Excuse me but we were producing 2 kilos of gold or 35.2 ounces of gold per month with local labour and had been told that that Operation was supposed to ramp up 3 to 400% with the onset of a dredge and 10 times that with a processor at Pamapana.

Even 35.2 ounces being two kilos a month which was Recurring before the abandonment times a six month dry season is 211 ounces.

The rate of extraction for Pampana would have exceeded the entire 2010 Dry Season extractions if it had not been abandoned with no warning or explanation.

That is more than the entire yield of 197 0unces declared for all Operations for the 2010 dry season up to the June 30th declaration by the company.

The company had already declared 28 ounces of the 197 total as extracted by Mar 13th 2010.

It is just pure spam and deceit to declare the 197 ounces declared by the end of June to have come from the only dredge working in June.

Its just WRONG.


Was the company dormant for the second half of Mar, all of April and May.

Unless they just closed the doors and pulled the plug obviously part of the 197 ounces declared till the end of June had to come from those months as well.

WE haven't had just one dredge.

According to the company

Both wash plants have been upgraded and will be in operation wk10 April ( yes that was 2010 )

Are you inferring the wash plants are useless and produced nothing or are you inferring they were not serious about the wash plants in the Mar 13th declaration?

Maybe you just don't classify wash plants as equipment even though the company has.

Even the original wash plants without Upgrades were supposed to increase production at Pampana 10 fold to 20 kilos per month.

Considering all the time effort and delays it actually took to get the wash plants in the first place it is kind of silly to declare what we have accomplished recently has only been with one dredge.

Is the 2010 Dry Season not recent enough?

It certainly is to me.



They were not simply targeting overburden in the 2010 dry season.

The 197 ounces declared in June was derived from all Operations in the peak of 2010's production. The rainy season had not even started by then.

197 total ounces produced in 2010 ( till the end of June ) divided by 6 months is only 32.83 ounces per month which is less than the 35.2 ounces produced in Pampana before they even announced an increase of production there.

Like I said before they are only just being able to duplicate or even come close to yields at the Pampana Project before abandoning it with no warning or explanation.

Twist it if you must.

The extraction report for the 2010 Rainy season is an entirely different matter and hasn't even declared enough extractions to even enter the picture.

They haven't even shown if they are expecting more this rainy season or simply concentrating on overburden removal.

Before getting to excited about it perhaps you should wait and see if more gold is extracted in the short term.

eye

Sorry but it was management decisions and practices that drove my investment into la la land and I have every right to call them to task on it.

Protect your own position if you must but I will say what I like and management deserves to be called out.

AS much as you would like to it is not up to you to dictate board content on a stock message board.

That post was clearly a violation as is many of your inferances.

eye

LOL what Rally are you talking about? I think I missed it.

It doesn;t take that much Revenues to cover Expenses but it does take Recurring and consistent Revenues.

It will take more than this years earnings so far.

Paying expenses is only the beginning.

To become a going concern and a real Junior Miner you want to show earnings and dividends or substantial reinvestment into the business to facilitate future earnings.

No one is in business just to pay their expenses.

Eventually you need to become profitable.

I do not believe the company has ever sold shares into the Open Market.

I believe they use Private Placements that make trading into a Rally a little less likely.

eye

This company has withheld key info regularly and that practice has driven the stock into the dirt.

Making excuses and twisting the truth to protect current positions is an agenda of its own IMHO.

For the record I have read every PR and FR the company has ever released which has given me the reason for my concerns.

Its not that difficult really.

The company has trashed my investment and I intend to hold them accountable until they make necessary changes.

I have given them cudos for things well done and over the years have given them significant support and patience.

That patience has ran thin and I am far more vocal about it.

Get used to it.

If the company is incapable of rebuilding shareholder value they are going to get a lot more.

Fortunately they have made some progress, it just hasn't had impact on share price.

Keep imagining an agenda for me if it makes you feel better just obey the rules like everyone else.

eye

Well Zilch I hope buying works out for you.

There is actually quite a lot this company had even back in Feb of 2008 that it no longer has.

We actually had as much extractions at Pampana with local labour and no equipment than we have just recently been able to duplicate with all of the numerous pieces of equipment we are currently using in all our current sites.

That site was not only pumped it was the reason Operations in SL even started but that's a long story and ended in the abandonment of that project with no warning or explanation after it to was supposed to be ramping up substantially.

For your info a dredge can be floated anywhere up or down a river once its on the river and the professional dredge operator you speak of was late in starting.

There are reasons this stock is so cheap now and the Junior Mining Investment Community ignores it despite even multiple FR's.

Talk is cheap and they need to get the job done. There is no more reason for excuses.

I would love to see the stock skyrocket but that is pie in the sky.

It didn't move at all with the last three Updates and further FR's will likely have the same effect.

The stock has dipped below .001 though and that's a fact even with recent developments you are clearly banking on.


Only Revenues and in our case extractions with the exception of CC news or sale has the likely potential to drive this stock higher period. But if it makes you feel better is only my opinion.

Finding a massive gem quality diamond or a solid gold vein might do it but so would winning the lottery.

Earnings, Dividends and Expenses have always been fundamental drivers of publicly Traded Companies.

