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Thanks paydirt, I hope we hear something before the next 10k
I got an email response from Christopher in answer to my email requesting an update on corporate activities.
Rest assured that we are not simply waiting for the price of phosphate to rise. We are currently evaluating and looking for additional opportunities, though I can't be specific at this time. I hope this helps assure you that the company isn't sitting idle, but is looking to move forward in order to provide value to our investors.
Regards,
Christopher Tsakok
CEO, Sterling Group Ventures Inc.
I bought a few...looks interesting
Got 10q fever but no cash for more shares...lol
This is the first time they've responded when I've used the "Contact" link on the website.
Christopher responded the same day.
I hope it’s a sign of things to come.
Found this source reporting Sterling earnings due Wednesday.
http://www.fredericknewspost.com/news/economy_and_business/business_topics/finance/data-points-economic-calendar/article_0db19625-b459-567a-9796-2e64983460ee.html
I sent an email through the Sterling website contact link and was very pleasantly surprised to get a quick response back from Christopher. It looks like he may be more responsive to shareholders than we’ve seen from Sterling in the past.
My email to him:
Rumor has it that Sterling\'s mining license was not renewed.
Please give an update if it is in your power.
His reply:
Please do not worry, there will be information on the subject coming in the 10q, which we expect to file on Wednesday. If you have further questions I will be happy to answer them.
10k this week? It would be nice to get some kind of additional corporate update to let us know what the heck is going on. I don't want to get my hopes up but with an over 50% fall of energy prices and with phosphate rock holding steady at $115, our lower production costs should make this much closer to production than many think.
I believe that your comments are very accurate Evil, IMO - the opinions you expressed are sound.
Morocco Phosphate Rock Price $115.00 USD/mt for Dec 2014.
That's four months in a row at $115!!!
https://ycharts.com/indicators/morocco_phosphate_rock_price
Mining costs have taken a big drop with falling oil. With the lower cost of oil and with phosphate holding steady it should make mining this resource much more feasible. I wonder if they're looking into other ways to reduce costs, other companies such as Arianne Phosphate seem to have been able to make steady progress throughout the past year.
Early Christmas?
It wouldn't make sense for the company to be selling while sitting on all that cash. Where are all these shares are coming from? could it be our StockVest buddy?
Excellent post Tom Orrow
member mark for you
The opposite of “Hype” is throwing cold water on anything positive accomplished by Sarissa. Creating a smoke screen of exaggerated half-truths is designed to dampen and discourage investor confidence. The idea is to maintain a low share price and cut-off the most inexpensive method of funding for the company. The days are numbered for this type of manipulation to be effective.
The thing that will raise the share price is completion of the milestones they’ve identified. That is unless they can find contractors willing to work for free. They will have to find ways to fund the progress and will either have to sell shares or go into debt to cover the cost of moving forward. How many shares they will have to sell depends on the share price, a lower share price means greater dilution as more shares will need be sold to meet the same objectives and it also means fewer projects can be completed. Selling at a higher share price means less dilution and more work completed. There are approximately 60 million shares left in the A.S. which will generate $60,000 per $0.001 s/p. If they can sell the shares at $0.025 that’s $1,500,000, if they sell them at $0.005 they only get $300,000.
But I’m sure you know that already
Agree 100% Alan, they've attempted to put a strangle hold on Sarissa's ability to fund its objectives by making any progress as expensive as they possibly can.
Keeping SRSR’s share price as low as possible is one of the goals of our competitors. They want to limit Scott and Dan’s ability to use the remaining A.S. for funding company objectives.
Sterling has $0.021 per share in cash. Thats more than twice the worth of the stock.
There's 75,730,000 shares outstanding and 1,612,814 cash.
The share price should be $0.021 without including the leases, permits, mine, buildings, roads, power lines, equipment...etc,etc,etc,etc,etc
The question now is how many more shares does the seller have?
Mike, Do you think yesterday’s selling was for write offs or is it too early for that?
Average volume 42k, todays volume 388k so far.
I wish this seller was gone.
LOL...Some are attempting to mitigate the effects of SRSR’s next run even before it happens. SRSR’s success is inevitable if they continue to follow thier stated plan.
I think your comments are entirely fair.
Good time to accunulate before the next milestones.
“When the facts change, I change my mind_What do you do, sir?”
Thanks for posting, encouraging news!!
Member mark for that!
IMO, the company Dan included, has altered its opinion regarding the need for audited financials. Audited financials weren’t a priority for the SOE and so, weren’t a priority for Sarissa while attempting to establish that relationship. That strategy doesn’t work going forward because most other investors aren’t willing to invest in a company that can’t produce them. John Maynard Keynes is often credited for the following quote which may be helpful to some of those finding it difficult comprehending Scott and Dan's change in strategy: “When the facts change, I change my mind. What do you do, sir?”
The fact that there are no sellers is a problem for anyone wanting to get Sarissa cheap before the next run.
It means people are unwilling to let go of their shares because they know what’s coming.
Alan, unregistered sales of SRSR shares seem to be a definite possibility, you seem to be on to something. SEC Charges Current and Former E*TRADE Subsidiaries With Improperly Selling Penny Stocks Through Unregistered Offerings
I beleive we'll find out one way or another soon with our uplisting.
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370543133526#.VDa9Yns4eup%5C
FOR IMMEDIATE RELEASE
2014-225
Washington D.C., Oct. 9, 2014 —
The Securities and Exchange Commission today announced an enforcement action against current and former brokerage subsidiaries of E*TRADE Financial Corporation that failed in their gatekeeper roles and improperly engaged in unregistered sales of microcap stocks on behalf of their customers.
