Just trying to make a buck or two!
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RKYMNT4,
Before I answer your question, let me disclose that I am NOT a chart watcher. I rely on others to do that type of thing. My background is in manufacturing processes and heavy industrial equipment.
Ok, here is what I see. CGFI's timing is not the greatest. They paid off the bond, on time, and then the same day filed the S-8 stating they were placing 5 billion shares (of the 15 billion Allocated shares, "A/S") into the compensation plan for employees. They also expanded the list of individuals eligible for those shares. They weren't too clear about it, and if you didn't dig into the past documents, or understand fully what they were saying, it looked like they were increasing the A/S by 5 billion shares. (that would require a SEC filing and I did not see anything of the kind when I searched the SEC web page)
People were panicking. A lot of comments like WTF! another 5 billion! That was wrong.
Some of the other resident gurus here postulated that the market makers saw a chance to grab large blocks of stocks that were on stop loss orders and pushed the stock to the 6's so they could pounce. But, like I say I'm not a chart watcher, so I can only take their word for it.
There is a saying in trading, "buy on rumor, sell on news". I think that's what we have here. MM's buying on the rumor of an increase in A/S, and they will sell when the real information hits, or news of the mill approval hits.
I'm holding my shares. I have seen the management work their butts off to get mill approval. We are so close to that end, and profitability. I do not think the management would work so hard for a scam. And by the way they work for shares, not cash. That means, if the mill doesn't open, or if the PPS drops to nothing, they have worked for years for nothing!
That's my take on it Rocky, I hope it helps. GLTY!
67, you know I'll always have your back!
Things are moving fast, it can get kind of crazy for us light weight traders. We need to pull together or the big bad MM's will run all over us little guys!
Good things are coming, brother!
GLTA & go GOLD!
Mr. Guyer has been working for CGFI for several years. Recent activity in CGFI has increased. There has been other purchases of mining rights besides this one announced today.
In addition, there has been a great deal of interaction with Colorado DRMS.
I would assume that it has been consuming more or Mr. Guyer's time and attention.
The second part of that filing increases his compensation. (Which will be, and has been, paid in stock.)
http://www.sec.gov/Archives/edgar/data/1344394/000095012311059647/c18883e8vk.htm
CGFI just filed a S-8 earlier this week to set aside some of the A/S for compensation to him and to other employees of CGFI.
Here is the link to that:
http://www.sec.gov/Archives/edgar/data/1344394/000095012311058950/0000950123-11-058950-index.html
All this activity regarding the SEC filings indicates that CGFI is gearing up for the expected mill approval, IMHO.
If you don't know about that, read some of the posts here and go to CGFI's web page and it will show you the mill CGFI owns.
Hope this gives you some confidence that CGFI is a real company and not a scam deal.
I suggest you call first, I believe that you want to go to mill in Silverton, not the offices. I think they are working out of the mill offices for day to day operations. I'm not sure about that, just a guess, since they are doing repairs to the mill.
It will take me a little while to drive up there to pick you up AK! You should have called first!
CGFI shareholders? About 7000.
It means that the stock can't be sold or transferred to someone else for that period of time. It helps protect CGFI by making sure the stock is not dumped on the market before then.
Good Morning all! I'm not really awake, PST zone and all, just got up for a potty break, and going to get some more sleep! So if you don't mind watching the mill for a couple of hours, I'll check back in later.
Now while I'm napping, how about getting this puppy up around 8 or 9 today? I would like to have a warm and fuzzy feeling over the weekend!
Thanks. Keep the coffee warm for me!
TG,
Just keep an eye on the A/S. If it remains relatively constant, I'll be happy. As long as the Outstanding Shares don't jump too fast, I think we will do ok. It will increase somewhat, to pay management salaries,(that is what the last L8 was about) and after mill approval, some cash will be needed to pay for equipment to finalize the repairs, and start up expenses(fuel, etc).
I don't think shares going to management is too bad of a thing since they have a vested interest in getting the mill open. At the same time, mill approval should raise the PPS, making the necessary number of shares to be added to the float, lower since they are worth more.
I don't think the A/S will be increased at all.
But, that's only my opinion, and I certainly am not infallible!
Glad you liked it. Not trying to be hard on anyone, but my background is manufacturing processes. I'm not great at charts and analysis, as so many others here are. It is easy to forget the reality of a restart of a company like CGFI.
I just like to add the other side of the equation, when it exists!
Hang in there with us TG, IMHO this is going to work out for everyone.
GLTY, thanks for the good words!
You forgot shoes too!
Way too late for a prenuptial agreement! Married 34 years, to the same girl! She says it's time to get rich, I have her permission!
Why didn't you buy the Bruins instead? That would have been a GREAT investment!
I'm counting on that screen name! But I think my wife may have other plans for the money! I'll settle for "half empty pockets"!
Let the man eat his dinner in peace, for god sake! He works hard enough, he's earned some quiet time!
How about some desert, Jim?
Just joking "what"! Besides, did you see the size of Jim? Don't get between him and dinner!
GLTA!
IDK, but I wish I had $5 mil to invest right now.
Can't wait to find out, but I'll bet it's Lee Rice. (wild guess)
I still think your are smarter than the average Bull, phrantic!
You definitely are not a bear! Not even in a bear market!
Thanks, GLTY!
Better up side potential, that's for sure! I like the odds on WL!
Thanks Bundyelvis! I'm in this for the big ride! I always liked amusement park rides!
PFCG = $$$ & more $$$!
Ok, I suspect I'll be dumb for the rest of my life or until I make it to Hawaii!
(I guess they are 4 letter words) LOL!
Go Pacific Gold, or go home!
GLTY & thanks!