To withhold any info pertinent to them is sheer folly.

If you don't have revenues you can't pay bills with imaginary income and can only resort to dilution which decreases shareholder value. It doesn't build it.

Financing could be a possibility but without a continual Revenue flow any terms would be unfavorable and posibly even toxic.

Barring CC developments you no doubt will have many months to add to your position.

Wait and see attitudes haven't proven fruitful for this stock so far but things can always change in Pinky Land.

Good luck to you in any case.

eye

I do not begrudge you your opinion but I am fully capable of making my own decisions and expressing my own thoughts and concerns.

Silence has never helped this company other than to drive it into near oblivion.

That much I have learned by experience.

You may be happy to wait till May and if that is how you feel, all the power to you.

I will be watching this stock constantly and watching all developments whether they be good or bad.

Been here too long to be fed anymore excuses.

There is not a chance I would sit quietly till May.

If the company has not put out multiple extraction reports before May IMHO it will already be to late and another dry season would be lost.

It just put out two FR'S and a FR Update with minimal impact on share price or volume.

We actually might be headed a but lower.

If this company doesn't get Operating early this upcoming Dry Season they never will.

With a short Dry Season they can not afford to be late again.

Centrally located equipment easily accessible to current mining Projects leaves no room for excuses.

Since I actually do hope for the success of the company I will for the moment be optimistic and expect they will get the job done.

That doesn't mean I will sit quietly or idly by if they falter.

There should be far more positive signs in the next few months however if success is to become a reality.

Recurring REvenues and Extractions before the next dry season being by far the most telling sign the stars are lining up.

Placement of an additional dredge prior to the next dry season will also be encouraging.

On the CC front I think the best development would be the development of SL2 in Sept of 2010 as planned.

I do not remember if the thrust of that Project is to protect an existing rain forest or replant it but whatever the case it will give us new options.

Each of our CC Projects had a slightly different focus and combined they covered the full spectrum of CC Projects recognized in Copenhagen last winter.

FR's will build confidence for newbies and averaged down longs but it will take PR's and Promotion to the Junior Mining Investment Community before impact of positive developments takes any real effect on share price.

A CC sale will bring Global recognition to this company in very short order.

If the CC Market had blossomed last year there would have been a profound positive impact on share price.

FR's clearly have negligible impact but are nice to hear.

By the way if a mechanic had been working on your van for three years I think you would give him a visit long before the job was finished.

By all means Zilch, post your opinion but I obviously trust my own instinct, observations and the performance of this stock for many years far more than your recent feelings and point of view.

If others share your viewpoint than good for you but I will hold my own as I see fit.

eye

Hey Zilch you need to make a few breaks in your posts so they can be read easier.

I was here when the first dredging Operation was launched.

Much of that work was wasted as the stockpiled gravels were apparently washed away despite good intentions.

Unlike our dredges just reported our dredge at that time did not produce gold then as reported by Moderators of the day.

Removing those overburdens at that time yielded little if any gains.

I am sure they learned a lesson or two there and one should hope they don't make the same mistakes but do make new gains in the process.

Declared extractions and Revenues is always fundamental info and will need to continue for any value whatsoever to be returned to shareholders decimated by prior management practices and failures.

I fully intend to call them to task on that issue alone if they do not get that basic info to shareholders and investors.

You really do not grasp the last three years to claim time is on our side.

Time is actually against us and it is time to put up or shut up.
Time is up.

The time for excuses is over. It is time to get the job done and it looks like they finally may be starting to.

We actually took a couple of substantial steps backwards this season but seem to be finishing well and regaining some lost ground.

The removal of overburden is necessary to get to pay dirt but overburden removed in the rainy season can still be filled in again with more rain.

Anything recovered in that overburden is a bonus but the point is that Revenues are being realized that can offset future Dilution.

Only Revenues or financing can prevent future dilution so if you are trying to say declaring Revenues now is pointless or overrated than you are way off base IMHO and missing the point completely.

Preventing dilution is only one significant aspect in declaring Revenues now.

How about declaring Revenues to:

- actually behave like a real Junior Miner
- gain market share and awareness of Junior Mining Investors
- obtain financing with favorable terms
- actually show what progress is occurring
- show the company is doing what it claims it is
- build investor relations
- show progress with each new extraction report

Just to name a few

Revenues are critical now and it is nice to finally see management actually realizes it is info shareholders should know.

I give them the moment and if they refuse to share fundamental info and progress I will call them to task immediately.

To see real progress we will see monthly extraction reports and even more often if things are going extremely well.

By May we should have received numerous extraction reports considering it is only just turning into Sept.

No one is going to hold there piece until May.
Good luck with that.

Two FR's and an update to one of them have had minimal impact because the Junior Mining Market has already long forgotten us.

FR's are refreshing but obviously do not get the job done.

eye

The carbon Market is struggling but keep this in mind

Carbon Credit projects:

1. SL1: 42,500 acre project in the Tonkolli district has been accepted by CDM Bazaar and is in the process of forward selling the project
2. SL2: 70,000 acre project in the Tonkolli district P.I.N. document and other procedures are under way. SL2 project is expected to be completed and DOE ready by September of 2010. At this time the process of forward selling the carbon credits will begin.


