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Just to add to the confusion -- reading the second section -- doesn't it say we keep all glcc shares as free traders, and get an equivalent to .10 or .112 x our glcc shares in a corresponding number of the buying companies shares. That would be in addition to the glcc shares. It could just be their poor wording skills, but if you break it down sentence by sentence that is what it looks like it COULD be saying.
No, it's good, just sarcing back. But actually is 300.
hokifan38, White Pages lists 300 Carolina Hernandez in the US.
Weathervane, I think the large amount (over 450 m) of shares described as being in friendly/tight hands by the company will prevent any hostile takeover. Also consider, many longs will not sell either.. GLTY LC
Bigshow01, Welcome to the SRSR Family. Don't feel bad about not contributing right away, you are joining a lot of us "READERS", and some of us don't know enough of mining operations to do anything but ask what we hope are intelligent questions.I am solidly in the read group. Fortunately, there are several members with excellent DD skills, and deep mining knowledge to help educate us. And a good company for them to contact. I feel this is a long term play of at least 6 months, more likely a year. GLTY LC
No, just got some more though.
Nice post. Notice the power plants. 4 X 225 Mercs. Honda makes a 225 that would fit very nicely I think. When you go international, how much more clout does the Honda corp name have than the Merc corp with prospective customers? Especially government security type agencies. GLTA LC
Nice work.
RvR, Horse drawn buggy was somewhat expected. Didn't expect the three legged horse. GLTA LC
Yes, you are. The CEO recognized your name from emails,and is busy getting his hands dirty building boats. What's the problem. Everybody call later. GLTA LC
Good morning all from sunny Florida.
TR, It seemed like the creator of the Hawk report could have put about three extra sentences in his recommendation section outlining how he saw the need for the drill holes in each area to be proved out. Something in the order of --- we rec X number of holes, at an average depth of (?)feet, for a total of (Y) feet, be drilled in zone d. He had to have done that breakdown to get the total footage, why not publish a general description of that work. That would have done a lot to reduce the guesswork on the board by giving those that are capable of comming up with those estimates some real base points to start from. Costs could then be more accurately projected. GLTA LC
Another point that I don't believe has been addresses that could temper the boat/gas cost worries is in the ownership/operation costs of luxury boats. Anyone who has worked around a marina knows that a large percentage of the "nice" boats are registerd to companies. A few customers (or congressmen) a year on a lobbiing trip for future business, and you can write everything, (purchase, dockage, maintenance expenses, fuel, entertainment, and lodging,) off as business expenses. One friend had a Donzi, and a 35 foot high performance with twin v8s that performed like Latitudes's. His gas bill on weekends exceeded my paycheck. Sparkplugs on the HP were special plugs that cost over $16/plug. They got changed 2 to 4 times a year, at $225 + labor, a crack. No problem for them though, charged it to the company. He would bring down business clients and associates, give them a 70 plus mph ride, and a fun weekend, and end up with a good contract that paid for it all. There is more market out there than you think. GLTA LC
Go to the Latitude website, click on "boats", and count the engine covers across the stern. They are using up to FOUR motors. When you go to that many engines, and prop them for speed (lotsa pitch), you aren't going to see enough difference between four 300's and four 225's to worry about. Remember, most of these aren't going to be in interantional races, they just have to beat the faster boats on the home bay, lake, or river. You don't go out and cruise at 70 for extended periods either. We will be fine with Honda. Honda dealers nationwide that don't have a high performance boat in their offering inventory will now be able to offer this option, and still get their sales/warrantee contract $$ from Honda. It opens up the whole Honda service area. GLTA LC
clear $$$$$ to invest.
No, the problem we have is no dry powder! Put it all in 1.1M more shares Monday. It will go up on the right news. Just go fishing and relax. I've got to cut some grass. GLTA LC
what boats?? What molds??
cashmachine, I have a question. Does the number of shareholders include each of us that have book name listings in the accts at the various brokerages, or is it given as one listing in that brokerages' name for all accts? The only individual shareholders counted might be those that have certificates actually listed in their names. It was indicated that the divies were distributed as a lump to the various brokerages to distribute to their clients by the brokerages per share breakdown. Was that xxx-million shares to Scottrade as one shareholder, or did they have a count of how many accts ST had. Many shareholders have multiple accts, so it seems that the number of shareholders listed is quit possibly only a fraction of the real number, or at best a distorted figure of the actual group. It would be nice to know how the tally is formed. LC
Page 9 covers the big items pretty well. I think that documentation is going to probably be well organized, and thus easy to audit. Its the smaller pay outs, incidental expense, and other unknowns that are usually the problem, IMO. The auditor wants all the expenses to be documented, even down to the office coffee & filters bought in 2005, 2006, and 2007. Hopefully not that bad, but you get my point, its detailed, and thorough.
Thats Good for us too.
I hope you are correct, but the slip up on the 2005 inclusion is going to cost some time. If they actually identified that problem, and worked on it from the start, your prediction could be the closest. Lets hope so.
I also. Auditors want every question answered to their satisfaction, and every transaction to fit with the next one. We just don't know how many twists and turns they are having to navigate. Remember, when you are running a company, your first thoughts are not about keeping a nice paper trail for the auditors convenience.
yes, up to that long was one person's opinion, based on their experience in the banking industry. The six months should have started back in April though. But, even if half correct, that would still push the completion into July or August.