An SEC investigation found that E*TRADE Securities and E*TRADE Capital Markets sold billions of penny stock shares for customers during a four-year period while ignoring red flags that the offerings were being conducted without an applicable exemption from the registration provisions of the federal securities laws. E*TRADE Securities remains an E*TRADE subsidiary while E*TRADE Capital Markets was sold earlier this year and is now called G1 Execution Services.
E*TRADE Securities and G1 Execution Services agreed to settle the SEC’s charges by paying back more than $1.5 million in disgorgement and prejudgment interest from commissions they earned on the improper sales. They also must pay a combined penalty of $1 million.
In addition to the enforcement action, the SEC staff today published a Risk Alert and FAQs to remind broker-dealers of their obligations when they engage in unregistered transactions on behalf of their customers.
“Broker-dealers serve an important gatekeeping function that helps prevent microcap fraud by taking measures to ensure that unregistered shares don’t reach the market if the registration rules aren’t being followed,” said Andrew J. Ceresney, Director of the SEC’s Division of Enforcement. “Many billions of unregistered shares passed through gates that E*TRADE should have closed, and we will hold firms accountable when improper trading occurs on their watch.”
According to the SEC’s order instituting a settled administrative proceeding, the failures by E*TRADE occurred periodically from March 2007 to April 2011. The securities laws generally require all offers and sales of securities to be registered with the SEC unless those offers and sales qualify for an exemption. When brokers facilitate an unregistered sales transaction on behalf of a customer, they must reasonably ensure that an exemption does indeed apply.
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370543133526#.VDa9Yns4eup%5C
Lol… I didn’t say it wasn’t a mutually beneficial relationship, I said that Scott hired Dan. "IMO"…You didn’t read my post…lol
Dan as President and CFO reports to Scott. Scott is CEO and Chairman of the Board.
I fully agree that it should prove to be a mutually beneficial relationship not just for Scott and Dan but for the shareholders as well, but let’s give credit where credit is due, Dan didn’t just stumble over a new ore body that just popped up 3 weeks ago, a lot of work went into this before he joined the company.
Last I knew Scott was running the company when Dan was hired and remains CEO and Chairman of the board. Are you saying that Dan forced Scott to hire him against his will…LoL. Suggesting that Scott as CEO did not hire Dan is pure fantasy, remember there were only two officers of the company at the time, Scott and Cam. As I said in my post Scott deserves credit for leading the company in acquiring the resource and moving the company forward to where they are today. The steps completed in the past were designed to move the company in the direction of opportunities they had available at the time. Some of those opportunities didn’t bear fruit but useful progress was made even in disappointment. Dan seems to have expertise in several areas the company is lacking, hopefully Scott’s latest strategy in bringing Dan aboard will be a successful one.
Scott’s been successful putting together an outstanding property. Scott’s been moving things forward to the best of his ability with a minimum of debt despite a lack of funding. The loss of Alan Hawke was more of a blow to the company than many give realize and IMO is directly responsible for many of the apparent fumbles since his passing. Sure Scott’s had his failures and his skills may be weaker in some areas than others and that has led some to some frustration. No one is perfect and no man is an island but Scott has been open to change. Scott has listened to shareholders and recently, and as suggested by the shareholders, he has hired Dan Byrnes as President, CFO, and Director of the company in an effort to move the company forward. Dan is making progress in the short time he’s been with the company and he’s begun to fix many of the issues raised by shareholders. I’m sure Dan would be the first to admit that his recent success wouldn’t be possible without first having the foundation laid by Scott and company over the years previous.
I never imagined they would be selling outside of China since China is an importer of fertilizer. The information from the website below is a little dated.
'Within China, phosphate rock consumption has grown significantly since 2003, at an estimated compound annual growth rate of 14%.
In addition, China consumes nearly all of its phosphate rock production, with very little in the way of imports or exports (though as stated above, they are a net exporter of DAP)."
http://www.sterlinggroupventures.com/consumption.html
We should be breaking above $0.02 soon, maybe this week if we're lucky.
$$$$Go SRSR
Agreed, we should be hearing something soon. This 10q will mark one year of care and maintenance for the property and mining operation. They are continuing to pay for the services of several key employees and the company is looking for ways to keep these employees and for them to earn their salary.
“The Company has continued the services of several key employees in China to review other mining properties and opportunities. In pursuit of one such opportunity, the Company's subsidiary (Hongyu) has obtained a registration code from Customs of People's Republic of China for the import and export business which may afford the Company the opportunity to act as an agent or distributor for the importation and exportation of fertilizer products.”
Should be getting a new 10q next week
Quarterly due for period ended August 31, 2013.
Hope it has some new info
Wells Fargo cuts Eaton price target, EPS estimate
Despite its current Outperform rating, Wells Fargo has lowered its price target range on Eaton (NYSE:ETN) to $70-$73 from $80-$83, citing slow U.S. industrial distribution channel growth, more competitive pricing, weakening in international machine demand and aggressive pricing in some regions.
The firm also cut its 2015 EPS estimate for Eaton to $4.90 from $5.15, vs. consensus of $5.26.
If concrete good news comes later the pricing should reflect that news also. Much of this has been discussed to great length here previously.
Does that mean you're out?
Found this on the internet, quoted price seems inflated
Phosphate Prices (As of September 25, 2014) $120-$130/tonne
Bulk, FOB Morocco (Q3 2014, 31-33% P2O5)
http://www.stonegateagricom.com/s/Home.asp