SL2 can proceed in Sept as planned even if SL! hasn't sold yet.

eye

Thx Tired.

My concerns have been built up over years of participation and I really don't want to repeat all of the negative reasons I have mentioned or even withheld.

My last post hints at what I and others endured for years.

The important thing is to see the company actually rebuild shareholder value I have seen them clearly destroy.


The reporting of regular and explicit extractions and
revenues is fundamental in doing that.


Placing equipment and Operating on schedule and up to equipment specifications is going to give so much better prospects to report.

Our equipment is centralized with roads built to our Production sites.

There would be absolutely no excuse for a late start this next season.

Dredging in Aug through to the next dry season is good and extracting and declaring gold in that time is not only necessary, it helps to restore credibility lost on failed placements and targets.

If we are not generating Revenue than TT is right and only alternative is dilution, toxic financing or favorable financing.

It takes considerable Recurring Revenues to obtain favorable terms in any financing agreement.

Without them ( REvenues and Extractions ) you don't get financing or it will be unfavorable at best and toxic at worst.

Investors here really should hope I get my money back because if I do you will all be rich.

I like what the company has done of late but they need to continue it going forward and one can only hope they will build upon positive advances.

If gold extraction is to continue and actually build up to the next dry season I believe they should have released PR's and promoted the stock once again.

They could show growing Revenues with gold rising in value and start building the company once again.

One problem with this company is that outside of the Pampana River and hard Rock Formation Projects , they have never promoted the company or built on momentum.

That is a critical error in the Pinks and Junior Mining Markets.

AS much as I appreciated recent updates it is simply us hearing about it and those Updates can only have little effect on stock price.

eye

You are entitled to your opinion as others are to theirs and you have no idea the position others have taken, the sacrifices made by them and the length of time, emotion and finances they have invested here.

It would take pages to explain the pumps and dumps, the anticipation, expectation, targets, equipment deliveries & placements, new dry seasons, substandard communications, yet excellent prospects such as the CC's and rising price of gold.

It took years to wade through that.

For anyone to suggest investors withhold their concerns or sell at a loss is foolishness.

No one here has the right to tell someone to take a loss and walk away.

Anyone stating that is probably just protecting a recent investment in this stock or a severely averaged down position.

IMHO it is a completely self centered statement and approach.

It is likely designed merely to protect their own investment yet trying to appear as if it were for some sort of hidden greater good.

If someone could have forced me to sell I would have posted every concern I ever had and verified those concerns clearly from the PR's themselves.

I would never let up on the company to prevent them from doing to others what they did to my investment.


There is a lot I have held back and was seriously considering sharing but in light of small improvements I held my piece.

Based on the latest Update I am glad I did but they need to continue reporting Extractions and REvenues on a regular basis.

If they don't they will step back once again.

Not only have shareholders here admitted there is no benefit to withhold that info, management themselves have admitted it is info the shareholders deserve to know.

Many have been stuck in our current position directly due to past management decisions that accelerated dilution and one of the main things the company initially claimed to be avoiding and opposed to.

I find it amusing to see suggestions that simply benefit newcomers and those that were able to average down their position.

eye

That last FR Update is one of the best they ever put out for a number of reasons.

Gonna post it so all can see.

Update to August 24, 2010 field report;

I would like to update shareholders on information I received on August 25, 2010 at 3:45 A.M. EST from Sierra Leone regarding gold and diamond extraction. Sierra Gold Corp extracted 18 ounces of gold and 21 diamonds through the middle of August from our rainy season operations. While I feel this information is not worthy of a press release it is information that our shareholders should be notified of. While performing mining operations during the rainy season has and does offer new challenges provided by Mother Nature we are working on long term solutions to address these challenges.

The 18 ounces and 21 diamonds produced through the middle of Aug is exactly what we need to hear.

That was for half the month not the whole month.

We have also now been informed that the current dredges do have gold extraction capabilities and that the wash plants enhance that on a larger scale.

The only thing that could prevent additional Dilution is Recurring Revenue and now we have some.

The only troubling thing is whether that gold was extracted before the overburden removal was started or after. We did have the dredge working prior to the overburden removal.

If it was extracted before the overburden removal we will have to get back to the production stage to generate more Revenues and it could signify Aug extractions as stated are the last we receive until the next dry season.

If that gold came from the overburden removal process it is so much more profound as the pay dirt always lies under the overburden.

It would also show that additional Revenues and extractions will continue in the overburden removal process this summer and fall.


Gold and diamonds trapped in the overburden of this magnitude would bode very well for the gravels beneath.

After 3 years of trying this is the first year of any reported extractions as late as Aug.

July is the latest we have had an extraction Report for before.

While I feel this information is not worthy of a press release it is information that our shareholders should be notified of.

He has not only admitted shareholders should be informed of extractions this is the first attempt to do so outside of his prior six month stance.

This is exactly what a reasonable and responsible Junior Miner wannabee should do.

We just need some Promotion for a change which would be pointless at this point unless extractions continue to be obtained and reported.

Thank you John for doing it. Now that you started don't stop now or we go backwards once again.


I know he reads this board or talks to those hear.