Oh great and noble ViewMaster, please translate "GeeWay" or "TazR"! This mainlander has no idea wtf that means!
I got the idea it is a good thing, but what does it translate into, besides $$$ ? Please enlighten me.
TIA,
MT Pockets.
The last time CGFI was at .67 was March 10, 2008. Since then, the mill has been under a "cease and desist" order, meaning it could not legally run. It goes without saying that a business that can't produce anything will not show a profit; it will not make money. So expecting it to maintain a price per share based on that level is unrealistic. In fact, the pps has been sub-penny since early June 2009.
Since then, CGFI has managed to acquire contracts for toll mining, negotiated leases for mining rights, and make marked advances in readying the mill for operation. This all while working under the intense scrutiny of the Colorado DRMS.
At this point in time, they have paid a substantial bond, on time, for securing the reopening of the mill. They have resolved over 80% (at last report) of the issues preventing the mill approval. The balance of the items are relatively minor and not insurmountable.
So if you are looking for a company to maintain a constant PPS over 3+ years under the same circumstances, then you have the wrong company.
If your looking for guaranteed returns on your investment, penny stocks are not for you. Consider a CD.
Anyone investing in a penny stock is taking a big risk. That risk is offset by the chances of great returns.
That is what CGFI offers, a potential for great returns.
The management of CGFI has done an outstanding job fighting to open this mill. Could they have performed better? Sure, no company is perfect. But they are getting the job done. They have not done all this work, clearly visible work, for a scam. Most of their compensation has been in stock. That means that if this company does not start up, if the value drops to zero, they get little or nothing. So, who is taking the bigger risk, them or us? Could you work for over 3 years without pay?
That, to me at least, is commitment, and that type of commitment is worth betting on!
Makes you wonder, why would you be interested in what a prediction was from that long ago? Things change, so do predictions. And if it was a $7 stock then, it isn't one right now. I don't think anyone is saying it is, either.
Jmo, glty.
Last one was April, so I think we should see it in late June, early July.
(As long as they are on time.)
"GREED IS GOOD"...Gordon Gecko
Just don't get caught with your hand in the cookie jar, or crumbs on your shirt!
Jk6672, I'm no expert. I have Scottrade "cash" account and have sold one stock and used the same funds to buy a second stock in the same day. As long as you don't sell within 3 days, your ok.
I understand that to do what you want to do you will need to have enough cash in your account to cover the new purchase/sale.
If I am wrong, please correct me.
Hope that helps, and doesn't confuse the situation.
GLTY
I bet that the most posted three letters are "LOL"! It seems to be the basis of their "expert" opinions.
It don't mean nuttin!
They like to live in the past, we look to the future.
Amazing how a little thing like a hockey game and everyone is taking sides and posting their opinions!
Good to hear from you vln420!
Now all we need is mill approval to counteract this small downturn in price!
Ok, since I'm from Vegas, how about you two place a few shares on the line to back up your teams?
I'll handle the action, for the vig of course!
Just a joke, hope you guys stay friends no matter who wins. (go beantown) oops did I say that?
Pacific is covering my bad luck on other stocks today! Glad I got in when I did!
Let's keep this going! Momentum, baby, momentum!
Go PCFG!
That 6 last night was an overreaction to a S8 that really was not anything big. You will see price return to previous levels in the next day or two.
As so many times in the past, Mr Young, you are right again.
That's my opinion!
It's not off topic to me MuseMan! An investor needs to understand the complete economic situation to be a informed investor! This is what makes this board so great, the depth of knowledge everyone brings to it and their willingness to share their opinions.
It all relates, so it's all good!
Glad to have you ScotiaNostra! See, ya hang around with a group of guys like us, you pick up questionable tendencies !
I'm pretty sure Pacific will be ahead of CGFI, but they both are worthy of a bet on success! GLTY!
Troger,
I think I saw your sponsor out looking for some 6's too. He seemed a bit crazed and itchy! I guess everybody has their limit! I'll call Betty Ford and arrange a double for both of you!
Hey while your out, wanna score me a taste too?
Good luck with the buy, if that's what you need!
(I'm still holding my sides I'm laughing so hard! Good to see the 8's didn't warp your sense of humor.)
Hey Troger, I hear that there is some 7's on the street! Do you need to call your sponsor? LOL
Remember, just say no!
MTP
You are right, TD! I did have you down. Just couldn't read my own scribble!
And while we are on the subject, the CGFI Flotilla has 285,548,362 admitted shares, plus the Armada's "boatloads". Great accumulation for only 40 penny traders!
Yes, Chips called it, I think, regarding the stops! I wouldn't hesitate to believe that this was a manipulation to grab a bunch of cheap shares. Let's face it, they can see the stop loss orders, so sell some shares cheap, drop the price along with news that seems questionable, and you have a perfect opportunity to get some booty! Damn stock pirates!
We know how to deal with them in the Armada! Keelhaul the suckers!
Remember, guys just don't panic! This is not the end of the world! It is an opportunity! We longs know how much energy, sweat & treasure has been put into this endeavor. CGFIA management is not going to screw it up at this point in the game.
I think that cool heads will win this game.
Just remember, the A/Sis like a credit limit. It doesn't mean you owe that much money, yet! It just means you can spend that much If you want to.
Good management will try and keep the O/S as low as they can, as compared to the A/S.
I think we have some pretty frugal management in CGFI.
Ciskid,
You are also correct. The trouble is, when anyone tries to read the filings, it's like reading Chinese! I usually need to reread it a few times just to get past the title! So they start to worry. It's common in penny stock. But you have the right idea, Ask if you don't know! There are a lot of smart people out there on the board and most of them will answer you. You just have to give them a chance to get up to speed on your question.
Thanks for the words of support, Ciskid! GLTY,