True, the question now is how long will the audit actually take. Many differing opinions on that timetable. And no one knows the complexity in this situation. Makes any prediction attempt kind of a crap shoot.
ok, That's me, Mr July, 2009. thanks.
I hope you don't have an ex girlfriend named June. Wives get touchy about those.
Cash, can I be the July guy? Please. How many post of that being the month are required to qualify for the title?? Line for Aug starts at the rear.
Good Post!
Howard, Good morning. Is that a good reason to invest in Maloxx stock? All of those paranoids getting hyper, and jumping ship will need lots of ulcer releif. All of my funds are tied up in other stocks, all HOT of course, so I'm stuck with my core. Might need the Maloxx myself. LOL . I am beginning to think we will have more than a few days to load up on cheapies though. That would be perfect, Flip the others, make millions, and buy more of this, and also more of the Canadian one. GLTY LC
Impatience of the masses. Some figure the 30th date was either met, or we were being lied to, and will bail. AF being delaid for logical reason has no bearing on their logic. Co is still the same excellent investment it was, will possibly just take longer than we had hoped. Poor day is .0001's available, and no powder. GLTA LC
check PMs
I'm still dreaming about $2 / share. You say 6, and there goes my nights sleep. Oh well, theres always tomorrow night.
But TR, I probably won't be around in 20 years. I want my $6 this year.
Mariner, Thanks for the reply. It was pretty much everything I was wondering about.I read the link on the Niobec mine and then tried to transfer that to our operation, but got lost somewhere. The containerized option sounds like the way to go, has capacity for volume variances without the big investment in rail extentions. The boats(1000 footers) Dave steered up and down the lakes carried the iron ore pellets you mentioned. They hauled east from the mines at the west end of the lakes. I guess I somehow missed the posts discussing the shipping. I'm familiar with the Dundalk Marine Terminal in Baltimore, but hadn't thought of it for our use.
The Niobec site has the processing building located over the mine shaft, so everything is inside, I think. If we are spread over a larger area, we could have some winter problems, but I doubt it. What about the other metals when they are mixed in? Is seperation at the different refining stages easy? Or are they pretty much zoned seperate becaused of the way they are deposited in the ground?
I download the link to my favorites, and will go back over it more thoroughly. The progress in the cancer front is comming so fast that the FDA will have to modify its testing to get these cures in the field quicker. Those types of innactions are not acceptable. Wonder how much of the competitors stock he owns. Thanks again LC
OilCan61, I'm back. Interesting read. It appears that they come away from the property with a finished product seperated at whatever purity the customer requires. How much more of this could we produce per day, with the more modern equipment available now? It should certainly equal their output.
I tried to estimate what our hauling needs will be, using the Niobec mine's table-1 outputs. Kinda rough, but here goes.
How many lbs of finished product will we produce per week? It looks like they processed 1,060,000 mtons in 2006. At 6lbs(from somewhere in the recesses of my mind) of niobium/ton of processed materials, that should have yeilded about 176,666 lbs of product/yr, or 3,397 lbs/week.( Thats $84,925 /week or $4,416,000/yr). That figure looks too low. It appears to be a process that can go on year round, too. The process is quit complex, which usually translates into extra time consumption. But having to haul only the finished product is much more profitable, IMO.
One 18 wheeler hauls 80,000 lbs us, 40 ustons or roughly 36 mtons. (About $2,000,000 @ $25/lb.) So that 3397lbs, or even twice that amount (6800 lbs), should be shipable in a much smaller truck on a weekly, or monthly basis. It doesn't look like we will need to use a heavy shipping option like the train. This doesn't get all of our ore out of the ground in 20 yrs, so I suspect I have something plugged in that is incorrect. Check it out, and tell me where I'm off base. I could be in the Sahara Rain Forest for all I know. Wouldn't be the first time. Its 1 am, going to bed, have to get up early tomorrow afternoon. GLTA LC
OilCan61, Thanks for the link. Gonna be reading for a while I think. That calls for more coffee. One Q. already answered on the first page about the onsite processing option. Gonna go read. Thanks again. Larry
Mariner 78, Enjoyed your informative post. Generated a few questions for me and one comment. My son shipped for Interlake until this year, and they always closed the locks at Sue ST Marie?? on Jan 15 and opened them on April 1, if I remember correctly. If we are on either side, going to the other, that causes a problem. But if we use a north american company to handle our product will we use the ships, (assuming they were located on the seaway or the lakes), or just use the train directly to the processor?
Can we mine in winter months? Construction workers still function all winter. These aren't your everyday backhoes that they will use, and last nights freeze won't even give them a second thought. Transportation could be a problem.
I know this sounds very basic, but I haven't gotten an answer here yet; do we mine and ship bulk product like a coal mine, or is there some basic processing/sorting done at the mine site. A lot of difference in tonnage. My mining experience is limited to digging crawspaces under houses, and looking for fish bait in the back yard, so please be tollerant. THX LC
They certainly should find it easier to complete the process this time, but I wonder if any of the shells we've been bouncing around would be usable to satisfy the chinese requirements. Reminds me of one of the games at the carnivals. Which cup is the bean under?
Portwood215, is this going to require another Beleze company being formed, or are we beyond that step. I don't know which shell the real company is under anymore. LC