I have always given cudos to the company when they deserve it but will call them to task as I see fit as well.

This company has a long way to go to rebuild shareholder value but they actually may finally be in a position to start doing it.

eye

Well, well, well. apparently the company does read IHUB or talk to posters from here at the very least.

That's at least twice now there has been a response due to discussion here.

Finally after two years some decent clarity on the dredging process.

Prior and even a current Mod posted this back we we first started dredging.

John S was already there back in those days too.

Also remember that the dredge IS NOT A PROCESSOR, it only pulls/sucks the material (alluvial gravels) out of the river bed a prepares it to be processed, and now the PROCESSORS are in country and probably onsight processing. This is why this next PR is a keystone PR. It will probably tell us that the equipment is onsight and up and running, hopefully with some per tonage number results.

Differant Mod posted

The dredge is there to pull the raw material from the river, it doesn't have any processing capabilities. The processing, at this time, is limited to 20 kg until they get more equipment. The $600K/month figure is great because processors only cost around $40K per machine. In the end, processors are the money makers, but the dredges, which are more expensive, are needed to feed the processors. Essentially, $200,000 in equipment can produce an additional $6-7 million a year.


That was posted by two different Mods back in 2008 and John was here by then.

There was more of the same discussion back in those days.

Perhaps the new dredges exceed the capabilities of the first but that was the communication then and even that was just feedback from calls to John if I am not mistaken.

I do know the company offered no official explanation of the process.

Anyway it took two years but eventually John got the word out on the dredging process.


Better late than never.


Actually rephrased, after two years of dredging he actually got any official word out on the dredging process.


I could easily show how poor communications have actually been and how detrimental that has been to stock price.

In light of the last two FR's I will cut them some slack for the moment to see if they actually do what they say they will this time.

It is obvious the Market has avoided this stock for a long time and FR's are refreshing but will never rebuild value for this stock.

It will take Revenues, extractions, promotion and yes even PR's on a regular basis.

The two recent FR's have not even generated significant volume since they were released.

The last two FR's do at least give some reason for hope.


They may have bombed a lot in the past but do appear to be getting some things done with the potential for more to come.

eye

That's a bit deceptive to say the least.

The 197 ounces declared on June 30th were the totals since the beginning of the year.

Mar 13th FR already reported 28 ounces and 26 diamonds recovered.

The company declared the intended placement of our upgraded wash plants and additional dredge to be Operational in April.

Who said the company dredged 197 ounces in June?

Certainly not the company.

The real question is how long did it take to get the additional dredge and upgraded wash plants in Operation and did they actually get them in place in April as planned.

eye

There is a lot they could do to promote themselves but they have refused to for a long time.

They do withhold key info and have for a very long time.

That will become apparent shortly.

eye

There is no reason for it to drop until additional dilution occurs.

I was concerned when they announced a dredge was going to operate with no mention of a wash plant nearly a month ago.

The recent announcement clarifies that the working dredge is removing overburden as we have used them before.

No wash plant and using a dredge to remove overburden in the past has shown there are no short term Revenues in grasp from mining.

There are agri harvests however and the possibility of some Revenues generated from them.

If 1/3 of harvest goes to replanting, 1/3 goes to the local chiefs and the people we could still realize sales for the remaining 1/3.

Having said that additional dilution is the most likely outcome.

An increase to the A/S is the largest warning bell we would see.

It is possible the company still has some remaining available A/S to sell before an increase to the A/S is required.

I wouldn't be surprised to see an additional drop to share price but the longer it holds the closer we get to the next dry season.

Removing overburdens with a dredge does not generate Revenues but it does prepare sites for the next mining season and a stockpile of washed gravels can be stockpiled for processing.

It isn't a wasted Operation it just doesn't generate funds for daily Operations.

Without funds being generated the most common method used by the company to raise Capital is selling additional shares.

eye

Considering they don't plan on using PR's are you inferring the market will never respond to this stock?

You yourself have admitted it is Pointless to withhold Revenues and extraction info.

They are Fundamental info in Publicly Traded Markets.

The dredge is removing overburden and at best preparing ore for processing like they have historically.

If a second dredge is started up it will do the same thing.

Its good to hear about the CC test Project but it is also clear that there are no Revenues being produced now or anytime soon.

Without Revenues, further dilution is a likelihood.

The company has used FR's to tell investors what they want to. They have withheld info ever since abandoning the Pamapana and Hard Rock Projects despite the years of massive buildup leading up to them.

They have fallen short on equipment placement despite their claims of acquisition, abandoned JV's with no comment, underperformed drastically with their equipment and enacted long periods of silence to avoid those and other negative developments.

Was it a devious master plan?

Not IMHO, it was just substandard communication policy that decimated shareholder value quickly.

History and the chart shows that clearly. The market reacted brutally.

Unfortunately their communication policy has changed little and a company that refuses to promote itself and issue PR's is never likely to get noticed by The Market and the players that drive it.

The spike generated by the CC interests was generated through PR's not FR's.

They are not announcing gold and diamond production because there isn't any even though there are those here who would have us believe otherwise.

eye

The company just put out a new FR and hardly anybody appears excited.

Little wonder why the market doesn't respond.

