The processing mill looks to be "affordably" portable. My best guess is that there WILL be more opportunities for similar ventures. Gotta start with 1 mill, then 2, then 3, ect.
That's how you grow a business the smart way.
Argonath, I enjoy and respect your posts as well. Hope you keep up the good work.
mastercraft, my "guess" is that 1.45 oz. T. is good anywhere. Just depends on how many tons.
I capitulated and raised my price to the ask. Now filled for more.
Been cost averaging down on this one for 2 years now. Little more just helps lower my avg. One more bounce like this one and I will be green.
More strong hands & positive releases needed.
Thanks cutting for your post regarding the blog.
P.S.- Bob 2
Looks like MM is not interested in selling to retailers at a better price than the occasional order going thru at bid .0042..., and then back to the ask at .0045
I have an order in for (another) 150,000 at .0043 but can not even get a partial fill.
Is everyone waiting for the report to be announced THIS week..
Looks to me as if it will be to late, or to early, after the expected report.
Not much action on the board this morning. Anyone have any other opinions regarding what is going on this morning???
Increased holdings by 40% today at the bid, and NOT a small lot. Moved the bid from .0036 to .0037, at least for now.
Good enough test for me. Actions speak a thousand words.
Does this info. tell you anything??
Been in this one for over 2 years now, and holding strong.
Mining permits could take some time, but my 'BEST GUESS' is that the process would be easier in GA than in many other states.
I will give it more time to play out.
Thanks ataglance2.. I re-entered a couple of hours ago. with a pretty tight stop. My fibs show lower for the next level, 1.07200, so my start & end points are set wider. I started with a 4 hour chart.
Certianly looks down, just when is question.
OK, but the real point here is that they need to START DIGGING somewhere. I have been a fairly large shareholder for a long time now, (since early 06), and, like others on this board, am running low on patience. I could have put the money to better use in LOTS of other mining stocks....
Interesting post, thinman.
Makes me wonder why dkgr did not persue the copper & silver on the AZ lease.
Possibly mgmt. is waiting for lower prices so they can maybe get some kind of "corporate" tax break if they lose money ???
ataglance, great work & appreciated. Just found these boards yesterday. I trade the fx & was in the usdchf (sold), from friday. Exited a few hours ago for nice trade. Your 1.09000 call was right on track and a great call. But now the old low of 1.08855 has been replaced with 1.08844. Uncharted waters.
Whats your opinion/ta telling you now??
thanks in advance,
from stkjunky converted to fxjunky.
Thanks theomax for the info.
Maybe something good will come out of this after all.
Been holding it for a long time now.
Added 100,000s. today. Been in dkgr for about 1 1/2 yrs now & been in and out of the money a couple of times. New to this board, but not new to Drake. Usually trade the bigger stuff, but have 4 pink sheet stocks in my portfolio. Feel OK about what management is trying to put together, thus, a little more in the bank. At least they are trying. Better than you can say about lots of these pinkies.
Anyone have any thoughts regarding the marketmakers spread on this stock??
bid .014-ask .038 (no attempt at all to sell shares at any kind of fair price). I have never seen a bid/ask this wide!!!
Looks to me as though this is a rip off attempt.
Legislation needed to relieve these people from power!!!!
Based on the activity on this board, and lack of public information by management, I am starting to feel as if the company has filed bankrupcy, and I am the only one that is not aware of it!!! Or is it "no news is good news".
Well, guess its time to try to buy more at close to the current last trade, (.0014). This will be my third cost avg. down over the last 1 1/2 yrs., but OH WELL.
In it for the long haul on these penny stocks, so whoever is out there trying to suck in shares at .0014 can forget about getting all that hit the market, because I am going to get a few more.
Rap about Z2 is not very positive, but with oil at $95 and going higher, with no forseeable meaningfull downside in sight, this company should be able to turn a profit and show some shareholder value before to long!!!