Good to see the kiri trees are growing at least and I was wondering how big they were by now.

Also encouraging to see they will be able to seed and plant trees for future development of the Project that should have very little cost to the company.

It is also good to see the harvesting schedule for our Agri Projects.

Additional dilution is likely to happen since there are no apparent Revenues and even diehards agree it would be pointless to withhold that info.

Especially since this company used to declare its extractions regularly.

eye

Our dredges do not produce gold and never have.

We were told so by management and there has been no evidence or company inferance to ever even suggest it.

Ever.

The last Update clearly reinforces that.

No wonder there is no wash plant being utilized, they are only clearing overburden.

For anyone to suggest the company is producing gold with their dredges in light of the evidence not to mention past performance is just plain deceptive at best.

Not even the company themselves boast those claims.


With no gold extraction this rainy season the threat of additional dilution is clearly amplified.

It was good to see an Update on the CC Project and it appears they will be able to develop those Projects on their own by developing their own seeds and rooting.

That is totally necessary as obviously there are no buyers which initially were required to fund the Project Development.

If the company can fund the initial planting of CC Projects it will be saving themselves the cost of doing it with funding instead.

It just may take longer to do.

This whole management style of FR's is sure getting the word out there.

The Market obviously takes little notice based on Volume and number of sales of late.

The stock continues to languish and even with wishful thinking the only thing that can rebuild shareholder value is a CC sale or clear and declared Recurring Revenues.

Neither of those is likely to happen any time soon or probably even for quite some time to come.


It will take more than hype to get this stock moving in the right direction.

eye

That is the best way all right and a CC sale could do it or a 50 carat gem quality diamond.

There are other rarer examples though which don't apply to us anyway.

You are right that that likely isn't going to happen anytime soon.

Of course a Reverse Split could always occur but we have no where near the O/S that other Pinks are sitting at.

RS do not Reverse the impact though so you are probably totally correct in that regard anyway.

We do need Revenues though or more dilution is imminent.

I still say the best way to avoid dilution is to generate Revenues so that dilution become unnecessary.

I know we have and do its just pointless to withhold that info.

eye

One more thing tt.

Deficit is something that grows and has to be paid back.

Revenues that occur through dilution are one time entries and never have to be paid back.

Each new round of Dilution repeats the process.

Once they are accounted it is simply their impact that hurts.

Once they are done they are over and although they do effect share price they do not generate or increase Liabilities on a Balance Sheet.

Dilution does not generate debt it is used to cover expenses and does have that benefit.

Obviously not as good as Revenues but it isn't compounding debt either.

eye

To each his own I guess.

My investment has been decimated by a string of well documented mistakes and failures.

It had nothing to do with a lack of confidence in the direction management chose to go.

The way they chose to deal with those failures compounded the losses.

AS a result I am stuck and can not sell.

It was not a slow and moderate decline. It was abrupt.

Do what you like and if I had thousands more to lose perhaps I would even try averaging down.

In the mean time I will make my own decisions based on what I see and have seen and I have lost way to much to walk away or remain silent.

Silence has always devastated this stock on multiple levels.

Go ahead with your self proclaimed ramblings if you like but as you said they applied to you don't infer them on me.

I know exactly what I have endured and I still hold my stock.

If you get to rich mans island I may not own a condo but I'll maybe have enough for a beachhouse.

It just isn't likely based on past performance and even future potential outside of a massive gold or diamond discovery or a significant CC sale.

eye

Revenues can be sufficient to cover Operating Expenses but failing to generate them or report them will increase the likelihood of dilution.

Cork is entirely right that some dilution is beneficial if properly applied.

The kind totally detrimental to Pinkies is either toxic or continual to cover Operating Expenses and fund insiders significant salaries.

The Quarterlies certainly don't show Doug is milking things for that.

Try looking back a year or more before last year and see how much the stock has dropped.

As difficult as this has been and as costly as it has been to shareholders, Profitability in its mining Ops is finally within grasp.

Its a matter of doing what they said they will and reporting fundamental info or it will have little positive impact.

Their rapid deployment and placement of Operational equipment for the next mining season will tell the tale and the more equipment they run this summer and fall the more likely they will get the job done as they claim.

Declaring extractions and Revenues during the rainy season would go a long way to validate their claims and would drastically reduce the need for additional dilution.

Dilution does devaluate our investment but it does prevent debt.

SGCP does have Revenues which really makes no sense to withhold.

Although I have my own concerns there is more to the picture than I think you have portrayed.

I agree that a CC or Biomass sale would be the best thing at this time but I follow that market daily and see it isn't likely anytime soon.

I would be happy if it did though.

The .009 run of last year was generated by CC development and involvement and SL2 was supposed to be developed in Sept of 2010.

It can happen again.

Mining had nothing to do with that run and I challenge anyone to show otherwise.

eye

eye

New Zealand, Australia, China, and the USA have all made plans to enter the carbon market.

The decision is being stalled politically in the USA and Australia but won't be an issue in China if it ever gets launched.

Chances are if China does enter that field they will dominate it well others debate the benefit.

eye

I really had no intention of sharing what I just did today but responded to a query.

The company has made bad choices and has cost their shareholders dearly.

That's a fact clearly supported by their own PR's and failures.

The chart makes it far more apparent.

I do believe the cost of those errors is worked in to current prices and I do believe the company does have an opportunity to rebuild some value if they make right choices.

It won't happen if they repeat past mistakes.

Clearly they are making some progress and it is not there fault the CC market is in stall mode.

My concerns were costly and realized through much patience endurance and support of this stock.

If recent shareholders and newbies see their holdings drop to .0001 I'm sure there will be a lot more verbal discourse.

If you or anyone else continues to imply I am a manipulator or liar I have no problem in going into a validated history lesson.

I can easily display the reasons for my concerns.

I find newbies and averaged down longs not willing to rattle the egg carton far more manipulative than any inference directed at me.

I get it, you're green or close to it and don't want to shake the apple cart.

You wrote if you don't mind standing to your own statements

Since we all seem to agree on that, have you ever considered that the underlying premise
(that the company is somehow and for some unknown reason withholding information) is wrong?

If you do get it.

I would have to say that obvious withholding of fundamental info and dismal communications of the past surely point to the fact the company does withhold key info for the same reason they always have. They do not want to admit failures, delays and poor performance and they think silence and failure to follow up their claims is the way to do it as they always have in the past.

I said their was no reason good for shareholders for management to withhold that info. I did not say the company had no reasons bad for shareholders to withhold that info.

I explained there are lots of bad reasons to withhold that info just no good ones.

Its not difficult to figure out why they did it but it is important they quit doing it anymore as those mistakes will have the same consequence and already have.

As history repeats itself a lot more people will eventually figure it out.

Its time to fix past problems and move on, not time to ignore them and repeat them once again.

eye

You are entitled to your opinion. I'm entitled to mine.

The evidence of Johns decisions are clear its up to him to change them IMHO.

He made those choices and its up to him to correct them.

Withholding fundamental info is only one of the companies shortfalls.

I do notice no one is able to offer any benefit to withhold fundamental info such as extractions and Recurring Revenue.

It will have to be quite a spin to justify that.

I tried a long time to think of anything positive about it but there was just no good reason for it.

Actually reporting monthly or near monthly extractions once production started was one of the things the company did right in the first place.

They started it back in the Pampana area when the company was able to produce as much gold with picks, shovels as they are only just now equaling with dredges and upgraded mobile wash plants.

The stock tumbled quickly when they abandoned that project with no explanation and those considerable Recurring Revenues were not only lost, the Project was just not talked about again after massive pumping and promotion by the company in the first place.

The only thing pumped more was the hard rock formation and testing which also entered the dome of silence.

Those was just a few of the major communication gaps and failures that drove the stock price into the ground.

The market clearly didn't like it and the chart shows it.

Shareholders at that time are lying if they claim they or other shareholders were happy about it at the time.

Nobody liked it and most of us were stuck by then.

We were all eagerly awaiting further Updates and ramp ups that never came as the rug was ripped from beneath us.

Management has made extremely bad choices that have cost their shareholders dearly and have never explained themselves or admitted those mistakes.

I know, I have talked to them myself from the beginning long before John was even there.

I have even talked to John.

If you trust him, you talk to him.

He knows full well the abuses made in the communication aspect and should not be making those same mistakes.

The company has fallen short on way too many things to believe anything they just say.

The only things that should be trusted are fundamentals, filings and what they are even willing to commit to in PR's and follow up regularly.

They have accountability in that realm.

I believe far more what they put in writing and follow up than anything they simply say to individuals.

Trust is earned, faith is given.

If people don't trust John why should they accept as gospel what he would tell them if hes not willing to put it in writing and tell everyone.

Its his job to communicate with all and I have no problem calling him to task to do so.

He knows what poor communications has done in the past and will again if continued.

eye

OK here's what I think.

Well phresh IMHO why should I or anyone have to talk to John to find out if he has changed his mind and is doing what he should have in the first place.

If he was going to it would be obvious and FR's cost us nothing.

He has made no attempt to change anything and has little intention of it IMHO.

That is clearly evident.

Its totally in his control if he wanted to change past policy that he himself created.

Now why would he change from near monthly extraction reports in the first place?

The company has always provided that fundamental info in the past just like they should have until his current policy was formed.

His explanation was an insult to experienced investors and defied logic.

I gave serious thought to the matter and although I can think of numerous bad consequences in not declaring extractions and Revenues I can not think of any good reason to withhold that info.


Certainly nothing that will benefit shareholders in any way.

I would even like to hear anyone else explain how it could in any way be good to withhold key and fundamental info concerning extractions and Revenues at any point in the life of this stock.

If John can't see that on his own then talking to him again will not help.


If he starts making reasonable decisions I may just change my mind.

If John had any intention of changing his policy he would have done it by now.

I repeat there is absolutely no good that can come to shareholders by withholding that info.


If he refuses to release fundamental info than the negative consequences of not releasing it is all that is left to talk about.

Not only have I not been able to think of even a remote benefit of holding back Revenues and extractions, I have never heard anyone else here mention a benefit in it either.

The companies refusal to release fundamental info will hurt all shareholders and they should be able to see that all on their own.

I have no doubt they would rather hide poor results than do the right thing based on past performance.

Thats my opinion.

If some here trust John maybe they should ask him about it and share with the board.

Please do share any real benefit to withholding fundamental info.

eye

Do you really want an answer to that?

eye

August 17th

The Upcoming mining Season is a ways away and John hasn't outlined or initiated any changes to his 6 month extraction policy.

That indicates the next extraction Report remains six months away from his initial declaration.

There has been no evidence of any reevaluation of extraction report policy.

What sense or argument can justify withholding extraction results this Summer and Fall which are already upon us.

There is no justification in not reporting monthly or near monthly extraction reports as they always have prior to this year and especially if we need additional financing.

Coming up with that policy in the first place shows extreme short sightedness on his part.

There was absolutely no justification for it anytime past or future.

Its called building shareholder value and is fundamental info in Publicly Traded Corporations.

Earnings, profit, losses, Expenses and dividends drive Publicly Trading Exchanges and companies.

Speculation and Potential have impact but are not the drivers.

The fact we have Revenues puts us ahead of many wannabee Junior Miners already.

Kind of pointless to hide that info if we want to be a Junior Miner too.

Witholding key info therefore increases the chance of dilution as fundamentals are not clearly visible.

Cork is right that some dilution is better than others however sufficient Revenues make dilution unnecessary.

I don't think Revenues from dilution have been abused here and have probably been spent wisely.

I do believe withholding key info in the past has sent this stock plummeting and reeling which increased the amount of dilution required to raise targeted Financial infusions and the chart itself confirms that claim.

The cheaper the stock price the more dilution occurred to raise that Capital.

Profitability, declared and REcurring Revenues is the only thing that can prevent future dilution with the exeption of Financing which also demands Revenue declaration in anything other than toxic financing.

It does not appear the company is desperate enough to require or need toxic financing.

Without Revenues however additional dilution is likely imminent.

Withholding key info is never good and I have never seen good come to shareholders for it.

John can infer change if he likes but its all talk until he gets the job done.

I hope he does but if he was going to based on calls and emails from shareholders he likely already would have.

eye

I have voiced my displeasure with that stance myself.

In answer to your charge though the company can not hide Revenues in Quarterly Reports. They must be filed and Accounted.

That doesn't mean extraction results need to be clarified but it does show they need to be accounted whether the company wants to release extraction totals or not.

They do have to report the dollar value.

I'm sure we will all read the quarterlies.

In light of that alone it does seem silly to have chosen two six month extraction reports.

We will know far before then by the quarterlies themselves if product is being extracted. They might as well simply report what they are extracting as they always have in the past.

Whats the point in trying to hide it?

Pretty hard to justify six month extraction reports.

Management has suggested they may review that policy but nothing has been changed so far and it is pointless to withhold extraction results if we have any.

There is just no excuse for it and the market hasn't tolerated it.

eye

L2 Update

1 MM on Bid at .001 DOMS
2 MM's on ask at .0011 NITE and ETMM

Volume is 3,172,000 with 179 total trades

Day High is .001
Day Low is .001

That means all trades have been sales so far but it is nice to see DOMS step up on the BID

Sales simply show someone was willing to sell with minimal effect to the stock price.

It is more telling that those sales did not drive the stock lower.

eye

I think CC and Biomass has far greater potential on rebuilding shareholder value but that Market is struggling now.

The mining aspect could show rapid improvement if they do what they say they are going to which has been a problem in the past.

Mining can not have positive impact if Revenues and extractions are withheld from investors and shareholders.

I challenge any reasoning stating otherwise.

The best thing the company could do for its mining side is to announce extractions and Revenues generated through the Rainy Season and utilize equipment including the wash plants.

That would not only generate new interest it would show drastic improvement over past activities.

Perhaps they are extracting gold but if they are it is rather shortsided not to say so.

Current production this year with all equipment has only just roughly matched production in the Pampana area with no machinery before it was abandoned.

It does appear our current areas can be ramped up and gold is worth more than it was then so at least some progress is being made.

I can see the mining Ops becoming profitable in relatively short order if they continue to expand and are quicker at ramping up but they really do need to get back to the Pampana River before the local chief finds another operator there after all our investment and development there.

The current sites should yield far more on their own if our equipment is dispersed and set up at the beginning of the dry season and not merely closer to the end of it.

I do believe that without Revenues this summer and fall the likelihood of additional dilution or financing to cover Operating Expenses is unavoidable which is one of the key reasons Revenues need to be generated now.

That was one of your best posts IMHO.

I do think mining could outdo your expectations though.

eye

Open Market dilution is a rarity in Pinky Land.

Most companies use Private Placements or toxic financing to dilute stock.

I doubt very much that dilution would have been responsible for yesterdays activity but I suppose it is possible.

I would agree with Crusader that ETMM was accumulating yesterday as he was poised on the bid all day.

The fact he was poised on the ask indicates one of his clients was also responsible for the selling but NITE was there for a while also.

It almost appears as if the trades were settled in board lots as opposed to bulk sales.

It was very strange none the less but neither good nor bad, just different.

ETMM has been poised on the bid for days and seems dedicated to holding current price or putting upward pressure on the stock price.

Nice to see MM's doing that.

eye

Good post

ETMM is a very active MM here now and has shown strong support of late.

He appears to be a Retailer as well.

ETMM and NITE practically control this stock on their own IMHO and based on L2 observations.

As you know retailing does not mean these MM's can and do not buy stocks for their own positions.

It simply means they have customers they must satisfy as well.

WE all have our favourites.

I prefer the retailers as they can make money in a rising or falling stock which makes it unnecessary for them to manipulatwe either way.

I do not like Auto and believe he is a shorter or works for them.

Hedge Funds are huge shorters and create massive commissions for retailers and those associated with them.

UBSS has also been active here and will be again.

The more MM's active in a stock the faster and wider the swings can be.

Would be nice to see more step up.

eye

I guess you would guess wrong then.

Up to Mar 13th we had 28 oz of gold and 26 diamonds produced in 2010 without any equipment.


Thats what the company said not me.

I don't recall claims the non mechanical Alluvial projects were supposed to stop.

I guess common sense would dictate the same non mechanical sites produced more of the 197 ounces and 137 diamonds reported June 30.

BTW, just when did the company get any equipment running this year even though we had at least one dredge and two wash plants in the country since the end of last year.

Oh yeah, we never did find out because it is one of the things the company refused to communicate with its shareholders.

So are you trying to say the upgraded wash plants are useless and don't produce gold?

Now why has the company claimed otherwise?

Dredges haven't produced gold for this company so far by their own admission.


eye

Then please tell us how much gold our dredges produce and why the company would lie about it in the first place if in fact they have.

They tell us they don't but you tell us they do, now who we gonna believe.

eye

Call John, call john call John.

Don't care what you posted the company has said otherwise.

Quarterly Reports confirm it.

Our dredges have not produced gold unless the company has lied or held back that info.

Deny it if you like if it makes you feel better.

All these call John people should pick up the phone themselves.

I dare anyone to call him and ask how much gold our dredges have produced.

While they are at it maybe they could ask if a mobile processor is working with dredges Operating this summer and fall.

eye

Obviously you don't.

Dredges do not process gold.

They suck up dirt and gravel from riverbeds.

Ours have washed the gravels extracted by them and prepared them for processing.

They were initially stockpiled at riverside but much was washed away by rain the first year of dredging.

The washing of gravels performed by dredges is a completely separate function than that of extractions from mobile wash plants.


If you were here for our first dredging Operation you would already know that.

Dredges need our mobile processing wash plants to extract gold from the material the dredges produce and wash.



Without wash plants, Dredges do not extract gold.

Unless of course we were lied to before.

You obviously haven't been here long if you don't know that.

eye

I believe fully the CC Projects injected the greatest hope and increase for this company since its original Promo.

The company will never IMHO ever be able to produce annual 8 digit Revenues from mining.

They would have to stumble onto a solid gold vein of monstrous proportions to generate that kind of income.

They can however expand their mining Operations as they seem to be claiming.

By centralizing their equipment and building roads to their Projects they are essentially building their own infrastructure.

The current areas have no where near the proven reserves of the abandoned Pampana area but they can still produce gold.

For the first time the Agri Projects appear capable of generating some sort of Revenue.

The carbon market has stalled but global interest is still apparent.

I read two articles declaring China poised to enter the carbon market.

Will post links if anyone is interested.

Talk is cheap and the company has fallen short numerous times in the past.

If they do what they say they intend to their mining Operations could actually become profitable.

To see real shareholder value increase we would have to see real extraction and Revenue reports this summer and the CC market come alive again.

If they have been telling the truth, they actually could be extracting gold in July, Aug and Sept of 2010.

Of course we know they probably wouldn't tell us even if they were.

eye

If this company had 10 times more equipment but still refused to report extractions and Revenues it would still be going no where.

This has been more of a get poor scheme then anything else.

I hope projected equipment does get placed but we have had numerous equipment acquisitions that have been either late or never did materialize.

Thats a sad but true fact.

Funny thing is you just never hear about it again.

Who knows, maybe this is the year that all changes but with the company's reluctance to release clear and concise info it will continue to use communications to limit the flow of info not clarify it.

You are right about it not being a get rich quick investment as time itself attests to that.

Historically, SGCP has not produced in Aug or Sept.

They did have our first dredge operational in Aug one year but only after months of Operation did they reveal that that machine did not process gold, it only washed it for our mobile processors.

Without mobile processors working with our dredges we are simply piling gravel that can be washed away by the rain once again.

I find the omission of our wash plants working with current dredges highly suspect based on past performances.

One would also have to wonder why considering our wash plants are in country and close to current Operations with roads already built to those sites.

If they do have a wash plant designated to extract gold with dredges Operational this rainy season it simply shows the company's stupidity in not saying so.

The absence of that info simply implies it isn't likely to happen.

eye

Its not playing like typical dilution or the stock would have dropped more.

Although ETMM seems to hold the selling position he is also poised in the buying position and has been all day.

This could mean one of his clients is dumping shares and he is picking them up.

With the predominance of shares trading at the bid it is the MM positioned there that indicates he is accumulating the shares sold.

It could be for himself or for another client but base on L2 ETMM is picking up these sells IMHO.

eye